Cannabis Cultivation and Retail
For Sale
$1,500,000
414 Hill Street, Biddeford, ME 04005
Steel-frame facility with loading access, municipal utilities, and flexible industrial functionality.
Property Size11,314 SF
Price / SF$132.58
Days on Market9
Property Features for 414 Hill Street
General Information
Standard status
Active
Size
11,314 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$16,934
Amenities
Wall Air Conditioning
3
Parking.
Paved Driveway, Off Street.
1.5
Overhead Doors.
Building Details
Year Built
1988
Stories
1
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Marc Fishman · License #BA901721
(207) 775-6561
Source:
Xome
Added: Aug 31
Changed: Sep 7
Last Checked: Sep 8 at 4:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty
Investment Insights
Based on property information with market context.
This cannabis-focused industrial facility combines retail and cultivation functionality within a steel-frame building with metal siding, a metal roof, and concrete slab floors. The approximately 1.5-acre property includes 10,000 SF on the first floor and 1,324 SF on the second floor, with 15–17 feet of clear ceiling height. The layout is also suited to an extraction lab, subject to applicable requirements.
Municipal water and sewer, natural gas service, wall air conditioning, overhead doors, loading access, paved driveway, and off-street parking support ongoing operations. Built in 1988, the property is positioned within Biddeford’s established industrial area, with access to major transportation routes and the greater Portland and Southern Maine market.
Municipal water and sewer, natural gas service, wall air conditioning, overhead doors, loading access, paved driveway, and off-street parking support ongoing operations. Built in 1988, the property is positioned within Biddeford’s established industrial area, with access to major transportation routes and the greater Portland and Southern Maine market.
Key Highlights
- Approximately 1.5‑acre industrial property in Biddeford, Maine
- 10,000 SF first floor and 1,324 SF second floor
- Cannabis cultivation and retail layout with space for an extraction lab
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$116,671
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,333,420
$2.3M
Cap Rate 7%
$1,666,729
$1.7M
Cap Rate 9%
$1,296,344
$1.3M
Market Conditions
NOI Build-Up for 11,314 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$169.7K $15.00/SF
− Vacancy
−$3.0K −$0.27/SF
EGI
$166.7K $14.73/SF
− OpEx
−$50.0K −$4.42/SF
NOI
$116.7K $10.31/SF
Area
York County, ME
Vacancy
1.79%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,333,420
Cap Rate 7%
$1,666,729
Cap Rate 9%
$1,296,344
Alternative Uses
Best Use
Industrial
$1.67M
$1.46M – $1.94M
NOI $116,671 @ 7.0% cap · market cap 7.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.59M
$3.14M – $4.18M
NOI $251,054 @ 7.0% cap · market cap 16.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
145
Businesses Nearby
Explore this area
Business Placement
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Cannabis property - Steel-frame facility with loading access, municipal utilities, and flexible industrial functionality.
Where is this cannabis property located?
The property is located at 414 Hill Street Biddeford, ME.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Approximately 1.5‑acre industrial property in Biddeford, Maine; 10,000 SF first floor and 1,324 SF second floor; Cannabis cultivation and retail layout with space for an extraction lab
