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    Mixed-Use Live-Work Property Title is generated by Realmo AI

    417 Sanford Road, Wells, ME 04090

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    Claim this Listing
    New
    For Sale
    $640,000

    COMMERCIAL - Wells, ME

    Property size:
    2,678 SF
    Lot size:
    0.70 Acres
    Price / SF:
    $238/SF
    Added:
    Jun 2, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 5 at 2:06 pm

    Property Features for 417 Sanford Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Res-Comm
    Parking features
    Off Street
    Basement
    Crawl Space, Unfinished
    Standard status
    Active
    Size
    2,678 SF
    Lot size
    0.70 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3839

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Natural Gas, Heat Pump (Heating)
    Cooling system
    Heat Pump
    Water source
    Public

    Building Details

    Year built
    1870
    Flooring type
    Carpet, Laminate, Tile, Wood
    Building materials
    Wood Frame, Shingle Siding, Vertical Siding, Vinyl Siding, Wood Siding
    Roof type
    Metal, Shingle

    We can help!

    Listing Contact
    Samuel Downing

    Listing agent Samuel Downing

    Listing office Downing Real Estate Agency 10 Storer Street, Kennebunk, ME

    Listing date Jun 2, 2026

    MLS# 1659554

    Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • $5,000 seller incentive toward closing costs or an interest rate buy down
    • Mixed‑use property in Wells, Maine with town water and public sewer
    • Includes a 4‑bedroom, 1.5‑bath home with full kitchen and laundry, plus electric/natural gas/heat pump heating and heat pump cooling
    • Attached two‑car garage topped by a spacious rec room
    • Oversized detached garage with heated workspace or office space above
    • Multiple permitted uses noted: multi‑unit residential, office, studio, or light retail (subject to local approvals); off‑street parking

    Overview

    This mixed-use property offers a practical live-work configuration with a well-maintained 4-bedroom, 1.5-bath home, full kitchen, laundry area, and efficient heating and hot water systems. The home includes an attached two-car garage with a spacious rec room above, adding flexible interior space for work, clients, or overflow. An oversized detached garage provides additional room to operate, with heated workspace and an office area above for entrepreneurs, hobbyists, or potential rental income. Town water and sewer service support the property’s versatility under Res-Comm zoning, subject to local approvals.

    Located on a highly traveled road, the property provides strong frontage and visibility. The location also offers convenient access to I-95 and nearby beaches and scenic Route 1, with other commercial activity in the surrounding area.

    The combination of residential space and multiple workable garages makes this property well suited for a business owner seeking a live-work arrangement, or for an investor looking for flexible income potential. With permitted use categories that may include multi-unit residential, office, studio, or light retail depending on local approvals, the site can accommodate a range of operating models while maintaining an emphasis on access and exposure.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $66.8k $24.96
    − Vacancy −$8.4k −$3.12
    EGI $58.5k $21.84
    − OpEx −$14.6k −$5.46
    NOI $43.9k $16.38
    2,678 SF · lease $24.96/SF/yr · vacancy 12.50% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $626.7K
    $548.3K – $731.1K (±1% cap)
    NOI $43,866 @ 7.0% cap · market cap 6.85%
    Second Best
    Apartment 5plus
    $591.2K
    $517.3K – $689.8K (±1% cap)
    NOI $41,387 @ 7.0% cap · market cap 6.47%
    Theoretical Best
    Office A
    $848.9K
    $742.8K – $990.4K (±1% cap)
    NOI $59,424 @ 7.0% cap · market cap 9.29%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Live-work space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wells
    County
    York
    State
    Maine
    Longitude
    -70.6001898
    Latitude
    43.3211435

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      Approved Site For Restaurant

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      View Details

    FAQs

    What type of property is this?
    Live-work space - A versatile live-work setup with strong roadside exposure, town water and sewer, and multiple on-site work or rental options.
    Where is this live-work space located?
    The property is located at 417 Sanford Road Wells, ME.
    What is the asking price?
    The asking price for this property is $640,000.
    What are key features of this property?
    This property features: $5,000 seller incentive toward closing costs or an interest rate buy down; Mixed‑use property in Wells, Maine with town water and public sewer; Includes a 4‑bedroom, 1.5‑bath home with full kitchen and laundry, plus electric/natural gas/heat pump heating and heat pump cooling
    (207) 415-5121
    We can help!
    Listing Contact
    Samuel Downing
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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