Equipped Restaurant
For Sale
Contact for pricing
42 FRANKLIN ST, Biddeford, ME 04005
Commercially zoned property with an operating Texas-style BBQ format and full-service dining infrastructure.
Property Size2,464 SF
Price / SF$233.36
Days on Market14
Property Features for 42 FRANKLIN ST
General Information
Standard status
Active
Size
2,464 SF
Property subtype
Retail, Business for Sale
Zoning
Commercial
Investment Type
Owner/User
Additional Details
Equipment Included
Yes
Building Details
Year Built
1900
Stories
1
Units
1
Tenancy
Single
Listing Agency:
First Street Business Brokers
Listed By:
Bill Stewart · License #ME BA919343
Source:
Crexi
Added: Jul 28
Changed: Aug 8
Last Checked: Aug 9 at 12:25PM
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 First Street Business Brokers
Investment Insights
Based on property information with market context.
This 2,464-square-foot restaurant property combines real estate with an operating Texas-style BBQ format in a 1900-built structure. The facility is equipped for full-service dining and is currently open 5 days/week, with lunch service limited to weekends.
Located at 42 Franklin St in downtown Biddeford, the property sits near local breweries and tourism anchors within a high-foot-traffic district. The sale includes the restaurant facility and real estate, while the current business name and trademark, recipes, and professional smoker unit are excluded.
Located at 42 Franklin St in downtown Biddeford, the property sits near local breweries and tourism anchors within a high-foot-traffic district. The sale includes the restaurant facility and real estate, while the current business name and trademark, recipes, and professional smoker unit are excluded.
Key Highlights
- 2,464‑square‑foot restaurant property at 42 Franklin St
- Commercial zoning supports the restaurant use
- Operating Texas‑style BBQ format with full‑service dining infrastructure
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
$29,801
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
5.18%
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%
$596,020
$596.0K
Cap Rate 7%
$425,729
$425.7K
Cap Rate 9%
$331,122
$331.1K
Market Conditions
NOI Build-Up for 2,464 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
$44.4K $18.00/SF
− Vacancy
−$4.6K −$1.87/SF
EGI
$39.7K $16.13/SF
− OpEx
−$9.9K −$4.03/SF
NOI
$29.8K $12.09/SF
Area
York County, ME
Vacancy
10.41%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$596,020
Cap Rate 7%
$425,729
Cap Rate 9%
$331,122
Alternative Uses
Best Use
Specialty Retail
$425.7K
$372.5K – $496.7K
NOI $29,801 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$781.1K
$683.4K – $911.3K
NOI $54,675 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,356
Businesses Nearby
52k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 45%
Home Improvements & Furnishings 1%
Dunkin' Donuts
Dining
9,783 visits/mo
0.4 miles
7-Eleven
Shops & Services
9,374 visits/mo
0.1 miles
ScrubaDub Car Wash
Shops & Services
6,840 visits/mo
0.4 miles
Shell
Shops & Services
5,346 visits/mo
0.4 miles
Bangor Savings Bank
Shops & Services
4,190 visits/mo
0.3 miles
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Commercially zoned property with an operating Texas-style BBQ format and full-service dining infrastructure.
Where is this conventional restaurant located?
The property is located at 42 FRANKLIN ST Biddeford, ME.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,464‑square‑foot restaurant property at 42 Franklin St; Commercial zoning supports the restaurant use; Operating Texas‑style BBQ format with full‑service dining infrastructure
