NNN Industrial Property with Drive-In
For Sale
$795,000
42 Jagger Mill Road, Sanford, ME 04073
Industrial-business zoning, an existing tenant, and expansion capacity support a range of commercial operating and leasing plans.
Property Size4,340 SF
Lot Size2.40 Acres
Price / SF$184.88
Days on Market692
Property Features for 42 Jagger Mill Road
General Information
Standard status
Active
Size
4,340 SF
Lot size
2.40 Acres
Property subtype
Commercial
Zoning
IB
Net Operating Income
$19,873
Site & Location
Corner Location
Yes
Traffic Count
16,340 vehicles/day
Road Access
Yes
Additional Details
Drive-In Doors
4
Taxes and HOA fees
Annual Taxes
$4,805
Building Details
Building Size
4,340 SF
Year Built
2006
Buildings
1
Tenancy
Single
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
(207) 590-0909
Listed By:
Paula Standley
(207) 590-0909
Source:
Startpoint
Added: Sep 19, 2024
Changed: Aug 10
Last Checked: Aug 10 at 11:17AM
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 Better Homes & Gardens Real Estate/The Masiello Group
Investment Insights
Based on property information with market context.
This 2.4-acre commercial property includes a 4,300-square-foot building constructed in 2006. The building has high ceilings and four drive-in doors, providing a functional layout for industrial, warehouse, and other commercial operations. The property is zoned IB and currently accommodates Aroma Joe's under an NNN lease.
Positioned at the corner of Jagger Mill Road and Route 109, also identified as Main Street, the site is in Sanford and has an average daily traffic count of 16,340 according to MDOT. Approximately 5,000 square feet of additional building capacity is identified for future expansion, offering a way to increase the property's existing footprint. The site also previously housed Maine Ammo Company.
Positioned at the corner of Jagger Mill Road and Route 109, also identified as Main Street, the site is in Sanford and has an average daily traffic count of 16,340 according to MDOT. Approximately 5,000 square feet of additional building capacity is identified for future expansion, offering a way to increase the property's existing footprint. The site also previously housed Maine Ammo Company.
Key Highlights
- 2.4‑acre site in Sanford's IB Industrial Business zone
- 4,300 SF building constructed in 2006
- Four drive‑in doors and high ceilings
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
$60,280
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
7.58%
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%
$1,205,600
$1.2M
Cap Rate 7%
$861,143
$861.1K
Cap Rate 9%
$669,778
$669.8K
Market Conditions
NOI Build-Up for 4,300 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
$94.4K $21.96/SF
− Vacancy
−$1.7K −$0.39/SF
EGI
$92.7K $21.57/SF
− OpEx
−$32.5K −$7.55/SF
NOI
$60.3K $14.02/SF
Area
York County, ME
Vacancy
1.79%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
35.00%
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%
$1,205,600
Cap Rate 7%
$861,143
Cap Rate 9%
$669,778
Alternative Uses
Best Use
Flex RnD
$861.1K
$753.5K – $1.00M
NOI $60,280 @ 7.0% cap · market cap 7.58%
Second Best
Warehouse
$769.2K
$673.1K – $897.4K
NOI $53,844 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,416 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
16,340 VPD
Traffic count
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 04073, ME
17,283
Population
7,772
Households
2.2
Avg Household Size
41
Median Age
21%
College-Educated
90%
High-School Grad
37.7 sq mi
ZIP Area
458
Density / Sq Mi
$69,135
Median Household Income
$42,758
Median Earnings
$1,145
Median Rent
$259,500
Median Home Value
Market
Vacancy Rate% for Industrial 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?
NNN property - Industrial-business zoning, an existing tenant, and expansion capacity support a range of commercial operating and leasing plans.
Where is this nnn property located?
The property is located at 42 Jagger Mill Road Sanford, ME.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 2.4‑acre site in Sanford's IB Industrial Business zone; 4,300 SF building constructed in 2006; Four drive‑in doors and high ceilings
