Building Details

Year Built 1999

Buildings 1

Listing Agency: Coldwell Banker Realty

Listed By: Julie Trask Show Phone

Source: Samonasgroup

Added: Aug 21 Changed: Oct 9 Last Checked: Oct 7 at 3:44PM

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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 Coldwell Banker Realty

Investment Insights

Based on property information with market context.

This car wash property includes three large service bays with 12-foot clearance and just over 300 square feet of office space. The improvements were constructed in 1999 and occupy a half-acre parcel with parking serving the site. Previously operated as a car wash, the property offers a functional automotive-oriented layout along with office support space.

The property is located on US Route 1 in Kittery, with reported traffic of 15,000 vehicles per day. I-95 access is approximately just over one mile away. The site is also near Portsmouth, the Portsmouth Naval Shipyard, the Kittery shopping outlets, and the York and Ogunquit beaches, with metropolitan Boston approximately one hour away.

Key Highlights

• Three large 12' tall service bays
• Just over 300 sq. ft. of office space
• Half‑acre parcel on US Route 1

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,953

Cap Rate

6.20%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$619,060 $619.1K

Cap Rate 7%

$442,186 $442.2K

Cap Rate 9%

$343,922 $343.9K

Market Conditions

NOI Build-Up for 2,208 SF

Gross rent

$48.5K $21.96/SF

− Vacancy

−$868 −$0.39/SF

EGI

$47.6K $21.57/SF

− OpEx

−$16.7K −$7.55/SF

NOI

$31.0K $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 Rate 5%

$619,060

Cap Rate 7%

$442,186

Cap Rate 9%

$343,922

Alternative Uses

Best Use

Flex RnD

$442.2K

$386.9K – $515.9K (±1% cap)

NOI $30,953 @ 7.0% cap · market cap 6.20%

Second Best

Retail

$383.1K

$335.2K – $446.9K (±1% cap)

NOI $26,814 @ 7.0% cap · market cap 5.37%

Theoretical Best

Office A

$699.9K

$612.4K – $816.6K (±1% cap)

NOI $48,995 @ 7.0% cap · market cap 9.82%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Auto Parts Store Furniture & Home Goods Grocery & Convenience Store Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

12 ft

Clear height

15,000 VPD

Traffic count

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

381

Businesses Nearby

Explore this area Business Placement

Demographics for 03904, ME

8,148

Population

4,375

Households

1.9

Avg Household Size

42

Median Age

40%

College-Educated

96%

High-School Grad

10.9 sq mi

ZIP Area

748

Density / Sq Mi

$74,551

Median Household Income

$50,752

Median Earnings

$1,458

Median Rent

$415,700

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this car washes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Car wash - Former car wash with three service bays, office space, parking, and direct access from US Route 1.

Where is this car wash located?

The property is located at 424 Us Route 1 Kittery, ME.

What is the asking price?

The asking price for this property is $499,000.

What are key features of this property?

This property features: Three large 12' tall service bays; Just over 300 sq. ft. of office space; Half‑acre parcel on US Route 1