Building Details

Building Size 2,000 SF

Listing Agency: Real Broker m***@therealbrokerage.com Show Phone

Listed By: Daniel Hickman Show Phone

Source: Amerorealty

Added: Nov 1, 2024 Changed: Oct 31 Last Checked: Oct 31 at 2:15PM

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Investment Insights

Based on property information with market context.

At 50 Portland Road in Bridgton, this 2,000-square-foot storefront spans two levels. The main floor includes a showroom, reception area, three private offices, and two half-baths. Two exterior front entrances allow the main-level space to be divided into separate areas. Upstairs, two additional rooms can accommodate desk space or storage; the property also previously contained a small apartment.

Customer parking is available in front, with further parking for staff at the rear. The property is zoned Village.

Key Highlights

• 2,000‑square‑foot storefront at 50 Portland Road, Bridgton, ME
• Main level features a showroom, reception area, three private offices, and two half‑baths
• Two exterior front entrances support division of the main‑level space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,916

Cap Rate

5.43%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$418,320 $418.3K

Cap Rate 7%

$298,800 $298.8K

Cap Rate 9%

$232,400 $232.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,000 SF

Gross rent

$36.0K $18.00/SF

− Vacancy

−$6.1K −$3.06/SF

EGI

$29.9K $14.94/SF

− OpEx

−$9.0K −$4.48/SF

NOI

$20.9K $10.46/SF

Area

Cumberland County, ME

Vacancy

17.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$418,320

Cap Rate 7%

$298,800

Cap Rate 9%

$232,400

Alternative Uses

Best Use

Retail

$298.8K

$261.5K – $348.6K (±1% cap)

NOI $20,916 @ 7.0% cap · market cap 5.43%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$549.7K

$481.0K – $641.3K (±1% cap)

NOI $38,479 @ 7.0% cap · market cap 9.99%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Storage Facility Garden Center (Bike/Boat/Book/etc) Store Cafe & Coffee 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.

Location Intelligence

Trade Area within ½ mile

306

Businesses Nearby

53k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 50% Dining 32% Shops & Services 19%

Hannaford Groceries

26,203 visits/mo 0.3 miles

McDonald's Dining

14,269 visits/mo 0.4 miles

Shell Shops & Services

6,027 visits/mo 0.2 miles

SUBWAY Dining

2,622 visits/mo 0.3 miles

TD Bank Shops & Services

2,549 visits/mo 0.4 miles

Demographics for 04009, ME

5,298

Population

4,580

Households

1.2

Avg Household Size

51

Median Age

32%

College-Educated

93%

High-School Grad

56.5 sq mi

ZIP Area

94

Density / Sq Mi

$86,386

Median Household Income

$48,737

Median Earnings

$1,196

Median Rent

$286,600

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Village-zoned commercial property offers customer parking at the front and additional staff parking behind the building.

Where is this storefront property located?

The property is located at 50 Portland Road Bridgton, ME.

What is the asking price?

The asking price for this property is $385,000.

What are key features of this property?

This property features: 2,000‑square‑foot storefront at 50 Portland Road, Bridgton, ME; Main level features a showroom, reception area, three private offices, and two half‑baths; Two exterior front entrances support division of the main‑level space