Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    60 Ocean St South Portland, ME

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Impeccable 6006 SF restaurant space available for immediate occupancy.

    Type:RETAIL
    Property size:
    6,006 SF
    Lot size:
    0.11 Acres
    Added:
    Sep 17, 2024
    Days on Market:
    591
    Last Refresh:
    Apr 5 at 8:47 pm

    Property Features for 60 Ocean St

    General Information

    Standard status
    Active
    Size
    6,006 SF
    Lot size
    0.11 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 60 Ocean St Contact us

    We can help!

    Listing Contact
    Thomas Gadbois
    Thomas Gadbois

    Listing agent Thomas Gadbois License #BA918504

    Listing office F.O. Bailey Real Estate

    Listing date Sep 17, 2024

    Source Moodyscre

    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 F.O. Bailey Real Estate

    Overview

    Turn-Key Restaurant in Knightville

    This is a 6006 square foot turn-key restaurant space available for immediate occupancy in the Knightville area of South Portland, Maine. The space was formerly leased to Taco Trio. This property is suitable for restaurant or retail use.
    Location Intelligence

    Current Use by Public Records

    Turn key restaurants

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    South Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.2409
    Latitude
    43.6415

    Nearby Similar for Lease

    • $15 SF/Yr

      Restaurant/Retail Space For Sublease

      2,647± SF restaurant/retail space available for sublease.
      185 Cottage Rd., South Portland, ME
      View Details
    • $7 SF/Yr

      Retail Space in Cornerbrook Plaza

      High-performing retail center with flexible space and excellent accessibility.
      343 Gorham Rd, South Portland, ME
      View Details
    • $27 SF/Yr

      Freestanding Building at Cash Corner

      Freestanding building in high-traffic area with parking and yard space.
      1422 Broadway, South Portland, ME
      View Details
    • $15 SF/Yr

      Office Space in John Roberts

      Class A office space available for rent in South Portland.
      9 Donald B Dean Dr, South Portland, ME
      View Details
    • $13 SF/Yr

      Class A Office/Medical Building

      Class A office/medical building with suites available for lease.
      175 Running Hill Road, South Portland, ME
      View Details
    • $8 SF/Yr

      Industrial Space with LED Lighting

      28,800+/- sq ft industrial space for lease.
      155 Rumery St, South Portland, ME
      View Details
    • $16 SF/Yr

      Class-A Office Suite For Lease

      Full-floor office suite in South Portland's Maine Mall area.
      30 Long Creek Dr, South Portland, ME
      View Details
    • $16 SF/Yr

      South Portland Office Space Available

      Office space for lease near Maine Mall and Portland Jetport.
      311 Darling Ave, South Portland, ME
      View Details
    • $23 SF/Yr

      Retail Space Near Maine Mall

      Retail space with high visibility and ample parking available for lease.
      29 Western Ave, South Portland, ME
      View Details
    • $2,350/Mo

      South Portland Industrial Flex Space

      Flexible industrial space in South Portland, minutes from I-295.
      130 Thadeus St , South Portland, ME
      View Details
    • Contact for pricing

      Class A Office Space Available

      Class A office building with ample parking and professional landscaping.
      778 Main Street, South Portland, ME
      View Details
    • Contact for pricing

      South Portland Retail/Office Opportunity

      Modern, adaptable space in high-traffic Maine Mall area.
      264 Gorham Rd, South Portland, ME
      View Details

    FAQs

    What type of property is this?
    Turn key restaurant - Impeccable 6006 SF restaurant space available for immediate occupancy.
    Where is this turn key restaurant located?
    The property is located at 60 Ocean St South Portland, ME.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    What are key features of this property?
    This property features: 6006 +/- SF Turn‑Key Restaurant ready for your new business.; Available Immediately, so you can start serving customers right away.; Located in the Hottest Area of South Portland.
    (207) 409-8339 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Thomas Gadbois
    Thomas Gadbois
    Real Estate License ID: BA918504
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!