90-Seat Diner with Fuel
For Sale
$1,200,000
62 Lagrange Road, Howland, ME 04448
Established diner, convenience store, and fuel operation positioned near I-95 with commercial zoning.
Property Size5,936 SF
Lot Size2.10 Acres
Price / SF$202.16
Days on Market1144
Property Features for 62 Lagrange Road
General Information
Standard status
Active
Size
5,936 SF
Lot size
2.10 Acres
Property subtype
Commercial
Zoning
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$11,820
Building Details
Building Size
5,936 SF
Buildings
1
Stories
1
Abandoned
No
Listing Agency:
Twin Rivers Realty
(207) 732-4376
Listed By:
Christopher Thompson
(207) 732-4376
Source:
Startpoint
Added: Jul 6, 2023
Changed: Aug 16
Last Checked: Aug 21 at 1:26PM
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 Twin Rivers Realty
Investment Insights
Based on property information with market context.
This operating diner and convenience store combines a 90-seat dining room with a bakery, grab-and-go retail, beer, lottery sales, and an agency liquor store. The 5936 Sq. Ft. building includes a walk-in freezer, smaller coolers, grills, fryers, and prep coolers. On-site fuel service includes gasoline, on- and off-road diesel, and kerosene, with credit-card purchasing available 24/7. The pumps and fire-suppression canopy were installed in 2017.
Set on 2.10 Acres, the property is 500 Feet from I-95 and provides parking in front of and behind the diner. The business serves local customers and seasonal travelers, with no full-service restaurant or gas station identified within 20 miles in either direction. Commercial zoning supports the current operating format. Inventory is included except for petroleum and alcohol. The owners plan to retire and will remain for training if needed.
Set on 2.10 Acres, the property is 500 Feet from I-95 and provides parking in front of and behind the diner. The business serves local customers and seasonal travelers, with no full-service restaurant or gas station identified within 20 miles in either direction. Commercial zoning supports the current operating format. Inventory is included except for petroleum and alcohol. The owners plan to retire and will remain for training if needed.
Key Highlights
- 90 seat diner with convenience store and gas station
- 5936 Sq. Ft. building on 2.10 Acres
- 500 Feet from I‑95
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
$80,865
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
6.74%
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%
$1,617,300
$1.6M
Cap Rate 7%
$1,155,214
$1.2M
Cap Rate 9%
$898,500
$898.5K
Market Conditions
NOI Build-Up for 5,936 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
$112.5K $18.96/SF
− Vacancy
−$4.7K −$0.80/SF
EGI
$107.8K $18.16/SF
− OpEx
−$27.0K −$4.54/SF
NOI
$80.9K $13.62/SF
Area
Penobscot County, ME
Vacancy
4.20%
Lease Rate
$18.96 /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%
$1,617,300
Cap Rate 7%
$1,155,214
Cap Rate 9%
$898,500
Alternative Uses
Best Use
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $80,865 @ 7.0% cap · market cap 6.74%
Second Best
Retail
$709.5K
$620.8K – $827.7K
NOI $49,663 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,201 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 04448, ME
1,265
Population
692
Households
1.8
Avg Household Size
52
Median Age
14%
College-Educated
92%
High-School Grad
93.9 sq mi
ZIP Area
13
Density / Sq Mi
$48,958
Median Household Income
$34,444
Median Earnings
$938
Median Rent
$115,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Breakfast & diner - Established diner, convenience store, and fuel operation positioned near I-95 with commercial zoning.
Where is this breakfast & diner located?
The property is located at 62 Lagrange Road Howland, ME.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 90 seat diner with convenience store and gas station; 5936 Sq. Ft. building on 2.10 Acres; 500 Feet from I‑95
