Renovated 20-Room
For Sale
$2,650,000
650 Main Street, Saco, ME 04072
The property includes two office spaces and a private owner’s suite.
Property Size11,688 SF
Price / SF$226.73
Days on Market210
Property Features for 650 Main Street
General Information
Standard status
Active
Size
11,688 SF
Property subtype
Commercial
Lease Term
[]
Building Details
Year Built
1955
Listing Agency:
American Real Estate
Listed By:
Mushreq Alsamraee
(207) 536-4222
Source:
Portsiderealestategroup
Added: Feb 2
Changed: Aug 29
Last Checked: Aug 30 at 6:13PM
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 American Real Estate
Investment Insights
Based on property information with market context.
Located at 650 Main Street in Saco, Maine, this motel contains 20 guest rooms within an 11,688-square-foot property. The accommodations have been renovated, and the site includes two office spaces along with a private owner’s suite.
The property occupies 0.93 acres and was originally built in 1955. Its combination of guest lodging, administrative space, and private quarters creates a defined hospitality configuration within the existing improvements.
The property occupies 0.93 acres and was originally built in 1955. Its combination of guest lodging, administrative space, and private quarters creates a defined hospitality configuration within the existing improvements.
Key Highlights
- 20‑room motel on 0.93 acre
- 11,688 square feet of property size
- Recently renovated guest accommodations
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
$141,571
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
5.34%
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%
$2,831,420
$2.8M
Cap Rate 7%
$2,022,443
$2.0M
Cap Rate 9%
$1,573,011
$1.6M
Market Conditions
NOI Build-Up for 11,688 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
$350.6K $30.00/SF
− Vacancy
−$52.6K −$4.50/SF
EGI
$298.0K $25.50/SF
− OpEx
−$156.5K −$13.39/SF
NOI
$141.6K $12.11/SF
Area
York County, ME
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
52.50%
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%
$2,831,420
Cap Rate 7%
$2,022,443
Cap Rate 9%
$1,573,011
Alternative Uses
Best Use
Hotel Hospitality
$2.02M
$1.77M – $2.36M
NOI $141,571 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.71M
$3.24M – $4.32M
NOI $259,353 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04072, ME
20,381
Population
9,619
Households
2.1
Avg Household Size
43
Median Age
40%
College-Educated
96%
High-School Grad
38.6 sq mi
ZIP Area
528
Density / Sq Mi
$84,328
Median Household Income
$47,419
Median Earnings
$1,268
Median Rent
$370,300
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Saco Motel — 473 Main St, Saco, ME 04072
- Evergreen Motor Court — 46 Ocean Park Rd, Saco, ME 04072
- Exit 5 Motel & Cottages — 18 Ocean Park Rd, Saco, ME 04072
- Classic Inn — 21 Ocean Park Rd, Saco, ME 04072
- Brookside Inn & Cottages — 30 Ocean Park Rd, Saco, ME 04072
Frequently Asked Questions
What type of property is this?
Motel - The property includes two office spaces and a private owner’s suite.
Where is this motel located?
The property is located at 650 Main Street Saco, ME.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 20‑room motel on 0.93 acre; 11,688 square feet of property size; Recently renovated guest accommodations
