Building Details

Building Size 11,700 SF

Buildings 1

Listing Agency: Keller Williams Realty k***@kw.com Show Phone

Listed By: Matthew Boulerice · License #DB922634 Show Phone

Source: Amerorealty

Added: Nov 13, 2024 Changed: Oct 31 Last Checked: Oct 31 at 2:37PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

The industrial property includes an approximately 11,700-square-foot building on 16 acres. Multiple overhead garage doors, loading docks, and office space support a mix of indoor operations and outdoor storage. Two bays are leased, providing existing occupancy within the building.

Located just off Route 111 in Biddeford, the property is zoned LRF. A separate 35-acre parcel is also available.

Key Highlights

• 11,700‑square‑foot industrial building on 16 acres
• Substantial outdoor storage area
• Multiple overhead garage doors and loading docks

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$120,651

Cap Rate

8.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,413,020 $2.4M

Cap Rate 7%

$1,723,586 $1.7M

Cap Rate 9%

$1,340,567 $1.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 11,700 SF

Gross rent

$175.5K $15.00/SF

− Vacancy

−$3.1K −$0.27/SF

EGI

$172.4K $14.73/SF

− OpEx

−$51.7K −$4.42/SF

NOI

$120.7K $10.31/SF

Area

York County, ME

Vacancy

1.79%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,413,020

Cap Rate 7%

$1,723,586

Cap Rate 9%

$1,340,567

Alternative Uses

Best Use

Warehouse

$2.09M

$1.83M – $2.44M (±1% cap)

NOI $146,505 @ 7.0% cap · market cap 9.83%

Second Best

Industrial

$1.72M

$1.51M – $2.01M (±1% cap)

NOI $120,651 @ 7.0% cap · market cap 8.10%

Theoretical Best

Office A

$3.71M

$3.25M – $4.33M (±1% cap)

NOI $259,619 @ 7.0% cap · market cap 17.42%

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

HZ Auto Auto Repair Shop Casella Waste Systems Waste Management Facility

Suggested Use

Top Pick Electrical Service Furniture & Home Goods Dental Office Big Box & Wholesale Store Butcher 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.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

104

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 04005, ME

24,581

Population

11,001

Households

2.2

Avg Household Size

39

Median Age

29%

College-Educated

95%

High-School Grad

47.9 sq mi

ZIP Area

513

Density / Sq Mi

$71,268

Median Household Income

$39,176

Median Earnings

$1,186

Median Rent

$351,700

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

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Frequently Asked Questions

What type of property is this?

Warehouse - The property combines warehouse space, loading docks, office areas, and substantial outdoor storage.

Where is this warehouse located?

The property is located at 66 Andrews Road Biddeford, ME.

What is the asking price?

The asking price for this property is $1,490,000.

What are key features of this property?

This property features: 11,700‑square‑foot industrial building on 16 acres; Substantial outdoor storage area; Multiple overhead garage doors and loading docks