Restaurant Building with Trail
7 Park Street, Springfield, ME 04487
For Sale
$139,000
Commercial Sale, Springfield, ME
Property Size600 SF
Lot Size4.00 Acres
Price / SF$231.67
Days on Market51
Property Features for 7 Park Street
General Information
Property type
Property subtype
Zoning
Rooms
Basement
Lot features
Standard status
Size
Lot size
Additional Details
Corner Location
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Water front features
Water front
Building Details
Year built
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
Acres Away, Inc.
(207) 794-2700
Listed By:
Alan Staples · License ME #924109
(239) 398-0261
Added: Sep 22
Changed: Oct 27
Last Checked: Nov 11 at 11:06AM
MLS# 1681523
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 600-square-foot restaurant building sits on a 4-acre corner lot and was constructed in 2016. Previously operated as a takeout, the property includes a full poured-concrete basement, linoleum flooring, metal roofing, wood-frame construction, and wood and vinyl siding. A heat pump provides both heating and air conditioning. The building is served by a private well and private engineered septic system.
The property has direct access to the ITS snowmobile trail system, with ATV trail access nearby. Its outdoor-oriented setting provides proximity to Lakeville and regional waterways including Junior Lake, Sysladobsis Lake, and West Grand Lake. The site offers a foundation for a restaurant or other small-business use, subject to applicable requirements and approvals.
The property has direct access to the ITS snowmobile trail system, with ATV trail access nearby. Its outdoor-oriented setting provides proximity to Lakeville and regional waterways including Junior Lake, Sysladobsis Lake, and West Grand Lake. The site offers a foundation for a restaurant or other small-business use, subject to applicable requirements and approvals.
Key Highlights
- 600‑square‑foot building on 4 acres
- Constructed in 2016 with wood‑frame construction
- Full poured‑concrete basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,174
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$163,480
$163.5K
Cap Rate 7%
$116,771
$116.8K
Cap Rate 9%
$90,822
$90.8K
Market Conditions
NOI Build-Up for 600 SF
Gross rent
$11.4K $18.96/SF
− Vacancy
−$478 −$0.80/SF
EGI
$10.9K $18.16/SF
− OpEx
−$2.7K −$4.54/SF
NOI
$8.2K $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 Rate 5%
$163,480
Cap Rate 7%
$116,771
Cap Rate 9%
$90,822
Alternative Uses
Best Use
Specialty Retail
$116.8K
$102.2K – $136.2K
NOI $8,174 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$193.8K
$169.6K – $226.1K
NOI $13,565 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 04487, ME
778
Population
987
Households
0.8
Avg Household Size
57
Median Age
11%
College-Educated
92%
High-School Grad
226.7 sq mi
ZIP Area
3
Density / Sq Mi
$41,136
Median Household Income
$27,794
Median Earnings
$87,100
Median Home Value
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Market
Average Price Trend$/SF for Conventional restaurants in Penobscot County, ME
Properties on Market for Conventional restaurants in Penobscot County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A 2016 takeout building with private utilities, basement storage, and access to regional snowmobile and ATV trail networks.
Where is this conventional restaurant located?
The property is located at 7 Park Street Springfield, ME.
What is the asking price?
The asking price for this property is $139,000.
What are key features of this property?
This property features: 600‑square‑foot building on 4 acres; Constructed in 2016 with wood‑frame construction; Full poured‑concrete basement
