Warehouse with Natural
For Sale
$399,000
70 Route 236, Kittery, ME 03904
C-2-zoned warehouse with natural gas in place and public utilities ready for connection.
Property Size2,400 SF
Lot Size0.50 Acres
Days on Market905
Property Features for 70 Route 236
General Information
Standard status
Active
Size
2,400 SF
Lot size
0.50 Acres
Property subtype
Commercial
Zoning
C-2
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$3,815
Building Details
Building Size
2,400 SF
Year Built
1965
Listing Agency:
Compass Real Estate
(603) 560-3411
Listed By:
Scott Rome
(603) 560-3411
Source:
Startpoint
Added: Mar 8, 2024
Changed: Aug 29
Last Checked: Aug 29 at 6:09PM
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 Compass Real Estate
Investment Insights
Based on property information with market context.
This warehouse property was built in 1965 and includes several completed improvements. Natural gas is already available on site, while public utilities are positioned for connection. The property occupies 0.5 acres and is zoned C-2.
Located on Dow Highway at 70 Route 236 in Kittery, the site is less than a mile from I-95. The route carries thousands of vehicles daily, providing direct exposure to passing traffic.
Located on Dow Highway at 70 Route 236 in Kittery, the site is less than a mile from I-95. The route carries thousands of vehicles daily, providing direct exposure to passing traffic.
Key Highlights
- 0.5‑acre warehouse property built in 1965
- C‑2 zoning supports commercial use
- Natural gas already in place
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
$30,052
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
7.53%
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%
$601,040
$601.0K
Cap Rate 7%
$429,314
$429.3K
Cap Rate 9%
$333,911
$333.9K
Market Conditions
NOI Build-Up for 2,400 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
$36.0K $15.00/SF
− Vacancy
−$644 −$0.27/SF
EGI
$35.4K $14.73/SF
− OpEx
−$5.3K −$2.21/SF
NOI
$30.1K $12.52/SF
Area
York County, ME
Vacancy
1.79%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
15.00%
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%
$601,040
Cap Rate 7%
$429,314
Cap Rate 9%
$333,911
Alternative Uses
Best Use
Warehouse
$429.3K
$375.7K – $500.9K
NOI $30,052 @ 7.0% cap · market cap 7.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$760.8K
$665.7K – $887.6K
NOI $53,255 @ 7.0% cap · market cap 13.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 03904, ME
8,148
Population
4,375
Households
1.9
Avg Household Size
42
Median Age
40%
College-Educated
96%
High-School Grad
10.9 sq mi
ZIP Area
748
Density / Sq Mi
$74,551
Median Household Income
$50,752
Median Earnings
$1,458
Median Rent
$415,700
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Island Marine Service — 32 ME-236, Kittery, ME 03904
- The Storage Solutions - Kittery — 91 ME-236, Kittery, ME 03904
- Prime Storage — 61 Dow Hwy, Eliot, ME 03903
Frequently Asked Questions
What type of property is this?
Warehouse - C-2-zoned warehouse with natural gas in place and public utilities ready for connection.
Where is this warehouse located?
The property is located at 70 Route 236 Kittery, ME.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 0.5‑acre warehouse property built in 1965; C‑2 zoning supports commercial use; Natural gas already in place
