Commercial Land with
For Sale
$689,000
8 Venture Way, Kennebunkport, ME 04046
Commercial land in Kennebunkport’s Free Enterprise Zone with public water and sewer service.
Property Size4,911 SF
Price / SF$140.30
Days on Market10
Property Features for 8 Venture Way
General Information
Standard status
Active
Size
4,911 SF
Property subtype
Commercial
Building Details
Year Built
1970
Listing Agency:
RE/MAX Realty One
Listed By:
Dawson Sibley
(603) 433-3350
Source:
Greatislandrealty
Added: Aug 13
Changed: Aug 22
Last Checked: Aug 22 at 9:04AM
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 RE/MAX Realty One
Investment Insights
Based on property information with market context.
This commercial land offering is located at 8 Venture Way in Kennebunkport, Maine, within the Free Enterprise Zone. The property was formerly associated with a bait processing facility, and the operational equipment has been removed. Public water and sewer serve the site.
The property information identifies commercial, industrial, and residential use potential under flexible zoning. The seller will retain and use a portion of the overall tract, with the remaining portion conveyed to the purchaser. A road maintenance agreement is to be drafted between the seller and purchaser. The property is in Kennebunkport, a coastal Maine community, and is identified as a 1970 property.
The property information identifies commercial, industrial, and residential use potential under flexible zoning. The seller will retain and use a portion of the overall tract, with the remaining portion conveyed to the purchaser. A road maintenance agreement is to be drafted between the seller and purchaser. The property is in Kennebunkport, a coastal Maine community, and is identified as a 1970 property.
Key Highlights
- Located in Kennebunkport’s Free Enterprise Zone
- Public water and sewer available
- Commercial, industrial, and residential use potential
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
$50,642
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
7.35%
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%
$1,012,840
$1.0M
Cap Rate 7%
$723,457
$723.5K
Cap Rate 9%
$562,689
$562.7K
Market Conditions
NOI Build-Up for 4,911 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
$73.7K $15.00/SF
− Vacancy
−$1.3K −$0.27/SF
EGI
$72.3K $14.73/SF
− OpEx
−$21.7K −$4.42/SF
NOI
$50.6K $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 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%
$1,012,840
Cap Rate 7%
$723,457
Cap Rate 9%
$562,689
Alternative Uses
Best Use
Industrial
$723.5K
$633.0K – $844.0K
NOI $50,642 @ 7.0% cap · market cap 7.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $108,973 @ 7.0% cap · market cap 15.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 04046, ME
7,893
Population
4,740
Households
1.7
Avg Household Size
51
Median Age
41%
College-Educated
98%
High-School Grad
44.4 sq mi
ZIP Area
178
Density / Sq Mi
$99,861
Median Household Income
$43,000
Median Earnings
$1,250
Median Rent
$559,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercial land in Kennebunkport’s Free Enterprise Zone with public water and sewer service.
Where is this commercial land located?
The property is located at 8 Venture Way Kennebunkport, ME.
What is the asking price?
The asking price for this property is $689,000.
What are key features of this property?
This property features: Located in Kennebunkport’s Free Enterprise Zone; Public water and sewer available; Commercial, industrial, and residential use potential
