Building Details

Year Built 1970

Listing Agency: RE/MAX Realty One

Listed By: Dawson Sibley Show Phone

Source: Greatislandrealty

Added: Aug 7 Changed: Oct 6 Last Checked: Oct 5 at 8:56PM

Report an Issue

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.

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 / Yr

$50,642

Cap Rate

7.35%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

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 (±1% cap)

NOI $108,973 @ 7.0% cap · market cap 15.82%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Commercial land

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Grocery & Convenience Store Catering Service Cosmetic Store Travel Agency Supermarket

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this commercial land located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Mixed-Use Property with Retail

3 Union Street, Kennebunkport, ME 04046

$3,499,000

6,258 SF

View details

Furnished Three-Family Residence

2 Elm St, Kennebunkport, ME 04046

$2,240,000

2,888 SF

View details

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