Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Outparcel For Lease Title is generated by Realmo AI

    299 Elm St, Biddeford, ME 04005

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail outparcel available for lease.

    Type:Retail, Office
    Added:
    Aug 28, 2024
    Days on Market:
    644
    Last Refresh:
    May 12 at 9:58 pm

    Property Features for 299 Elm St

    General Information

    Standard status
    Active
    Property subtype
    Retail, Office

    Building Details

    Year Built
    1989

    Spaces For Lease

    at 299 Elm St Contact us

    $24/Mo

    Size
    2,456 SF
    Type
    Retail, Office
    Contact us

    We can help!

    Listing Contact
    Mike Anderson

    Listing agent Mike Anderson License #ME 918812

    Listing office Malone Commercial Brokers

    Listing date Aug 28, 2024

    Source Crexi

    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 Malone Commercial Brokers

    HighLights

    • Out parcel for lease
    • Year built: 1989

    Overview

    This property is an outparcel available for lease. It is suitable for retail and office use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hannaford Pharmacy Pharmacy Hannaford Grocery & Convenience Store Western Union Bank Snowfox Sushi Restaurant Coinstar Kiosk | Bitcoin ... Atm

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Biddeford
    County
    York
    State
    Maine
    Longitude
    -70.4656508
    Latitude
    43.4881035

    Nearby Similar for Lease

    • $2,400/Mo
      1,000 SF

      Prime Retail Space Available

      1,000 SF retail space in high-traffic Biddeford location.
      299 Main St, Biddeford, ME
      View Details
    • $8 SF/Yr
      2,249 SF

      Riverfront Retail Space in Biddeford

      2,249± sf retail space along the Riverfront in Biddeford.
      28 Pearl Street, Biddeford, ME
      View Details
    • $11 SF/Yr
      7,651 SF

      Renovated Church Building Lower Level

      Renovated lower-level space with unique features available for lease.
      75 Bacon St, Biddeford, ME
      View Details
    • $1,300/Mo
      954 SF

      Downtown Biddeford Commercial Studio Space

      Commercial studio space in downtown Biddeford, ideal for manufacturing.
      22 Pearl St, Biddeford, ME
      View Details
    • $2,100/Mo
      1,088 SF

      Medical Office Condo For Lease

      Single-story medical office condo adjacent to SMHC Hospital.
      2 Medical Center Dr, Biddeford, ME
      View Details
    • $10 SF/Yr
      5,250 SF

      Biddeford Warehouse with Grow Rooms

      5,250 SF warehouse space suitable for various uses.
      10 Arctic Circle, Biddeford, ME
      View Details
    • $16 SF/Yr
      630 SF

      Historic Mill Campus Commercial Space

      Revitalized mill campus offering flexible commercial suites for lease.
      2 Main St Ste 37-101, Biddeford, ME
      View Details
    • $14 SF/Yr
      1,800 SF

      Retail Spaces for Lease

      Retail spaces available from 1,800 to 9,101± SF.
      380 Elm St, Biddeford, ME
      View Details
    • Contact for pricing

      Cultivation Facility For Rent

      Nearly built-out cultivation facility with core infrastructure in place.
      412 Hill St, Biddeford, ME 04005
      View Details
    • $12 SF/Yr
      12,000 SF

      Retail Space in Renovated Center

      Retail spaces available in a renovated multi-tenanted retail center.
      420 Alfred St , Biddeford, ME
      View Details
    • $6 SF/Yr
      20,400 SF

      Biddeford Warehouse Space for Lease

      20,400± SF warehouse/storage space available for lease immediately.
      26 Morin St, Biddeford, ME
      View Details
    • $28 SF/Yr
      64,800 SF

      Downtown Biddeford Class A Office

      New Class A office space in Biddeford, available Spring 2025.
      3 Lincoln Street, Biddeford, ME
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail outparcel available for lease.
    Where is this retail space located?
    The property is located at 299 Elm St Biddeford, ME.
    What is the lease rate?
    The lease rate is $24 SF/Yr.
    What are key features of this property?
    This property features: Out parcel for lease; Year built: 1989
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mike Anderson
    Real Estate License ID: ME 918812
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    299 Elm St, Biddeford, ME 04005
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!