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    345 North St Saco, ME 04072

    Sponsored
    For Sale
    $2,900,000

    Prime 14,000 SF restaurant, redevelopment opportunity.

    Property size:
    14,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property, located at 345 North Street in Saco, Maine, presents a compelling redevelopment opportunity. The 1.7-acre lot boasts approximately 300 feet of frontage on Route 112, offering significant visibility and accessibility. The property comprises three buildings totaling 14,000 square feet, currently leased to multiple tenants. Construction dates back to 1827, with renovations completed in 1998. Building 2 features a fully equipped commercial kitchen and bar, complete with an outdoor deck. The property is zoned B2C and benefits from its strategic location directly across from the new Maine Turnpike Exit 35 ramp onto Route 112, scheduled for completion in 2024. This new exit will provide convenient access to the Sebago Lake Region, significantly increasing traffic flow and visibility for the property. The four-story buildings offer considerable potential for various uses, making this a highly attractive investment for those seeking a prime redevelopment project in a rapidly growing area. The asking price is $2,900,000. This is a rare opportunity to acquire a substantial property in a desirable location with excellent future growth potential.

    Property Features for 345 North St

    General Information

    Property type
    Restaurants
    Square Feet
    14,000 SF
    Lot Size
    74,052 SF

    Building Details

    Year Built/Renovated
    1827/1998
    Buildings
    3
    Stories
    4

    HighLights

    • Prime redevelopment opportunity in Saco, ME.
    • 1.7‑acre lot with 300 feet of Route 112 frontage.
    • Three buildings totaling 14,000 square feet, currently leased.
    • Building 2 includes a commercial kitchen and bar with outdoor deck.
    • B2C zoning, directly across from the new Maine Turnpike Exit 35 (opening 2024).
    • Asking price: $2,900,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Fendersen Village Shoppes Shopping Mall Marketplace Maine Gift Shop 345 north street ... Restaurant It's About You ... Beauty Salon Shea Associates Business To Business Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Saco
    County
    York
    State
    Maine
    Longitude
    -70.4562056
    Latitude
    43.5198246

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    FAQs

    What type of property is this?
    Restaurant - Prime 14,000 SF restaurant, redevelopment opportunity.
    Where is this restaurant located?
    The property is located at 345 North St Saco, ME.
    What is the asking price?
    The asking price for this property is $2,900,000.
    What are key features of this property?
    This property features: Prime redevelopment opportunity in Saco, ME.; 1.7-acre lot with 300 feet of Route 112 frontage.; Three buildings totaling 14,000 square feet, currently leased.
    Request Owner's contact information
    345 North St Saco, ME 04072
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    Realmo Value Estimation

    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.

    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.

    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
    345 North St Saco, ME 04072
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