Saco Mixed-Use Development
644 Main St - 10 550 SF Building & Land, Saco, ME 04072
2.28 acres with building and buildable lot on Rt. 1.
Type:Industrial, Mixed Use, Retail, Self Storage
Property size:
10,550 SFLot size:
2.28 AcresPrice / SF:
$218/SF- Added:
- Jul 15, 2022
- Days on Market:
- 1418
- Last Refresh:
- May 20 at 8:24 pm
Property Features for 644 Main St - 10 550 SF Building & Land
General Information
- Standard status
- Active
- Size
- 10,550 SF
- Lot size
- 2.28 Acres
- Property subtype
- Industrial, Mixed Use, Retail, Self Storage
Listing agent Michael Rogers License #ME BR900937
Listing office Exp Realty
Listing date Jul 15, 2022
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 Exp Realty
HighLights
- High‑traffic location on Rt. 1 with 20,000+ daily vehicle count.
- Value‑add opportunity with existing 10,550 +/- sq ft building on 2.28 acres.
- Buildable corner lot included.
- Located in Saco's expanding business district.
- Qualifies for the Opportunity Zone Federal Investment Program.
- Additional land is available and site is part of a master plan.
Overview
This property presents a value-add opportunity to acquire 2.28 acres improved with a single-story 10,550 +/- square foot building. The site includes a buildable corner lot along Rt. 1, which benefits from a daily vehicle traffic count of over 20,000. The right side of the building has a tenant-at-will. The site is further improved with a two-unit, garage and cabins. The site is part of a master plan and qualifies for the Opportunity Zone Federal Investment Program. Additional land is available. Excluding the front pad site of 0.5 +/- acre, the list price is $ 1.6M. It's challenging to find a site at a light in Saco's expanding business district.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $227.9k | $21.60 |
| − Vacancy | −$18.2k | −$1.73 |
| EGI | $209.6k | $19.87 |
| − OpEx | −$78.6k | −$7.45 |
| NOI | $131.0k | $12.42 |
10,550 SF · lease $21.60/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$1.87M
$1.64M – $2.18M
NOI $131,031 @ 7.0% cap · market cap 5.70%
Second Best
Retail
$1.83M
$1.60M – $2.14M
NOI $128,118 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$3.34M
$2.93M – $3.90M
NOI $234,101 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Commercial land
Map
- City
- Saco
- County
- York
- State
- Maine
- Longitude
- -70.476
- Latitude
- 43.5496
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - 2.28 acres with building and buildable lot on Rt. 1.
Where is this mixed-use property located?
The property is located at 644 Main St - 10 550 SF Building & Land Saco, ME.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: High‑traffic location on Rt. 1 with 20,000+ daily vehicle count.; Value‑add opportunity with existing 10,550 +/- sq ft building on 2.28 acres.; Buildable corner lot included.
