Saco Mixed-Use Development
For Sale
Contact for pricing
644 Main St - 10 550 SF Building & Land, Saco, ME 04072
2.28 acres with building and buildable lot on Rt. 1.
Property Size10,550 SF
Lot Size2.28 Acres
Price / SF$218.01
Days on Market1489
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
Zoning
PR
Listing Agency:
Exp Realty
(207) 318-9984
Listed By:
Michael Rogers · License #ME BR900937
Source:
Crexi
Added: Jul 15, 2022
Changed: Aug 11
Last Checked: May 20 at 8:24PM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
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
$131,031
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
5.70%
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%
$2,620,620
$2.6M
Cap Rate 7%
$1,871,871
$1.9M
Cap Rate 9%
$1,455,900
$1.5M
Market Conditions
NOI Build-Up for 10,550 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
$227.9K $21.60/SF
− Vacancy
−$18.2K −$1.73/SF
EGI
$209.6K $19.87/SF
− OpEx
−$78.6K −$7.45/SF
NOI
$131.0K $12.42/SF
Area
York County, ME
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$2,620,620
Cap Rate 7%
$1,871,871
Cap Rate 9%
$1,455,900
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 authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 04072, ME
20,381
Population
9,619
Households
2.1
Avg Household Size
43
Median Age
40%
College-Educated
96%
High-School Grad
38.6 sq mi
ZIP Area
528
Density / Sq Mi
$84,328
Median Household Income
$47,419
Median Earnings
$1,268
Median Rent
$370,300
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?
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.
