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    309 Shore Rd Ogunquit, ME 03907

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    For Lease
    Contact for pricing

    Restaurant space, Perkins Cove access, ample parking.

    Lot size:
    10,736 SF

    Property Features for 309 Shore Rd

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    10,736 SF
    Total Rate
    22366.67

    Building Details

    Year Built
    1995

    Spaces For Lease

    at 309 Shore Rd, Ogunquit, ME 03907 Contact us
    Unit Restaurant Space at Thomson Green

    $25 /Mo

    Size
    3,489 SF
    Contact us

    We can help!

    Listing Contact
    Christopher Gallagher
    Christopher Gallagher

    Listing Agency: The Boulos Company Listing Agent: Christopher Gallagher

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 3,489 square foot restaurant space is located at 309 Shore Rd in Ogunquit, Maine, within the desirable Limited Business District (LBD) zoning. Situated on a 1.25-acre lot (APN 003/017, York County), this property boasts a prime corner location at the entrance to Perkins Cove, offering unparalleled visibility and accessibility. Built in 1995, the building features a total of 10,736 square feet, with this space representing one available unit within a multi-tenant building. The property includes 30 on-site parking spaces, a significant advantage in a high-traffic area. Existing restaurant infrastructure is in place, simplifying the setup for a new operator. The location is also conveniently situated within walking distance of Ogunquit's vibrant downtown corridor, providing easy access to a large customer base. The ample space and fantastic outdoor dining area present a unique opportunity to establish a thriving restaurant business in a highly sought-after location. This property offers a blend of convenience, visibility, and established infrastructure, making it an ideal investment for experienced restaurateurs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Real Estate Agency Pharmacy Kitchen & Bath Showroom Gym & Fitness Center Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Ogunquit
    County
    York
    State
    Maine
    Longitude
    -70.5943296
    Latitude
    43.23945826

    Nearby Similar for Lease

    • Contact for pricing
      3,489 SF

      Restaurant Space in Perkins Cove

      Restaurant space with existing infrastructure and ample parking available for rent.
      309 Shore Rd, Ogunquit, ME 03907
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Restaurant space, Perkins Cove access, ample parking.
    Where is this individual retail property located?
    The property is located at 309 Shore Rd Ogunquit, ME.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: 3,489 SF restaurant space in Ogunquit, ME's Limited Business District (LBD).; Prime corner location at Perkins Cove entrance on a 1.25-acre lot (APN 003/017).; Part of a 10,736 SF multi-tenant building (built 1995) with 30 on-site parking spaces.
    (207) 772-1333 Call to check price and availability
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    309 Shore Rd Ogunquit, ME 03907
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    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
    309 Shore Rd Ogunquit, ME 03907
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Christopher Gallagher
    Christopher Gallagher
    (207) 772-1333 (207) 553-1728
    Learn more
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