Three-Level Mixed-Use
For Sale
$499,900
997 Main Street, Sanford, ME 04073
Renovated interior combines open workspace, private offices, meeting areas, and a kitchenette across three floors.
Property Size2,576 SF
Price / SF$194.06
Days on Market10
Property Features for 997 Main Street
General Information
Standard status
Active
Size
2,576 SF
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1905
Year Renovated
2022
Stories
3
Listing Agency:
Keller Williams Coastal and Lakes & Mountains Realty
Listed By:
Heather Crosby · License #SA924003
(207) 432-7810
Source:
Greatislandrealty
Added: Oct 2
Changed: Oct 10
Last Checked: Oct 10 at 2:20AM
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 Keller Williams Coastal and Lakes & Mountains Realty
Investment Insights
Based on property information with market context.
At 997 Main Street in Sanford, this three-level mixed-use property contains 2,576 square feet and was built in 1905. A full interior and exterior renovation was completed in 2022, with work including the roof, siding, windows, plumbing, electrical, insulation, fire alarm, bathrooms, and flooring. The first floor has a reception area, open office, conference or community workspace, front porch, kitchenette, and an ADA-compliant half bathroom. An accessible ramp and front steps provide entry.
The second floor includes two enclosed offices, a private meeting room with an exterior exit, and a full bathroom. Two more enclosed offices occupy the third floor; one connects to a three-story deck with stairs to ground level. The property has 20+ off-street parking spaces, natural gas, and multiple entrances and exits. The stated possibilities include continued commercial use, residential conversion, or commercial space on the first floor with residential use above.
The second floor includes two enclosed offices, a private meeting room with an exterior exit, and a full bathroom. Two more enclosed offices occupy the third floor; one connects to a three-story deck with stairs to ground level. The property has 20+ off-street parking spaces, natural gas, and multiple entrances and exits. The stated possibilities include continued commercial use, residential conversion, or commercial space on the first floor with residential use above.
Key Highlights
- 2,576 square feet across three levels
- Renovated in 2022, including roof, siding, windows, plumbing, electrical, and fire alarm system
- 20+ off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,195
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$843,900
$843.9K
Cap Rate 7%
$602,786
$602.8K
Cap Rate 9%
$468,833
$468.8K
Market Conditions
NOI Build-Up for 2,576 SF
Gross rent
$64.3K $24.96/SF
− Vacancy
−$8.0K −$3.12/SF
EGI
$56.3K $21.84/SF
− OpEx
−$14.1K −$5.46/SF
NOI
$42.2K $16.38/SF
Area
York County, ME
Vacancy
12.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$843,900
Cap Rate 7%
$602,786
Cap Rate 9%
$468,833
Alternative Uses
Best Use
Office B
$602.8K
$527.4K – $703.3K
NOI $42,195 @ 7.0% cap · market cap 8.44%
Second Best
Mixed Use
$457.1K
$399.9K – $533.2K
NOI $31,994 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$816.6K
$714.5K – $952.7K
NOI $57,161 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
Explore this area
Business Placement
Demographics for 04073, ME
17,283
Population
7,772
Households
2.2
Avg Household Size
41
Median Age
21%
College-Educated
90%
High-School Grad
37.7 sq mi
ZIP Area
458
Density / Sq Mi
$69,135
Median Household Income
$42,758
Median Earnings
$1,145
Median Rent
$259,500
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated interior combines open workspace, private offices, meeting areas, and a kitchenette across three floors.
Where is this mixed-use property located?
The property is located at 997 Main Street Sanford, ME.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 2,576 square feet across three levels; Renovated in 2022, including roof, siding, windows, plumbing, electrical, and fire alarm system; 20+ off‑street parking spaces
