Renovated Three-Story Office
New
For Sale
$499,900
997 Main Street, Sanford, ME 04073
Commercial Sale, Sanford, ME
Property Size2,576 SF
Lot Size0.33 Acres
Price / SF$194.06
Days on Market1
Property Features for 997 Main Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
U
Rooms
Basement
Interior features
Storage
Basement
Full
Accessibility
Accessible Approach with Ramp
Lot features
Public Transport Access, Near Airport, Downtown, Business District, Bus Line
Standard status
Active
Size
2,576 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4347
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Natural Gas, Hot Water(Heating)
Water source
Public
Amenities
conference room
kitchenette
three-story deck
ADA compliant ramp
Building Details
Year built
1905
Flooring type
Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Keller Williams Coastal and Lakes & Mountains Realty · Keller Williams Realty
(207) 475-0999
Listed By:
Heather Crosby · License #SA924003
(207) 432-7810
Added: Oct 6
Last Checked: Oct 6 at 10:06PM
MLS# 1683397
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-level office property was extensively rebuilt in 2022, with updates to the roof, siding, windows, plumbing, electrical systems, fire alarm, insulation, interior walls, bathrooms, and flooring. The 2,576-square-foot layout includes an open office area, reception and sitting spaces, conference and community workspace, a kitchenette, storage, and multiple enclosed offices. There are bathrooms on the first and second floors, and the first-floor restroom and ramp are ADA compliant.
The 0.33-acre property has more than 20 off-street parking spaces, natural gas heating, and public water and sewer. Its configuration also includes multiple entrances and exits, with exterior access from an upper-floor office to a three-story deck.
The 0.33-acre property has more than 20 off-street parking spaces, natural gas heating, and public water and sewer. Its configuration also includes multiple entrances and exits, with exterior access from an upper-floor office to a three-story deck.
Key Highlights
- Extensively renovated in 2022, including roof, siding, windows, plumbing, electrical, and fire alarm
- 2,576 square feet across three levels
- 0.33‑acre parcel with 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
—
—
no second resolved use
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
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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Cap Rate, Value Estimation, Potential NOI and more
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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?
Office building - The building combines open work areas, private offices, conference rooms, and more than 20 off-street parking spaces.
Where is this office building 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: Extensively renovated in 2022, including roof, siding, windows, plumbing, electrical, and fire alarm; 2,576 square feet across three levels; 0.33‑acre parcel with 20+ off‑street parking spaces
