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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    578 Us Route 1 Scarborough, ME 04074

    • Retail properties
    • 11,305 SF
    • 8.04 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 578 Us Route 1

    Year built
    1930
    Lot size
    8.04 lot acres
    Property size
    11,305 SF
    Property type
    Retail properties

    Description

    This exceptional retail property, located at 578 US Route One in Scarborough, Maine, presents a compelling investment opportunity. The 11,305 square foot building sits on a substantial 8.04-acre lot, offering significant redevelopment potential. Built in 1930, the property is currently utilized as a flea market, but its versatile zoning (TVC, TVC3, and R4) allows for a multitude of uses. The convenient location, less than three miles from Exit 42 of the Maine Turnpike, ensures high visibility and accessibility. Daily traffic counts on Route One average approximately 14,300 vehicles, providing excellent exposure for any business. The current tenant operates under a tenancy at will agreement. This presents a unique chance to acquire a large parcel of land in a high-traffic area with diverse zoning possibilities, making it ideal for both commercial and residential development. The asking price for this significant property is $1,100,000. The property's size and location in Scarborough, Cumberland County, Maine (zip code 04074) make it a truly remarkable investment prospect. This is a rare opportunity to acquire a substantial property with significant upside potential in a desirable Maine location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Scarborough
    County
    Cumberland
    State
    Maine
    Longitude
    -70.3843
    Latitude
    43.573

    Comparable in this City

    • Value Estimation
      $935,000
      8,190 SF

      400 Roundwood Dr

      DEPARTMENT STORE • 8,190 SF
      400 Roundwood Dr, Scarborough, ME 04074-8205
      View Details
    • Value Estimation by Request

      174 Us-1

      Office Properties & Spaces
      174 Us-1, Scarborough, ME 04074
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    • Value Estimation
      $1,740,000
      19,400 SF

      618 Us Rte 1st 1

      DEPARTMENT STORE • 19,400 SF
      618 Us Rte 1st 1, Scarborough, ME 04074-9618
      View Details
    • Value Estimation
      $1,645,000
      17,753 SF

      410 Payne Rd

      DEPARTMENT STORE • 17,753 SF
      410 Payne Rd, Scarborough, ME 04074-8900
      View Details
    • Value Estimation by Request
      960 SF

      82 Spurwink Rd

      DEPARTMENT STORE • 960 SF
      82 Spurwink Rd, Scarborough, ME 04074-8643
      View Details
    • Value Estimation by Request
      3,100 SF

      123 Payne Rd

      DEPARTMENT STORE • 3,100 SF
      123 Payne Rd, Scarborough, ME 04074-9792
      View Details

    Similar Nearby for Sale

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    • $5,000,000
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    • $5,000,000
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      Fully Leased Retail Plaza

      26,464 SF retail plaza on US Route One.
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    • $1,000,000
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      Scarborough Commercial Land with Views

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    Similar Nearby for Lease

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      Scarborough Office Space For Lease

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      10,000 SF

      Retail Space on US Route 1

      Retail suites available for rent on US Route 1.
      707 Us Route 1, Scarborough, ME 04074
      View Details
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    578 Us Route 1
    Scarborough, ME 04074
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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
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