292 Main StSaco, ME 04072

Property Details for 292 Main St

Year built

1923

Construction

FRAME

Lot size

0.05 AC

Property size (Sq ft)

1,288 SF

Zone code

B-3

Property type

Office properties

Property subtype

Office buildings

APN

SACO M:038 L:103 U:001-000

APU

SACOM038L103U001000

Description

This exceptional 1,288 square foot commercial property at 292 Main Street, Saco, ME, presents a rare investment opportunity. Located in a vibrant downtown district, this vacant, single-level building boasts a newly installed roof and is ready for immediate occupancy. Its prime location, nestled between Bangor Savings Bank and Sweets & Co. bakery, ensures high foot traffic and visibility. Ample street parking is readily available. The property's 0.05-acre lot offers convenient access and is situated off US-Route 1, providing excellent exposure. Its proximity to the bustling downtown Biddeford area and easy access to I-95 and the Amtrak train station further enhance its appeal. The versatile space is ideal for a variety of uses, including but not limited to: yoga studio, dance studio, art studio, office space, retail shop, hair/nail salon, or a food-related business that could complement the neighboring cafe. This turnkey property offers an unparalleled chance to establish a thriving business in a rapidly growing area, capitalizing on Maine's anticipated 2025 tourism season. Don't miss this chance to own a piece of Saco's thriving commercial landscape. The asking price is $385,000.

• CAP approach

  CAP return

  Valuation

  6%

  $212,945

  6.5%

  $196,564

  7%

  $182,524

• Comparable approach

  Method

  Valuation

  Relative Method

  $168,290

  Geo Method

  $168,290

• Alternative Use

  Use

  Valuation

  Residential

  $243,740

  Hospitality

  $223,265

  Educational

  $185,753

  Medical

  $192,142

  Retail

  $288,950

Location Insight

City

Saco

County

York

State

Maine

Latitude

43.4988

Longitude

-70.4452

CBSA code

38860

CBSA name

PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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