6 Lebanon StSanford, ME 04073

Property Details for 6 Lebanon St

Year built

1945

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.04 AC

Property size (Sq ft)

1,399 SF

Zone code

DB

Property type

Retail properties

Property subtype

Turn key restaurants

APN

SANF M:0K28 B:2

APU

SANFM0K28B2

Description

This exceptional 2,000-square-foot restaurant located at 6 Lebanon St, Sanford, ME 04073, is available for sale or lease. Built in 1945 and completely renovated in 2023, this turnkey operation boasts updated plumbing and electrical systems, ensuring a smooth transition for a new owner or tenant. The property sits on a 0.03-acre lot and is zoned UB, offering significant potential. With a seating capacity of 48, the restaurant comes fully equipped, including all necessary equipment as part of the lease. The asking price is $250,000, representing a price per square foot of $125. The property's strong location provides excellent road visibility, ensuring high traffic and customer exposure. Financial projections indicate a pro-forma NOI of $18,000 and a 7.20% pro-forma cap rate. The property is currently vacant, presenting a unique opportunity for immediate occupancy. All necessary zoning inspections have been completed. This is a rare opportunity to acquire a fully operational, updated restaurant in a prime Sanford location. The APN is SANF-000002-K000028.

• CAP approach

  CAP return

  Valuation

  6%

  $340,006

  6.5%

  $313,852

  7%

  $291,434

• Comparable approach

  Method

  Valuation

  Relative Method

  $460,639

  Geo Method

  $460,639

• Alternative Use

  Use

  Valuation

  Residential

  $264,746

  Hospitality

  $242,505

  Educational

  $201,762

  Medical

  $208,701

  Retail

  $313,852

Location Insight

City

Sanford

County

York

State

Maine

Latitude

43.4404

Longitude

-70.7778

CBSA code

38860

CBSA name

PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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