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Property profile & analytics
FOR SALE
Turn key restaurants
16 School St, Sanford, ME 04073
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US42-0358005
For Sale
1 / 37
$600,000
16 School St, Sanford, ME 04073
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,332 SF
Lot
0.1 ac (4,264 SF)
Zoning code
DB
APN
SANF M:0K30 B:43
UPID
US42-0358005
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Guerrero Maya Restaurant
-
Back Street Sanford Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$650k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$650k
Blend (final)
Blend
$650k
Owner & transaction history
16 School Street LLC · 2 yrs held
16 School Street LLC
since 2024
Last sale
$650,000
5 recorded transactions
Zoning & alternative use
DB · Sanford, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Sanford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sanford submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$650,000
ML approach
$650,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$905,000
Current use
OFFICE BUILDING
$840,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$650k
Range $585k – $715k · ±10% · vs last sale $650k (Jan 25 2024)
Last sale anchor
$650k
Jan 25 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$150 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$4,058
Tax year 2023
Assessed value
$268,000
Assessed 2023
Previous assessed
$268,000
+0.0% YoY
Effective rate
1.51%
On assessed value
Assessed land
$63,200
Assessed improvement
$204,800
Applied tax rate
65,760.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
2
Bathrooms
2
Total area
4,332 SF
Lot
0.1 ac (4,264 SF)
Zoning code
DB
APN
SANF M:0K30 B:43
UPID
US42-0358005
Jurisdiction
SANFORD
Zoning & alternative use
DB · Sanford, ME
Zoning DB · permitted uses
DB · Sanford, ME
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sanford. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$905,000
OFFICE BUILDING
Est. value
$840,000
RESTAURANT Current
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
Yes
Stories
2
Buildings
1
Bathrooms
2
Lot
0.1 ac
Current owner
From public records · entity-resolved
16 School Street LLC
Entity
Mailing address
16 SCHOOL ST, SANFORD, ME 04073-3018
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 7, 2024
—
16 School Street LLC
—
Deed
related
$306,000 · Southern Me Fin Agenc
Jan 25, 2024
$650,000
16 School Street LLC
Back Street Sanford LLC
Quit Claim Arm's Length For Ne States
$370,425 · Bangor Savings Bank
May 15, 2018
—
Paquette Holdings LLC
—
Deed
related
$400,000 · Newburyport Five Cent
Aug 23, 2016
—
Paquette Holdings LLC
—
Deed
related
$400,000 · Newburyport Five Cent
Dec 28, 2005
—
Paquette Holdings LLC
Payeur,suzanne
Warranty Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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