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    261 Shore Rd Ogunquit, ME 03907
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    Property profile & analytics

    261 Shore Rd Ogunquit, ME 03907

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    • Investment properties
    • 4,635 SF
    • 0.34 lot acres
    For Sale
    $3,250,000
    View Listing →
    Ogunquit Restaurant & Residence For Sale
    $3,250,000
    5,579 SF

    Ogunquit Restaurant & Residence

    Prime Ogunquit location, high-end restaurant, 2-bedroom unit.

    261 Shore Rd, Ogunquit, ME 03907
    View Listing
    Property ID
    US42-0218247
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Northern Union / Restaurant
    • Marathon Real Estate / Real Estate Agency
    • Ogunquit Rental Properties / Real Estate Agency

    Property Details for 261 Shore Rd

    Year built
    1925
    Construction
    FRAME
    Lot size
    0.34 lot acres
    Property size
    4,635 SF
    Zone code
    LBD
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    OGUN M:005 L:015
    APU
    OGUNM005L015

    Description

    This exceptional mixed-use property in Ogunquit, Maine, presents a lucrative investment opportunity. Located on Shore Road, this 5,579 square foot establishment boasts a high-end restaurant with a charming outdoor dining area and firepit, attracting significant foot traffic. The recently re-architected and expanded state-of-the-art kitchen is equipped with top-of-the-line appliances, ensuring efficient workflow. The interior features a full bar with bar seating and additional seating, complemented by a floor-to-ceiling wine rack. The spacious dining area is flooded with natural light, creating a welcoming atmosphere. On-site parking enhances customer convenience. Upstairs, a brand new two-bedroom residential unit offers flexibility for owner occupancy, staff housing, or rental income generation. Situated on a 0.34-acre lot, this property benefits from Ogunquit's thriving tourism and food scene, promising substantial growth potential. The property is priced at $3,250,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $960,000
      6.5%
      $885,000
      7%
      $820,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $816,000
      Market price range: $584k - $2.07M
      AI Estimate
      $531,000
      Market price range: $420k - $1.40M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ogunquit
    County
    York
    State
    Maine
    Longitude
    -70.5961
    Latitude
    43.2408
    CBSA code
    38860
    CBSA name
    PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $8,570
    $773,900
    $552,800
    $1,326,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $620,000
      2,556 SF

      115 Perkins Cv Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,556 SF
      115 Perkins Cv Rd, Ogunquit, ME 03907
      View Details
    • Value Estimation by Request
      2,310 SF

      12 Perkins Cv Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,310 SF
      12 Perkins Cv Rd, Ogunquit, ME 03907
      View Details
    • Value Estimation by Request
      2,591 SF

      239 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,591 SF
      239 Main St, Ogunquit, ME 03907
      View Details
    • Value Estimation by Request
      960 SF

      33 Shr Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 960 SF
      33 Shr Rd, Ogunquit, ME 03907-3707
      View Details
    • Value Estimation
      $595,000
      2,351 SF

      103 Perkins Cv Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,351 SF
      103 Perkins Cv Rd, Ogunquit, ME 03907
      View Details
    • Value Estimation
      $775,000
      4,102 SF

      8 Shr Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 4,102 SF
      8 Shr Rd, Ogunquit, ME 03907
      View Details

    Similar Nearby for Sale

    • $1,200,000
      1,396 SF

      Ogunquit Commercial/Residential Condo For Sale

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    • Contact for pricing
      12,608 SF

      Ogunquit Mixed-Use Redevelopment Opportunity

      Two buildings on 1.25 acres in the heart of Ogunquit.
      309 Shore Rd, Ogunquit, ME 03907
      View Details
    • $3,250,000
      5,579 SF

      Ogunquit Restaurant & Residence

      Prime Ogunquit location, high-end restaurant, 2-bedroom unit.
      261 Shore Rd, Ogunquit, ME 03907
      View Details
    • $1,699,000
      2,487 SF

      Prime Retail Space in Ogunquit

      2,487 SF retail space with parking in desirable location.
      307 Main St, Ogunquit, ME 03907
      View Details
    • $1,100,000
      0.23 Acres

      Land in Perkins Cove Area

      Cleared .23 acre lot near Marginal Way and Perkins Cove.
      Cooley Ln, Ogunquit, ME 03907
      View Details
    • $1,595,000
      0.34 Acres

      Ogunquit Waterfront Land Opportunity

      Rare .34-acre waterfront parcel in coveted Perkins Cove.
      413 Shore Rd, Ogunquit, ME 03907
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,489 SF

      Restaurant Space in Perkins Cove

      Restaurant space with existing infrastructure and ample parking available for rent.
      309 Shore Rd, Ogunquit, ME 03907
      View Details
    • Contact for pricing

      Restaurant Space in Perkins Cove

      Restaurant space with existing infrastructure and ample parking.
      309 Shore Rd, Ogunquit, ME 03907
      View Details
    View Listing
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    261 Shore Rd
    Ogunquit, ME 03907
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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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    261 Shore Rd, Ogunquit, ME, 03907
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