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

    294 Main St Saco, ME 04072-1762

    • Showrooms
    • 3,432 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Apr 22, 2024
    $600,000
    Value Estimations
    $615,000
    Show details
    Cap Rate Potential
    7.1%
    Showrooms
    Location Intelligence
    Property ID
    US42-0210876
    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.

    Current Use by Public Records

    • Alchemy / Thrift Store / Clothing Store
    • Sweets and Co. / Bakery

    Property Details for 294 Main St

    Year built
    1923
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.06 lot acres
    Property size
    3,432 SF
    Zone code
    B-3
    Property type
    Showrooms
    APN
    SACO M:038 L:103 U:000-000
    APU
    SACOM038L103U000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $600,000
      ML approach
      $600,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $710,000
      6.5%
      $655,000
      7%
      $610,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $950,000
      Current use
      RETAIL STORES
      $955,000
      Change: +0% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Saco
    County
    York
    State
    Maine
    Longitude
    -70.4452
    Latitude
    43.4989
    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
    2022
    $6,736
    $96,200
    $271,300
    $367,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $495,000
      5,247 SF

      506 Main St

      SHOW ROOM, WAREHOUSE • 5,247 SF
      506 Main St, Saco, ME 04072-1530
      View Details
    • Value Estimation
      $730,000
      15,043 SF

      941 Portland Rd

      SHOW ROOM, WAREHOUSE • 15,043 SF
      941 Portland Rd, Saco, ME 04072-9675
      View Details
    • Value Estimation
      $790,000
      5,184 SF

      238 Nn St

      SHOW ROOM, WAREHOUSE • 5,184 SF
      238 Nn St, Saco, ME 04072-1870
      View Details
    • Value Estimation
      $1,100,000
      6,552 SF

      190 Main St

      SHOW ROOM, WAREHOUSE • 6,552 SF
      190 Main St, Saco, ME 04072-1507
      View Details
    • Value Estimation
      $550,000
      7,288 SF

      270 Main St

      SHOW ROOM, WAREHOUSE • 7,288 SF
      270 Main St, Saco, ME 04072-1513
      View Details
    • Value Estimation
      $465,000
      5,600 SF

      838 Portland Rd

      SHOW ROOM, WAREHOUSE • 5,600 SF
      838 Portland Rd, Saco, ME 04072-9672
      View Details

    Similar Nearby for Sale

    • $2,300,000
      10,550 SF

      Main Street Saco Investment

      10,550 SF building, 2.28 acres
      644 Sf Bldg & Land, Saco, ME 04072
      View Details
    • Contact for pricing
      32,328 SF

      Saco Retail Property on Route 1

      Retail property with high visibility and traffic count on Route 1.
      812 Portland Rd, Saco, ME 04072
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    • $550,000

      Retail Property Near Maine Turnpike

      Retail property located near Maine Turnpike Exit 36.
      19 Industrial Park Rd, Saco, ME 04072
      View Details
    • $1,600,000

      New Saco Retail Opportunity

      New retail property with drive-through and ample parking.
      3 Waterfall Dr, Saco, ME 04072
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    • $2,350,000

      Prime Retail Investment Opportunity

      High-visibility retail property with long-term tenants and income potential.
      937 Portland Rd, Saco, ME 04072
      View Details
    • $2,900,000
      14,000 SF

      Saco, ME Restaurant Redevelopment

      Prime 14,000 SF restaurant, redevelopment opportunity.
      345 North St, Saco, ME 04072
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      1,508 SF

      Retail/Athletic Space in Saco

      1,508± SF retail/athletic space in a sports medicine complex.
      15 Lund Rd, Saco, ME 04072
      View Details
    • Contact for pricing
      1,400 SF

      Main Street Retail Space For Lease

      Prime Saco location, 1400 sq ft retail space.
      507 Main St, Saco, ME 04072
      View Details
    • Contact for pricing
      1 SF

      Prime Saco Retail Land Opportunity

      High-traffic Main Street location, build-to-suit available.
      650 Main St, Saco, ME 04072
      View Details
    • $35 SF/Yr
      1,400 SF

      Saco, ME Creative Office Space

      1,400 SF Retail/Office, Prime Location
      70 Elm St, Saco, ME 04072
      View Details
    • $6,900,000
      42,704 SF

      Freezer & Refrigerated Distribution Facility

      42,704± SF freezer/refrigerated distribution facility on 4.23± acres.
      12 Lund Rd, Saco, ME 04072
      View Details
    • Contact for pricing
      63,000 SF

      Industrial Build-to-Suit Opportunity, Saco

      63,000± SF build-to-suit industrial building on US Route 1.
      1016 Portland Rd, Saco, ME 04072
      View Details

    Property Visit Statistics

    • Visits by month
      2.0k
    • Visitors by month
      1.2k
    • Avg Time on site
      10 min
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    Saco, ME 04072-1762
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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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