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    3 Grand Ave Scarborough, ME 04074
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    Property profile & analytics

    3 Grand Ave Scarborough, ME 04074

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    • Investment properties
    • 7,960 SF
    • 1.30 lot acres
    For Sale
    $1,895,000
    View Listing →
    Scarborough Mixed-Use Investment Opportunity For Sale
    $1,895,000
    7,960 SF

    Scarborough Mixed-Use Investment Opportunity

    Prime Scarborough location, 7,960 sq ft, 1.3 acres.

    3 Grand Ave, Scarborough, ME 04074
    View Listing
    Property ID
    US42-0362393
    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

    • Dog Days Gift Shop / (Bike/Boat/Book/etc) Store
    • The Garage BBQ / Restaurant
    • EBC Pizza / Take-out & Catering

    Property Details for 3 Grand Ave

    Year built
    1940
    Lot size
    1.30 lot acres
    Property size
    7,960 SF
    Zone code
    22
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    SCAR M:U022 L:123
    APU
    SCARMU022L123

    Description

    This exceptional mixed-use property, located at 3 E Grand Avenue in Scarborough, Maine, presents a compelling investment opportunity. The building encompasses a substantial 7,960 square feet of space situated on a generous 1.3-acre lot. Its mixed-use zoning allows for a variety of commercial and potentially residential applications, providing significant flexibility for the discerning investor. The property's prime location in Scarborough offers excellent visibility and accessibility, making it an ideal choice for businesses seeking a high-traffic area. The substantial size of the lot provides ample space for expansion, redevelopment, or additional parking, further enhancing its investment potential. The asking price of $1,895,000 reflects the property's significant size, desirable location, and versatile zoning. This is a rare opportunity to acquire a substantial mixed-use property in a thriving Maine community. Serious inquiries are encouraged to explore the possibilities this property offers. Detailed property information and financial documents are available upon request. Don't miss this chance to secure a valuable asset in a sought-after location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,175,000
      Market price range: $1.02M - $2.70M
      AI Estimate
      $602,000
      Market price range: $384k - $1.56M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,540,000
      RETAIL STORES
      $1,510,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Scarborough
    County
    Cumberland
    State
    Maine
    Longitude
    -70.3453
    Latitude
    43.5412
    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
    $14,218
    $462,600
    $427,700
    $890,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,305,000
      11,800 SF

      25 Plz Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 11,800 SF
      25 Plz Dr, Scarborough, ME 04074-6900
      View Details
    • Value Estimation by Request
      1,152 SF

      295 Broadturn Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,152 SF
      295 Broadturn Rd, Scarborough, ME 04074-9153
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    • Value Estimation by Request
      680 SF

      238 Gorham Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 680 SF
      238 Gorham Rd, Scarborough, ME 04074-9504
      View Details
    • Value Estimation by Request
      2,806 SF

      273 Pne Pt Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,806 SF
      273 Pne Pt Rd, Scarborough, ME 04074-9238
      View Details
    • Value Estimation by Request
      2,564 SF

      6 Pne Pt Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,564 SF
      6 Pne Pt Rd, Scarborough, ME 04074-9201
      View Details
    • Value Estimation by Request
      1,505 SF

      342 Us Rte 1st 1

      OFFICE/RESIDENTIAL (MIXED USE) • 1,505 SF
      342 Us Rte 1st 1, Scarborough, ME 04074-9774
      View Details

    Similar Nearby for Sale

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    • $1,990,000
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      Scarborough Mixed-Use Property

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      Versatile property with residential, commercial, and entertainment spaces.
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    • $1,895,000
      7,960 SF

      Scarborough Mixed-Use Investment Opportunity

      Prime Scarborough location, 7,960 sq ft, 1.3 acres.
      3 Grand Ave, Scarborough, ME 04074
      View Details
    • $495,000
      2,584 SF

      Scarborough Corner Lot Opportunity

      1.11-acre corner lot suitable for commercial or residential redevelopment.
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    • Contact for pricing

      Scarborough Commercial Land Investment Opportunity

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    Similar Nearby for Lease

    • Contact for pricing

      New Scarborough Town Center Development

      Mixed-use development with retail, office, residential, and hospitality spaces.
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      View Details
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      New Construction Retail Space

      New construction retail space in a convenient location.
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      35,176 SF

      Class A Office Building

      Suburban office building with remarkable amenities and on-site parking.
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      10,000 SF

      Retail Space on US Route 1

      Retail suites available for rent on US Route 1.
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      View Details
    • Contact for pricing
      9,000 SF

      Scarborough Retail/Warehouse Space Available

      9,000+/- SF building with warehouse and loading dock for lease.
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      View Details
    • $16 SF/Yr
      3,000 SF

      Scarborough Office or Medical Space

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      View Details
    View Listing
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    Scarborough, ME 04074
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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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