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    31 Hannaford Dr Scarborough, ME 04074-9057
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    Property profile & analytics

    31 Hannaford Dr Scarborough, ME 04074-9057

    View on Map
    • Super regional malls
    • 71,193 SF
    • 18.19 lot acres
    Off-Market
    Property ID
    US42-0321983
    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
    $1,670,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • Snowfox Sushi / Restaurant / Take-out & Catering
    • Joseph Sullivan / Pharmacy
    • Stephanie Sparda / Pharmacy

    Property Details for 31 Hannaford Dr

    Year built
    1992
    Lot size
    18.19 lot acres
    Property size
    71,193 SF
    Zone code
    25
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    SCAR M:U044 L:008B
    APU
    SCARMU044L008B

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,290,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,052,000
      Market price range: $1.17M - $2.88M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,955,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Scarborough
    County
    Cumberland
    State
    Maine
    Longitude
    -70.3317
    Latitude
    43.595
    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
    $115,463
    $2,165,700
    $5,064,300
    $7,230,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,805,000
      73,255 SF

      490 Payne Rd

      REGIONAL SHOPPING CENTER, MALL • 73,255 SF
      490 Payne Rd, Scarborough, ME 04074-8929
      View Details
    • Value Estimation
      $685,000
      22,600 SF

      29 Gorham Rd

      REGIONAL SHOPPING CENTER, MALL • 22,600 SF
      29 Gorham Rd, Scarborough, ME 04074-9859
      View Details
    • Value Estimation
      $660,000
      19,719 SF

      273 Payne Rd

      REGIONAL SHOPPING CENTER, MALL • 19,719 SF
      273 Payne Rd, Scarborough, ME 04074-6593
      View Details
    • Value Estimation
      $1,070,000
      37,169 SF

      456 Payne Rd

      REGIONAL SHOPPING CENTER, MALL • 37,169 SF
      456 Payne Rd, Scarborough, ME 04074-8200
      View Details
    • Value Estimation
      $715,000
      20,240 SF

      183 Us Rte 1st 1

      REGIONAL SHOPPING CENTER, MALL • 20,240 SF
      183 Us Rte 1st 1, Scarborough, ME 04074-9601
      View Details
    • Value Estimation by Request
      10,621 SF

      201 Us Rte 1st 1

      REGIONAL SHOPPING CENTER, MALL • 10,621 SF
      201 Us Rte 1st 1, Scarborough, ME 04074-8127
      View Details

    Similar Nearby for Sale

    • $5,000,000
      26,464 SF

      Fully Leased Retail Plaza

      26,464 SF retail plaza on US Route One.
      442 Us Route 1, Scarborough, ME 04074
      View Details
    • $40,000,000
      33,812 SF

      Scarborough Gateway Shoppes Pad Sites

      Pad sites available for sale or ground lease near Cabela’s.
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    • Contact for pricing
      13,725 SF

      Scarborough Retail Shops For Sale

      100% leased retail property near Walmart in Scarborough, Maine.
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    • $1,776,300
      20,000 SF

      Scarborough Warehouse Building For Sale

      20,000+/- SF warehouse on 1.79+/- acres in Scarborough, Maine.
      4 Cloutier Ln, Scarborough, ME 04074
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    • $1,000,000
      0.41 Acres

      Scarborough Commercial Land with Views

      Oversized lot with river views near Pine Point Beach.
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    • $1,100,000
      10,200 SF

      Shovel-Ready Commercial Site For Sale

      Approved commercial land in high-traffic retail corridor.
      6 Cummings Rd, Scarborough, ME 04074
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,039 SF

      Retail Space in Mixed-Use Building

      Retail space for lease in The Downs Town Center.
      276 Scarborough Downs Rd, Scarborough, ME 04074
      View Details
    • Contact for pricing
      1,928 SF

      New Retail/Office Development Space

      Retail/office space in new development with high traffic visibility.
      424 Payne Rd, Scarborough, ME 04074
      View Details
    • Contact for pricing

      Scarborough Retail/Office Space Available

      11,616± SF space for lease in Scarborough, Maine.
      600 Roundwood Dr, Scarborough, ME 04074
      View Details
    • $18 SF/Yr
      5,130 SF

      Scarborough Retail Space Available

      Retail spaces available near Maine Turnpike Exit 42.
      400 Expedition Dr, Scarborough, ME 04074
      View Details
    • Contact for pricing

      New Construction Retail Space

      New construction retail space in a convenient location.
      91 County Rd, Scarborough, ME 04074
      View Details
    • Contact for pricing
      9,000 SF

      Scarborough Retail/Warehouse Space Available

      9,000+/- SF building with warehouse and loading dock for lease.
      400 Roundwood Dr, Scarborough, ME 04074
      View Details

    Property Visit Statistics

    • Visits by month
      95.9k
    • Visitors by month
      36.6k
    • Avg Time on site
      24 min
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    Scarborough, ME 04074-9057
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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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