Property profile

641 Elm St Biddeford, ME 04005

OFF-MARKET
Turn key restaurants
Property ID
US42-0189175
2,188 SF 0.65 ac lot Built 1979
Individually Owned 3-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This circa 1979 single-story commercial building is configured with a large dining area, a commercial kitchen area, two restrooms, an enclosed porch, and an outdoor patio, along with an unfinished basement. The site covers 0.65 acres and features approximately 165 feet of frontage on US Route 1, with the property located about 1.5 miles from I-95. The building measures 165' x 200' x 162' x 169' and includes a gross building area of 3,428 square feet, with 2,188 square feet attributed to the original building. The foundation is concrete and unfinished. Exterior and building systems include vinyl windows, a gable/hip roof with asphalt-fiberglass composite covering, 10-foot ceilings, and a 220-amp electrical service with electric monitor wall-mounted HVAC units. The property is handicapped accessible and is served by public utilities including water, sewer, natural gas, electricity, telephone, and cable service. It has a large paved parking lot providing 30+ spaces. FEMA Flood Map 23031C0455G dated July 17, 2024 indicates the property is not located in a flood zone, and the property is zoned 1 General Commercial Industrial.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1979
Construction FRAME
Total area 2,188 SF
Lot 0.65 ac (28,314 SF)
Zoning code I1
APN BIDD M:15 L:6
UPID US42-0189175

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant
  • Restaurant

Location

641 Elm St Biddeford, ME 04005-4421
Biddeford metro Census 25100 PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$460k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$510k

Owner & transaction history

since 2022
Last sale
$400,000
6 recorded transactions
2023
Price N/A
2022
Price N/A
2022
$400,000
2012
Price N/A
2010
Price N/A
2005
Price N/A

Zoning & alternative use

I1 · Biddeford, ME
Zoning description

The I1 district allows for general commercial and industrial uses

General category INDUSTRIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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