Great Route 1 Location in Wells

Retail-Commercial for Sale
Catylist Listing ID: 30667121
Property Subtypes: Convenience Store, Restaurant, Street Retail
Building Size (RSF): 11,540 SF
Gross Land Area: 2.15 Acres
Sale Price: $895,000
Unit Price: $77.56 PSF
Ceiling: 10 ft.
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/13/2021

Overview / Comments

Great opportunity to buy a highly visible location on Route 1 in Wells. Property was formally a highly successful catering venue and most of the fixtures remained such as the vent hoods and walk in coolers. Would make a great retail convenience store or turn it back into a wedding and catering venue. Over 11,500 square feet of space!

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $8,946 (Annual)

Additional Details

Nearest MSA: Portland-South Portland
County: York
Taxing Authority: Town of Wells
Tax ID/APN: 0147/002
Zoning: GB
Retail Clientele: General, Business
Property Visibility: Excellent
Feet of Frontage: 430
Traffic/Vehicle Count: 10,560
Highway Access: Route 1 Frontage
Site Description: Single level facility that could be used for most uses. ADA access and formerly a catering venue.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 11,540 SF
Property Condition: Good
Year Built: 1965
Year Renovated: 2005
Roof Type: Gable
Construction/Siding: Wood Siding
Total Parking Spaces: 50
Parking Type: Surface
Parking Description: Site plan attached showing parking
Sprinklers: None
Heat Type: Oil, Other
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: Nicely finished. Former use had a large modern kitchen that is still mostly intact. Could easily be divided into two or more spaces.
Zoning Description: General Business
Lot Frontage: 430
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,404 8,246 18,017
Median Age: 53.76 51.04 49.8
Households: 625 3,691 7,944
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