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It took about a year for the owner of AutoMile Motors to find property to buy on U.S. Route 1 in Saco.
Justin “Jay” Gould and a partner were looking to have the security of ownership, rather than a lease, and also wanted to expand the auto dealership. The “AutoMile” brand meant the search was limited to just that a mile-long stretch on Route 1 known for its automotive dealerships and services.
“AutoMile Motors has to exist on the auto-mile,” says Gould.
Initially the partners looked at properties in the $300,000 range, an affordable price based on what they assumed would require a 20% to 25% down payment for a bank loan, with future upgrades paid for out-of-pocket when possible. ....

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