Renovated Office
For Sale
$224,900
1 Brickyard Lane, York, ME 03909
Commercial Sale, York, ME
Property Size1,014 SF
Lot Size2.05 Acres
Price / SF$221.79
Days on Market53
Property Features for 1 Brickyard Lane
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
RT 1-3
Basement
Sump Pump, Crawl Space
Accessibility
Accessible Elevator Installed
Lot features
Near Turnpike/ Interstate, Near Shopping, Office Park
Standard status
Active
Size
1,014 SF
Lot size
2.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1538
HOA Fee
$325 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1987
Flooring type
Cork, Laminate
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
RE/MAX Realty One · RE/MAX International
(207) 363-2497
Listed By:
LuAnn Neff
(207) 450-4526
Added: Jul 20
Changed: Sep 9
Last Checked: Sep 10 at 5:06AM
MLS# 1655928
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,014-square-foot office condominium occupies the second floor of Bragdon Commons at 1 Brickyard Lane in York, Maine. The suite includes two private consultation or treatment rooms, a separate kitchenette, general office area, and a private restroom. Interior improvements were completed in 2017, with laminate and cork flooring, forced-air electric heat, and central air conditioning.
An accessible elevator serves the office, and on-site parking is available. The professional building is occupied 80% by medical offices, providing an established healthcare-oriented setting alongside broader professional office use. Public water and sewer serve the property, which was built in 1987 and carries RT 1-3 zoning. Immediate occupancy is available.
An accessible elevator serves the office, and on-site parking is available. The professional building is occupied 80% by medical offices, providing an established healthcare-oriented setting alongside broader professional office use. Public water and sewer serve the property, which was built in 1987 and carries RT 1-3 zoning. Immediate occupancy is available.
Key Highlights
- 1,014‑square‑foot second‑floor office condominium in Bragdon Commons
- Two private consultation or treatment rooms plus kitchenette and private restroom
- Interior renovation completed in 2017
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,609
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.39%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$332,180
$332.2K
Cap Rate 7%
$237,271
$237.3K
Cap Rate 9%
$184,544
$184.5K
Market Conditions
NOI Build-Up for 1,014 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$25.3K $24.96/SF
− Vacancy
−$3.2K −$3.12/SF
EGI
$22.1K $21.84/SF
− OpEx
−$5.5K −$5.46/SF
NOI
$16.6K $16.38/SF
Area
York County, ME
Vacancy
12.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$332,180
Cap Rate 7%
$237,271
Cap Rate 9%
$184,544
Alternative Uses
Best Use
Office B
$237.3K
$207.6K – $276.8K
NOI $16,609 @ 7.0% cap · market cap 7.39%
Second Best
Healthcare Medical
$196.2K
$171.7K – $228.9K
NOI $13,736 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$321.4K
$281.3K – $375.0K
NOI $22,500 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Explore this area
Business Placement
Demographics for 03909, ME
10,938
Population
7,101
Households
1.5
Avg Household Size
53
Median Age
50%
College-Educated
98%
High-School Grad
35.2 sq mi
ZIP Area
311
Density / Sq Mi
$108,889
Median Household Income
$55,540
Median Earnings
$1,438
Median Rent
$589,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office units - Bright second-floor office suite with elevator access, private treatment rooms, kitchenette, and dedicated restroom.
Where is this office units located?
The property is located at 1 Brickyard Lane York, ME.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: 1,014‑square‑foot second‑floor office condominium in Bragdon Commons; Two private consultation or treatment rooms plus kitchenette and private restroom; Interior renovation completed in 2017
