Renovated Office Unit with
For Sale
$459,000
20 Shore Road, Ogunquit, ME 03907
Commercial Sale, Ogunquit, ME
Property Size1,796 SF
Lot Size0.14 Acres
Price / SF$255.57
Days on Market58
Property Features for 20 Shore Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
DBD
Rooms
Basement
Parking features
None
Basement
Finished, Walk-Out Access, Full
Lot features
Downtown, Business District, Near Shopping
Standard status
Active
Size
1,796 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1983
HOA Fee
$6,085 Annually
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard, Electric (Heating), Oil
Cooling system
Central Air
Water source
Public
Building Details
Year built
1961
Flooring type
Wood
Building materials
Wood Frame, Vinyl Siding
Listing Agency:
Anne Erwin Sotheby's International Realty
(207) 363-6640
Listed By:
Anne Erwin Real Estate
(207) 363-6640
Added: Jul 6
Changed: Aug 19
Last Checked: Sep 1 at 12:06PM
MLS# 1665024
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 lower-level commercial condominium offers 1796 square feet of finished space in a 1961 building renovated in 2022. The interior includes wood flooring, a fireplace, detailed millwork, classic finishes, central air, and electric and oil heating. Public water and public sewer serve the property, which is zoned DBD.
Positioned along Shore Road in Ogunquit, the unit has visibility from the roadway and two access points. The surrounding village setting includes shops and restaurants, with activity described as year-round. The space is suited to office, co-working, boutique retail, gallery, wellness, café, or similar commercial concepts identified for the property.
Positioned along Shore Road in Ogunquit, the unit has visibility from the roadway and two access points. The surrounding village setting includes shops and restaurants, with activity described as year-round. The space is suited to office, co-working, boutique retail, gallery, wellness, café, or similar commercial concepts identified for the property.
Key Highlights
- 1796 square feet of commercial condominium space
- Renovated in 2022 with wood flooring, fireplace, millwork, and classic finishes
- Lower‑level unit with dual access points and visibility from Shore Road
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
$29,418
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
6.41%
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%
$588,360
$588.4K
Cap Rate 7%
$420,257
$420.3K
Cap Rate 9%
$326,867
$326.9K
Market Conditions
NOI Build-Up for 1,796 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
$44.8K $24.96/SF
− Vacancy
−$5.6K −$3.12/SF
EGI
$39.2K $21.84/SF
− OpEx
−$9.8K −$5.46/SF
NOI
$29.4K $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%
$588,360
Cap Rate 7%
$420,257
Cap Rate 9%
$326,867
Alternative Uses
Best Use
Office B
$420.3K
$367.7K – $490.3K
NOI $29,418 @ 7.0% cap · market cap 6.41%
Second Best
Retail
$311.6K
$272.6K – $363.5K
NOI $21,810 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$569.3K
$498.2K – $664.2K
NOI $39,853 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
Explore this area
Business Placement
Demographics for 03907, ME
1,577
Population
2,106
Households
0.7
Avg Household Size
62
Median Age
68%
College-Educated
99%
High-School Grad
4.1 sq mi
ZIP Area
385
Density / Sq Mi
$104,250
Median Household Income
$72,778
Median Earnings
$1,736
Median Rent
$799,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Lower-level commercial condominium with dual access, central air, and wood flooring.
Where is this office units located?
The property is located at 20 Shore Road Ogunquit, ME.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: 1796 square feet of commercial condominium space; Renovated in 2022 with wood flooring, fireplace, millwork, and classic finishes; Lower‑level unit with dual access points and visibility from Shore Road
