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    3400&3402 Aroostook Rd Eagle Lake, ME 04739

    Sponsored
    For Sale
    $700,000

    COMMERCIAL - Eagle Lake, ME

    Property size:
    54,222 SF
    Lot size:
    5.80 Acres
    Days on Market:
    20
    Last Refresh:
    Jan 21 at 12:06 am

    Property Features for 3400&3402 Aroostook Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    commercial
    Size
    54,222 SF
    Lot size
    5.80 Acres

    We can help!

    Listing Contact
    Leigh Smith

    RE/MAX County (207) 769-2900 [email protected]

    Listing agent Leigh Smith (207) 769-2900

    Listing date Jan 2, 2026

    Copyright © 2026 Maine Real Estate Information System, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Spacious Eagle Lake Commercial Opportunity

    Located at 3400 and 3402 Aroostook Road in Eagle Lake, this property features two connected facilities totaling over 54,000 square feet. The Franciscan Home, built in 1920 and renovated in 2000, is a three-story Colonial-style structure with approximately 27,000 square feet of space. It includes multiple living and common areas, offices, and service rooms, supported by a concrete foundation with a full dry basement. It features a hot-water steam heating system, fire alarm, and sprinkler systems, with access to public water and sewer. The Mercy Home, constructed in 1973, is a single-story building with approximately 27,222 square feet. It includes large open areas suitable for offices or treatment rooms. The building rests on a concrete slab foundation and is also served by municipal utilities. An enclosed breezeway connects the two buildings, allowing them to function as one campus or as separate facilities. Outbuildings and paved areas provide additional storage, parking, and loading possibilities. Situated on 5.8 acres, the site offers easy access and visibility while maintaining a quiet setting surrounded by community and institutional properties. The zoning supports continued use as residential care, education, healthcare, or other professional services, with flexibility for future redevelopment.
    Location Intelligence

    Current Use by Public Records

    Senior housing facilities

    Map

    City
    Eagle Lake
    County
    Aroostook
    State
    Maine
    Longitude
    -68.5902
    Latitude
    47.0401

    FAQs

    What type of property is this?
    Senior housing facility - Two connected buildings totaling over 54,000 SF on 5.8 acres.
    Where is this senior housing facility located?
    The property is located at 3400&3402 Aroostook Rd Eagle Lake, ME.
    What is the asking price?
    The asking price for this property is $700,000.
    What are key features of this property?
    This property features: - Two connected buildings totaling over 54,000 sq ft offer substantial space and flexibility.; - Suitable for a wide range of commercial or institutional uses.; - Convenient location on Aroostook Road with easy access and visibility.
    (207) 227-4501
    Request Owner's contact information
    3400&3402 Aroostook Rd Eagle Lake, ME 04739
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    Eagle Lake, ME 04739
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3400&3402 Aroostook Rd Eagle Lake, ME 04739
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    We can help!
    Listing Contact
    Leigh Smith
    (207) 227-4501
    Learn more
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