Building Details

Year built 1945

Floors in Building 2

Number of units 1

Flooring type Concrete, Wood, Laminate

Building materials Wood Frame, Vinyl Siding, Wood Siding

Roof type Metal, Shingle

Architectural style Colonial

Listing Agency: EXP Realty m***@exprealty.net Show Phone

Listed By: Brett Davis Show Phone

Added: Jul 16 Changed: Sep 18 Last Checked: Sep 26 at 11:06AM

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MLS# 1650782

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.

Built in 1945, this Colonial-style mixed-use property contains 3,168 square feet on a 0.75-acre corner parcel. The second floor includes a two-bedroom, one-bath apartment, while the ground level offers a half bath, office space, and more than 1,000 square feet of usable area. The building is currently configured for workshop and garage use, with wood-frame construction, vinyl and wood siding, and a combination metal and shingle roof.

Village Center zoning supports the property’s mixed residential and commercial character. Public water serves the building, while wastewater is handled through a private sewer and septic tank. Heated parking is included. The property is located at 4 Parsonage Road in North Yarmouth, and any proposed uses or additional rental units should be reviewed with the town for permitting requirements.

Key Highlights

• 3,168‑square‑foot mixed‑use building on 0.75 acres
• Second‑floor two‑bedroom, one‑bath apartment
• More than 1,000 square feet of usable ground‑level area

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

$39,347

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

8.74%

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%

$786,940 $786.9K

Cap Rate 7%

$562,100 $562.1K

Cap Rate 9%

$437,189 $437.2K

Market Conditions

NOI Build-Up for 3,168 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

$68.4K $21.60/SF

− Vacancy

−$5.5K −$1.73/SF

EGI

$63.0K $19.87/SF

− OpEx

−$23.6K −$7.45/SF

NOI

$39.3K $12.42/SF

Area

Cumberland County, ME

Vacancy

8.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

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%

$786,940

Cap Rate 7%

$562,100

Cap Rate 9%

$437,189

Alternative Uses

Best Use

Mixed Use

$562.1K

$491.8K – $655.8K (±1% cap)

NOI $39,347 @ 7.0% cap · market cap 8.74%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$870.7K

$761.9K – $1.02M (±1% cap)

NOI $60,951 @ 7.0% cap · market cap 13.54%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Ronny's Auto Body ... Auto Repair Shop

Suggested Use

Top Pick Real Estate Agency Dental Office Auto Parts Store Auto Repair Shop Bakery Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

66

Businesses Nearby

Explore this area Business Placement

Demographics for 04097, ME

4,072

Population

1,596

Households

2.6

Avg Household Size

43

Median Age

53%

College-Educated

98%

High-School Grad

21.2 sq mi

ZIP Area

192

Density / Sq Mi

$119,813

Median Household Income

$56,215

Median Earnings

$1,615

Median Rent

$480,000

Median Home Value

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Colonial building combining residential and commercial areas with Village Center zoning and heated parking.

Where is this mixed-use property located?

The property is located at 4 Parsonage Road North Yarmouth, ME.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: 3,168‑square‑foot mixed‑use building on 0.75 acres; Second‑floor two‑bedroom, one‑bath apartment; More than 1,000 square feet of usable ground‑level area