Live-Work Retail and
For Sale
$325,000
664 Maine Avenue, Farmingdale, ME 04344
Commercial Sale, Farmingdale, ME
Property Size1,472 SF
Lot Size0.32 Acres
Price / SF$220.79
Days on Market33
Property Features for 664 Maine Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Basement
Unfinished, Full
Lot features
Near Shopping, Suburban
Standard status
Active
Size
1,472 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
25
Tax Annual Amount
2711
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Oil, Propane (Heating), Kerosene
Water source
Public
Building Details
Year built
1950
Flooring type
Vinyl, Carpet
Building materials
Vinyl Siding, Other Exterior
Roof type
Shingle
Listing Agency:
Sprague & Curtis Real Estate
(207) 623-1123
Listed By:
Tyler Gaudet
(207) 623-1123
Added: Jul 23
Changed: Aug 24
Last Checked: Aug 24 at 7:06PM
MLS# 1665004
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.
The property at 664 Maine Avenue pairs a one-bedroom home with an established commercial space currently operating as a salon. The residential portion offers a separate living layout, while the commercial space is set up for customer-facing use.
The building sits on a high-visibility road, providing exposure for the salon, and the site includes a spacious parking lot with room for customers, tenants, and guests.
With both residential and active commercial components on one parcel, the property is designed to support flexible live-and-work use or multiple income streams through the home and the salon space.
The building sits on a high-visibility road, providing exposure for the salon, and the site includes a spacious parking lot with room for customers, tenants, and guests.
With both residential and active commercial components on one parcel, the property is designed to support flexible live-and-work use or multiple income streams through the home and the salon space.
Key Highlights
- 1950‑built property with a 1‑bedroom home plus an established commercial space operating as a salon
- Salon commercial space offers customer access and strong visibility on a high‑visibility road
- Spacious parking lot for customers, tenants, and guests
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
$15,186
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
4.67%
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%
$303,720
$303.7K
Cap Rate 7%
$216,943
$216.9K
Cap Rate 9%
$168,733
$168.7K
Market Conditions
NOI Build-Up for 1,472 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
$26.5K $18.00/SF
− Vacancy
−$2.2K −$1.49/SF
EGI
$24.3K $16.51/SF
− OpEx
−$9.1K −$6.19/SF
NOI
$15.2K $10.32/SF
Area
Kennebec County, ME
Vacancy
8.30%
Lease Rate
$18.00 /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%
$303,720
Cap Rate 7%
$216,943
Cap Rate 9%
$168,733
Alternative Uses
Best Use
Mixed Use
$216.9K
$189.8K – $253.1K
NOI $15,186 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$204.9K
$179.3K – $239.0K
NOI $14,340 @ 7.0% cap · market cap 4.41%
Theoretical Best
Warehouse
$2.20M
$1.92M – $2.56M
NOI $153,726 @ 7.0% cap · market cap 47.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
137
Businesses Nearby
Explore this area
Business Placement
Demographics for 04344, ME
2,995
Population
1,481
Households
2
Avg Household Size
44
Median Age
40%
College-Educated
95%
High-School Grad
11.2 sq mi
ZIP Area
267
Density / Sq Mi
$60,000
Median Household Income
$34,688
Median Earnings
$928
Median Rent
$205,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Property combines a one-bedroom home with an operating salon and customer parking on a high-visibility road.
Where is this mixed-use property located?
The property is located at 664 Maine Avenue Farmingdale, ME.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1950‑built property with a 1‑bedroom home plus an established commercial space operating as a salon; Salon commercial space offers customer access and strong visibility on a high‑visibility road; Spacious parking lot for customers, tenants, and guests
