Renovated Office
For Sale
$224,900
1 Brickyard Lane Dd, York, ME 03909
Second-floor suite with elevator access, private restroom, kitchenette, and on-site parking.
Property Size1,014 SF
Price / SF$221.79
Days on Market9
Property Features for 1 Brickyard Lane Dd
General Information
Standard status
Active
Size
1,014 SF
Elevators
Yes
Additional Details
Floor
2
Building Details
Year Built
1987
Year Renovated
2017
Tenancy
Multi
Listing Agency:
RE/MAX Realty One
(207) 363-2497
Listed By:
LuAnn Neff
Source:
Archerteamrealty
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 25 at 4:00AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Realty One
Investment Insights
Based on property information with market context.
This 1,014-square-foot office condominium occupies the second floor of a professional office building and is configured for practical day-to-day use. The suite includes two private consultation or treatment rooms, dedicated office space, a separate kitchenette, and a private restroom. Elevator access supports convenient entry, while on-site parking serves occupants and visitors.
Renovation work was completed in 2017, including improvements from the ceiling through the flooring. The building is currently occupied by 80% medical offices, providing an established professional setting for healthcare, wellness, or other office operations. The property is available for immediate occupancy and includes access to condominium documents upon request.
Renovation work was completed in 2017, including improvements from the ceiling through the flooring. The building is currently occupied by 80% medical offices, providing an established professional setting for healthcare, wellness, or other office operations. The property is available for immediate occupancy and includes access to condominium documents upon request.
Key Highlights
- 1,014‑square‑foot second‑floor office condominium
- Two private consultation or treatment rooms
- Separate kitchenette, office area, and private restroom
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
Property Profile
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Second-floor suite with elevator access, private restroom, kitchenette, and on-site parking.
Where is this office units located?
The property is located at 1 Brickyard Lane Dd 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; Two private consultation or treatment rooms; Separate kitchenette, office area, and private restroom
