Second-Floor Medical Office
For Sale
$224,900
1 Brickyard Lane, York, ME 03909
Sun-filled 1,014 sq ft second-floor office suite with elevator access, two private rooms, and a kitchenette in a condo building.
Property Size1,014 SF
Price / SF$221.79
Days on Market134
Property Features for 1 Brickyard Lane
General Information
Standard status
Active
Size
1,014 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$1,538
Amenities
elevator access
on-site parking
kitchenette
Central Air
3
On Site, Paved Driveway.
2.05
Building Details
Year Built
1987
Year Renovated
2017
Tenancy
Multi
Listing Agency:
RE/MAX Realty One
(207) 450-4526
Listed By:
LuAnn Neff
(207) 450-4526
Source:
Xome
Added: Mar 29
Changed: Aug 7
Last Checked: Aug 9 at 4:59AM
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.
Bragdon Commons offers a quiet, well-established medical or professional office condominium. Suite Unit DD is a sun-filled, second-floor office space featuring elevator access and ample on-site parking. Inside, the layout includes a large open, light-filled area suitable for reception, a waiting room, or collaborative space, along with two private consultation or therapy rooms. The suite also includes a separate kitchenette and an additional office space.
The suite was fully renovated from ceiling to floor in 2017, and documents listing improvements are available. The condominium association is described as well governed with an engaged and experienced board, and the suite is available for immediate occupancy.
Condo docs are provided upon request, and the property is positioned within a building with an existing mix that is described as largely medical offices.
The suite was fully renovated from ceiling to floor in 2017, and documents listing improvements are available. The condominium association is described as well governed with an engaged and experienced board, and the suite is available for immediate occupancy.
Condo docs are provided upon request, and the property is positioned within a building with an existing mix that is described as largely medical offices.
Key Highlights
- Sun‑filled 1,014 SF second‑floor office suite in a medical/professional office condominium
- Elevator access plus paved on‑site parking
- Includes a large open sunlit main area for reception, waiting, or collaboration
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
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
306
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
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Frequently Asked Questions
What type of property is this?
Office units - Sun-filled 1,014 sq ft second-floor office suite with elevator access, two private rooms, and a kitchenette in a condo building.
Where is this office units located?
The property is located at 1 Brickyard Lane 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: Sun‑filled 1,014 SF second‑floor office suite in a medical/professional office condominium; Elevator access plus paved on‑site parking; Includes a large open sunlit main area for reception, waiting, or collaboration
