Renovated Medical Office Condominium

1 Brickyard Lane, York, ME 03909

For Sale

New

$219,900

Commercial Sale, York, ME

Property Size1,014 SF

Lot Size2.05 Acres

Price / SF$216.86

Days on Market2

Property Features for 1 Brickyard Lane

General Information

Property type Commercial Sale

Property subtype Office

Zoning RT 1-3

Basement Sump Pump, Crawl Space

Accessibility Accessible Elevator Installed

Lot features Near Turnpike/ Interstate, Near Shopping, Office Park

Standard status Active

Size 1,014 SF

Lot size 2.05 Acres

Additional Details

Property Use Office

Taxes and HOA fees

Tax Year 2025

Tax Annual Amount 1538

HOA Fee $325 Monthly

Utilities

Sewer type Public Sewer

Heating system Forced Air, Electric (Heating)

Cooling system Central Air

Water source Public

Amenities

private rooms

kitchenette

ensuite restroom

Building Details

Year built 1987

Flooring type Laminate, Cork

Building materials Wood Frame, Vinyl Siding

Roof type Shingle

Listing Agency: RE/MAX Realty One · RE/MAX International

Listed By: LuAnn Neff

Added: Nov 12 Last Checked: Nov 13 at 11:06PM

MLS# 1687538

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Investment Insights

Based on property information with market context.

This 1,014-square-foot medical office condominium includes two private rooms, a separate kitchenette and office area, and an en suite restroom. The suite was renovated in 2017 and has laminate and cork flooring, central air, and electric forced-air heat. An accessible elevator serves the property, and on-site parking is available at no charge.

The property is in York, Maine, and is zoned RT 1-3. Public water and public sewer serve the building.

Key Highlights

1,014 square feet with two private rooms
Separate kitchenette and office area, plus an en suite restroom
Renovated in 2017

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,609

Cap Rate

7.55%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $16,609 @ 7.0% cap · market cap 7.55%

Second Best

Healthcare Medical

$196.2K

$171.7K – $228.9K (±1% cap)

NOI $13,736 @ 7.0% cap · market cap 6.25%

Theoretical Best

Office A

$321.4K

$281.3K – $375.0K (±1% cap)

NOI $22,500 @ 7.0% cap · market cap 10.23%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Bragdon Commons Business Service Center Dr. Joel W. ... Physician Health Matters Physical ... Physician Independent Health Advantage, ... Medical Clinic Pamela N. Montembeau, ... Physician