Two-Story Office
1 Higgins Street, Augusta, ME 04330
For Sale
$295,000
BP-zoned property offers accessible circulation and a layout suited to one business or separate occupants.
Property Size1,680 SF
Price / SF$175.60
Days on Market552
Property Features for 1 Higgins Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Portside Real Estate Group
(207) 495-3700
Listed By:
Holly Lawrence
(207) 660-1707
Source:
Integrityhomesrealestategroup
Added: May 9, 2025
Changed: Nov 11
Last Checked: Nov 11 at 2:18AM
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 Portside Real Estate Group
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Investment Insights
Based on property information with market context.
This 1,680-square-foot office building, constructed in 1880, has two levels and two separate entrances. The ground floor was renovated to the studs and contains reception space, a conference room, private work areas, and a bathroom. Three additional rooms and a full bathroom occupy the upper floor. Hardwood and tile flooring are among the interior finishes, and a state-licensed vertical wheelchair lift serves the building. The property is ADA compliant and zoned BP.
The building is in Augusta, Maine, steps from the State Capitol and minutes from Augusta and neighboring Hallowell. Its two entrances and room configuration accommodate either a single business or dual occupancy.
The building is in Augusta, Maine, steps from the State Capitol and minutes from Augusta and neighboring Hallowell. Its two entrances and room configuration accommodate either a single business or dual occupancy.
Key Highlights
- 1,680‑square‑foot office building built in 1880
- Ground floor renovated to the studs; includes reception, conference room, private work areas, and a bathroom
- Three rooms and a full bathroom on the second level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,749
Cap Rate
8.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$474,980
$475.0K
Cap Rate 7%
$339,271
$339.3K
Cap Rate 9%
$263,878
$263.9K
Market Conditions
NOI Build-Up for 1,680 SF
Gross rent
$36.3K $21.60/SF
− Vacancy
−$4.6K −$2.75/SF
EGI
$31.7K $18.85/SF
− OpEx
−$7.9K −$4.71/SF
NOI
$23.7K $14.14/SF
Area
Kennebec County, ME
Vacancy
12.74%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$474,980
Cap Rate 7%
$339,271
Cap Rate 9%
$263,878
Alternative Uses
Best Use
Office B
$339.3K
$296.9K – $395.8K
NOI $23,749 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$477.5K
$417.8K – $557.1K
NOI $33,424 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,218
Businesses Nearby
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Business Placement
Demographics for 04330, ME
26,322
Population
13,017
Households
2
Avg Household Size
44
Median Age
28%
College-Educated
95%
High-School Grad
116.9 sq mi
ZIP Area
225
Density / Sq Mi
$55,158
Median Household Income
$43,177
Median Earnings
$912
Median Rent
$197,600
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Kennebec County, ME
Properties on Market for Office buildings in Kennebec County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - BP-zoned property offers accessible circulation and a layout suited to one business or separate occupants.
Where is this office building located?
The property is located at 1 Higgins Street Augusta, ME.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 1,680‑square‑foot office building built in 1880; Ground floor renovated to the studs; includes reception, conference room, private work areas, and a bathroom; Three rooms and a full bathroom on the second level
