10 Evergreen Drive, Oakland, ME 04963

Building Details

Building Size 2,016 SF More

Year Built 2005 More

Buildings 1 More

Stories 1 More

Listing Agency: Venture Real Estate & Asset Management v***@gmail.com

Listed By: Bruce Holmes · License ME DB100551 Show Phone

Source: Hayesrealestate

Added: Jun 25 Changed: Nov 10 Last Checked: Nov 10 at 1:34AM

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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 Venture Real Estate & Asset Management

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 2,016-square-foot professional office building was constructed in 2005 and previously served as medical offices. A full basement provides additional space for storage or expansion. The property is zoned Commercial.

Located at First Park in Oakland, the building is just off I-95 Exit 127 and convenient to Waterville and Central Maine. Ample parking is provided.

Key Highlights

• 2,016‑square‑foot professional office building, built in 2005
• Formerly used as medical offices
• Full basement offers storage space or room for expansion

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,498

Cap Rate

7.72%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$569,960 $570.0K

Cap Rate 7%

$407,114 $407.1K

Cap Rate 9%

$316,644 $316.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,016 SF

Gross rent

$43.5K $21.60/SF

− Vacancy

−$5.5K −$2.75/SF

EGI

$38.0K $18.85/SF

− OpEx

−$9.5K −$4.71/SF

NOI

$28.5K $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%

$569,960

Cap Rate 7%

$407,114

Cap Rate 9%

$316,644

Alternative Uses

Best Use

Office B

$407.1K

$356.2K – $475.0K (±1% cap)

NOI $28,498 @ 7.0% cap · market cap 7.72%

Second Best

Healthcare Medical

$389.7K

$341.0K – $454.7K (±1% cap)

NOI $27,280 @ 7.0% cap · market cap 7.39%

Theoretical Best

Office A

$573.0K

$501.4K – $668.5K (±1% cap)

NOI $40,108 @ 7.0% cap · market cap 10.87%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Real Estate Agency HVAC Service Electrical Service Storage Facility Bakery Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

242

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 04963, ME

7,358

Population

4,279

Households

1.7

Avg Household Size

45

Median Age

24%

College-Educated

95%

High-School Grad

51.1 sq mi

ZIP Area

144

Density / Sq Mi

$73,611

Median Household Income

$49,913

Median Earnings

$885

Median Rent

$228,200

Median Home Value

Market

Average Price Trend$/SF for Medical Office Space in Kennebec County, ME

$81.56 Jul

$102 Aug

$105 Sep

$101 Oct

Properties on Market for Medical Office Space in Kennebec County

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Similar Off Market Nearby

• Chiasson Tim — 20 Washington St, Waterville, ME 04901
• Rice Nicole I DVM — 20 Washington St, Waterville, ME 04901
• Mac Millan Heather D DVM — 20 Washington St, Waterville, ME 04901, United States
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Frequently Asked Questions

What type of property is this?

Medical Office Space - A full basement provides additional storage capacity within this professional office property.

Where is this medical office space located?

The property is located at 10 Evergreen Drive Oakland, ME.

What is the asking price?

The asking price for this property is $369,000.

What are key features of this property?

This property features: 2,016‑square‑foot professional office building, built in 2005; Formerly used as medical offices; Full basement offers storage space or room for expansion