Lakefront Bed & Breakfast
For Sale
$1,250,000
1024 Meadow Road, Casco, ME 04015
Lakefront property with guest accommodations, recreational access, and features suited to year-round use.
Property Size5,540 SF
Price / SF$225.63
Days on Market66
Property Features for 1024 Meadow Road
General Information
Standard status
Active
Size
5,540 SF
Property subtype
Commercial
Building Details
Year Built
1836
Listing Agency:
RE/MAX Shoreline
Listed By:
Nicholas Guerrette
(603) 433-3350
Source:
Greatislandrealty
Added: Jun 26
Changed: Aug 29
Last Checked: Aug 26 at 8:58AM
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 Shoreline
Investment Insights
Based on property information with market context.
This Casco, Maine property combines a primary residence with additional guest accommodations and extensive lakefront improvements. The main home provides approximately 5,540 square feet of collective living space, including 6 bedrooms, 7 bathrooms, first-floor living accommodations, a chef’s kitchen, oversized dining room, sunroom, living room, and wood-burning fireplace. A three-season, one-bedroom guest cottage and a private studio loft above the oversized two-car garage expand the available lodging. The carriage house provides storage for boats, snowmobiles, tools, and other recreational equipment, with additional workshop or entertainment potential.
The estate encompasses more than 2 private acres and approximately 420 feet of owned frontage on Pleasant Lake. A 40-foot seasonal dock supports lake access for boating, fishing, swimming, and related summer activities. Nearby hiking trails, snowmobiling, skiing, ice fishing, and hunting provide additional recreational context. Multiple heating sources, water treatment systems, a whole-house generator hookup, and a 10-bedroom septic system support extended stays and guest-oriented use.
The estate encompasses more than 2 private acres and approximately 420 feet of owned frontage on Pleasant Lake. A 40-foot seasonal dock supports lake access for boating, fishing, swimming, and related summer activities. Nearby hiking trails, snowmobiling, skiing, ice fishing, and hunting provide additional recreational context. Multiple heating sources, water treatment systems, a whole-house generator hookup, and a 10-bedroom septic system support extended stays and guest-oriented use.
Key Highlights
- More than 2 private acres with approximately 420 feet of owned Pleasant Lake frontage
- 40‑foot seasonal dock with access for boating, fishing, swimming, and sunbathing
- Approximately 5,540 square feet of collective living space
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
$40,262
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
3.22%
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%
$805,240
$805.2K
Cap Rate 7%
$575,171
$575.2K
Cap Rate 9%
$447,356
$447.4K
Market Conditions
NOI Build-Up for 5,540 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
$99.7K $18.00/SF
− Vacancy
−$15.0K −$2.70/SF
EGI
$84.8K $15.30/SF
− OpEx
−$44.5K −$8.03/SF
NOI
$40.3K $7.27/SF
Area
Cumberland County, ME
Vacancy
15.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
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%
$805,240
Cap Rate 7%
$575,171
Cap Rate 9%
$447,356
Alternative Uses
Best Use
Hotel Hospitality
$575.2K
$503.3K – $671.0K
NOI $40,262 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,587 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04015, ME
3,646
Population
2,982
Households
1.2
Avg Household Size
48
Median Age
32%
College-Educated
91%
High-School Grad
31.3 sq mi
ZIP Area
116
Density / Sq Mi
$64,229
Median Household Income
$43,870
Median Earnings
$1,214
Median Rent
$285,200
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Lakefront property with guest accommodations, recreational access, and features suited to year-round use.
Where is this bed & breakfast located?
The property is located at 1024 Meadow Road Casco, ME.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: More than 2 private acres with approximately 420 feet of owned Pleasant Lake frontage; 40‑foot seasonal dock with access for boating, fishing, swimming, and sunbathing; Approximately 5,540 square feet of collective living space
