Lakefront Bed & Breakfast
For Sale
$1,250,000
1024 Meadow Road, Casco, ME 04015
Commercial Sale, Casco, ME
Property Size5,540 SF
Lot Size2.12 Acres
Price / SF$225.63
Days on Market43
Property Features for 1024 Meadow Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Ltd Commercial Res
Parking features
Off Street
Basement
Full, Sump Pump, Unfinished, Crawl Space
Lot features
Historic District, Rural
Standard status
Active
Size
5,540 SF
Lot size
2.12 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6181
Utilities
Sewer type
Septic Tank, Private Sewer
Heating system
Wood, Radiant, Space Heater, Natural Gas, Propane (Heating), Baseboard, Oil, Heat Pump (Heating), Zoned, Hot Water(Heating)
Cooling system
Heat Pump
Water source
Private, Well
Water front features
Waterfront, Lake, Stream
Water front
1
Building Details
Year built
1836
Flooring type
Vinyl, Tile, Wood, Carpet
Building materials
Wood Frame, Clapboard, Fiber Cement, Vinyl Siding, Wood Siding
Roof type
Metal, Shingle
Listing Agency:
RE/MAX Shoreline · RE/MAX International
(207) 553-7500
Listed By:
Nicholas Guerrette
(207) 939-8519
Added: Jul 12
Changed: Aug 20
Last Checked: Aug 23 at 7:06PM
MLS# 1669947
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Set on 2.12 acres along Pleasant Lake, this bed and breakfast property combines a substantial main residence with separate guest accommodations and supporting structures. The primary home provides 6 bedrooms and 7 bathrooms, including first-floor living space, plus a dining room, sunroom, kitchen, living room with wood-burning fireplace, and multiple heating systems. Total living area is approximately 5,540 square feet.
The property includes approximately 420 feet of owned lake frontage and a 40-foot seasonal dock, with waterfront, lake, and stream features. A three-season one-bedroom guest cottage and a studio loft above the oversized two-car garage expand the accommodation options. The carriage house provides storage for boats, snowmobiles, tools, and recreational equipment. Additional property systems include private well water, septic service designed for 10 bedrooms, water treatment, heat pump cooling, and a whole-house generator hookup. The property was built in 1836 and is zoned Ltd Commercial Res.
The property includes approximately 420 feet of owned lake frontage and a 40-foot seasonal dock, with waterfront, lake, and stream features. A three-season one-bedroom guest cottage and a studio loft above the oversized two-car garage expand the accommodation options. The carriage house provides storage for boats, snowmobiles, tools, and recreational equipment. Additional property systems include private well water, septic service designed for 10 bedrooms, water treatment, heat pump cooling, and a whole-house generator hookup. The property was built in 1836 and is zoned Ltd Commercial Res.
Key Highlights
- Approximately 5,540 square feet of collective living space on 2.12 acres
- Approximately 420 feet of owned Pleasant Lake frontage
- 40‑foot seasonal dock with waterfront, lake, and stream features
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
Lease Details
Yes
Water rights
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 - Multi-structure lodging property with private lake access, guest accommodations, and a carriage house for storage or additional 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: Approximately 5,540 square feet of collective living space on 2.12 acres; Approximately 420 feet of owned Pleasant Lake frontage; 40‑foot seasonal dock with waterfront, lake, and stream features
