Standalone Office
For Sale
$449,900
1087 Main Street, Sanford, ME 04073
Standalone office offers a reception area, five private offices, and one restroom with updated accessibility features.
Property Size1,095 SF
Price / SF$410.87
Days on Market83
Property Features for 1087 Main Street
General Information
Standard status
Active
Size
1,095 SF
Property subtype
Commercial
Building Details
Year Built
1922
Listing Agency:
Town Square Realty Group
Listed By:
Brian Toth
(603) 433-3350
Source:
Greatislandrealty
Added: Jun 23
Changed: Sep 12
Last Checked: Sep 13 at 10:16AM
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 Town Square Realty Group
Investment Insights
Based on property information with market context.
This standalone office building is designed for a small office layout, featuring a welcoming reception area, five private offices, and one restroom. The property has been updated with accessibility features to support convenient access.
The building is positioned for main street visibility and includes a spacious parking lot. A detached two-car garage adds additional off-street parking or storage flexibility.
Overall, the improvements and interior configuration make this property well suited for professional use requiring a defined front reception and multiple private offices.
The building is positioned for main street visibility and includes a spacious parking lot. A detached two-car garage adds additional off-street parking or storage flexibility.
Overall, the improvements and interior configuration make this property well suited for professional use requiring a defined front reception and multiple private offices.
Key Highlights
- Standalone office building built in 1922 on Main Street with strong visibility
- Includes a welcoming reception area plus 5 private offices and 1 restroom
- Updated with accessibility features for convenient access
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
$17,936
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
3.99%
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%
$358,720
$358.7K
Cap Rate 7%
$256,229
$256.2K
Cap Rate 9%
$199,289
$199.3K
Market Conditions
NOI Build-Up for 1,095 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
$27.3K $24.96/SF
− Vacancy
−$3.4K −$3.12/SF
EGI
$23.9K $21.84/SF
− OpEx
−$6.0K −$5.46/SF
NOI
$17.9K $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 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%
$358,720
Cap Rate 7%
$256,229
Cap Rate 9%
$199,289
Alternative Uses
Best Use
Office B
$256.2K
$224.2K – $298.9K
NOI $17,936 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$347.1K
$303.7K – $405.0K
NOI $24,298 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
251
Businesses Nearby
Explore this area
Business Placement
Demographics for 04073, ME
17,283
Population
7,772
Households
2.2
Avg Household Size
41
Median Age
21%
College-Educated
90%
High-School Grad
37.7 sq mi
ZIP Area
458
Density / Sq Mi
$69,135
Median Household Income
$42,758
Median Earnings
$1,145
Median Rent
$259,500
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Standalone office offers a reception area, five private offices, and one restroom with updated accessibility features.
Where is this office building located?
The property is located at 1087 Main Street Sanford, ME.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Standalone office building built in 1922 on Main Street with strong visibility; Includes a welcoming reception area plus 5 private offices and 1 restroom; Updated with accessibility features for convenient access
