Medical Office Building For
For Sale
$6,900,000
21 Enterprise Dr, Augusta, ME 04330
Class A medical office building fully leased to MaineGeneral Medical
Property Size18,407 SF
Days on Market284
Property Features for 21 Enterprise Dr
General Information
Standard status
Active
Size
18,407 SF
Class
A
Property subtype
Office
Building Details
Building Size
18,407 SF
Year Built
2007
Listed By:
Chris Paszyc, SIOR, CCIM
(207) 939-4147
Source:
Boulos
Added: Nov 24, 2025
Changed: Sep 4
Last Checked: Aug 12 at 11:15AM
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 Chris Paszyc, SIOR, CCIM
Investment Insights
Based on property information with market context.
This is an 18,407 square foot Class A medical office building. It is fully leased to MaineGeneral Medical Center through December 31, 2028. The property includes 120 parking spaces. It is conveniently located near Civic Center Drive Interstate Exit 112 and MaineGeneral’s medical campus. The property features annual rental increases. The cap rate is 8.5%.
Key Highlights
- Fully‑leased to MaineGeneral Medical Center thru 12/31/2028
- 8.5% Cap Rate**
- 18,407±sf Class A Medical Office Building**
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
$260,204
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
3.77%
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%
$5,204,080
$5.2M
Cap Rate 7%
$3,717,200
$3.7M
Cap Rate 9%
$2,891,156
$2.9M
Market Conditions
NOI Build-Up for 18,407 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
$397.6K $21.60/SF
− Vacancy
−$50.7K −$2.75/SF
EGI
$346.9K $18.85/SF
− OpEx
−$86.7K −$4.71/SF
NOI
$260.2K $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 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%
$5,204,080
Cap Rate 7%
$3,717,200
Cap Rate 9%
$2,891,156
Alternative Uses
Best Use
Office B
$3.72M
$3.25M – $4.34M
NOI $260,204 @ 7.0% cap · market cap 3.77%
Second Best
Healthcare Medical
$3.56M
$3.11M – $4.15M
NOI $249,078 @ 7.0% cap · market cap 3.61%
Theoretical Best
Warehouse
$27.46M
$24.03M – $32.04M
NOI $1,922,302 @ 7.0% cap · market cap 27.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Well-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Class A medical office building fully leased to MaineGeneral Medical
Where is this medical office space located?
The property is located at 21 Enterprise Dr Augusta, ME.
What is the asking price?
The asking price for this property is $6,900,000.
What are key features of this property?
This property features: Fully‑leased to MaineGeneral Medical Center thru 12/31/2028; 8.5% Cap Rate**; 18,407±sf Class A Medical Office Building**
