Second-Floor Office
For Sale
$249,900
1222 Portland Rd Unit 10, Arundel, ME 04046
Flexible commercial layout in an established professional complex supports office and service-oriented uses.
Property Size1,520 SF
Price / SF$164.41
Days on Market49
Property Features for 1222 Portland Rd Unit 10
General Information
Standard status
Active
Size
1,520 SF
Additional Details
Floor
2
Building Details
Year Built
1986
Listing Agency:
McKechnie Commercial Realty
Listed By:
Suzanne McKechnie
(207) 467-5877
Source:
Aroostookrealestate
Added: Sep 5
Changed: Oct 12
Last Checked: Oct 7 at 3:36PM
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 McKechnie Commercial Realty
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Investment Insights
Based on property information with market context.
This 1,520 SF commercial condominium occupies the second floor of a professional complex established in 1986. The adaptable layout can accommodate professional office, therapy, wellness, medical, and other service-oriented uses, providing a practical setting for an owner-user or commercial investor.
The property is positioned along the Route 1 corridor in Arundel, with access to Kennebunk, Biddeford, and surrounding York County communities. Its condominium format offers a manageable commercial unit within an established professional setting.
The property is positioned along the Route 1 corridor in Arundel, with access to Kennebunk, Biddeford, and surrounding York County communities. Its condominium format offers a manageable commercial unit within an established professional setting.
Key Highlights
- 1,520 SF commercial condominium
- Second‑floor unit in a professional complex
- Built in 1986
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,590
Cap Rate
8.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$411,800
$411.8K
Cap Rate 7%
$294,143
$294.1K
Cap Rate 9%
$228,778
$228.8K
Market Conditions
NOI Build-Up for 1,520 SF
Gross rent
$38.3K $25.20/SF
− Vacancy
−$4.0K −$2.62/SF
EGI
$34.3K $22.58/SF
− OpEx
−$13.7K −$9.03/SF
NOI
$20.6K $13.55/SF
Area
York County, ME
Vacancy
10.41%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$411,800
Cap Rate 7%
$294,143
Cap Rate 9%
$228,778
Alternative Uses
Best Use
Office B
$355.7K
$311.2K – $415.0K
NOI $24,898 @ 7.0% cap · market cap 9.96%
Second Best
Healthcare Medical
$294.1K
$257.4K – $343.2K
NOI $20,590 @ 7.0% cap · market cap 8.24%
Theoretical Best
Office A
$481.8K
$421.6K – $562.1K
NOI $33,728 @ 7.0% cap · market cap 13.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
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Business Placement
Demographics for 04046, ME
7,893
Population
4,740
Households
1.7
Avg Household Size
51
Median Age
41%
College-Educated
98%
High-School Grad
44.4 sq mi
ZIP Area
178
Density / Sq Mi
$99,861
Median Household Income
$43,000
Median Earnings
$1,250
Median Rent
$559,900
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Flexible commercial layout in an established professional complex supports office and service-oriented uses.
Where is this office unit located?
The property is located at 1222 Portland Rd Unit 10 Arundel, ME.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 1,520 SF commercial condominium; Second‑floor unit in a professional complex; Built in 1986
