Professional Office
For Sale
$359,900
1228 Portland Road 4, Arundel, ME 04046
The ground-level suite offers a flexible plan for professional and service-oriented uses.
Property Size1,520 SF
Price / SF$236.78
Days on Market38
Property Features for 1228 Portland Road 4
General Information
Standard status
Active
Size
1,520 SF
Property subtype
General Commercial
Additional Details
Floor
1st Floor
Property Use
Professional Office
Taxes and HOA fees
Annual Taxes
$1,511
Building Details
Building Size
1,520 SF
Year Built
1986
Listing Agency:
McKechnie Commercial Realty
Listed By:
Suzanne McKechnie
(207) 467-5877
Source:
Oceanviewproperties
Added: Sep 25
Changed: Oct 30
Last Checked: Oct 30 at 2:06AM
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-square-foot commercial condominium is a ground-floor unit within a professional complex in Arundel. Built in 1986, the space has a flexible layout that may accommodate office, therapy, wellness, medical, or other service uses.
The property is located on the Route 1 corridor, with access to Kennebunk, Biddeford, and other York County communities. A second-floor unit directly above may also be available.
The property is located on the Route 1 corridor, with access to Kennebunk, Biddeford, and other York County communities. A second-floor unit directly above may also be available.
Key Highlights
- 1,520 SF commercial condominium
- Ground‑floor unit in a professional complex
- Built in 1986
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,898
Cap Rate
6.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$497,960
$498.0K
Cap Rate 7%
$355,686
$355.7K
Cap Rate 9%
$276,644
$276.6K
Market Conditions
NOI Build-Up for 1,520 SF
Gross rent
$37.9K $24.96/SF
− Vacancy
−$4.7K −$3.12/SF
EGI
$33.2K $21.84/SF
− OpEx
−$8.3K −$5.46/SF
NOI
$24.9K $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 Rate 5%
$497,960
Cap Rate 7%
$355,686
Cap Rate 9%
$276,644
Alternative Uses
Best Use
Office B
$355.7K
$311.2K – $415.0K
NOI $24,898 @ 7.0% cap · market cap 6.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$481.8K
$421.6K – $562.1K
NOI $33,728 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - The ground-level suite offers a flexible plan for professional and service-oriented uses.
Where is this office unit located?
The property is located at 1228 Portland Road 4 Arundel, ME.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: 1,520 SF commercial condominium; Ground‑floor unit in a professional complex; Built in 1986
