First-Floor Professional Office
For Sale
$359,900
1228 Portland Road Unit 4, Arundel, ME 04046
The adaptable floor plan supports professional and service-oriented uses in an established office complex.
Property Size1,520 SF
Price / SF$236.78
Days on Market19
Property Features for 1228 Portland Road Unit 4
General Information
Standard status
Active
Size
1,520 SF
Property subtype
Commercial
Additional Details
Floor
1
Building Details
Year Built
1986
Listing Agency:
McKechnie Commercial Realty
Listed By:
Suzanne McKechnie
(603) 433-3350
Source:
Greatislandrealty
Added: Sep 19
Changed: Oct 6
Last Checked: Oct 6 at 2:26AM
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
Investment Insights
Based on property information with market context.
This 1,520-square-foot commercial condominium occupies the first floor of a professional complex in Arundel. Its flexible interior is suited to office, therapy, wellness, medical, and other service-based operations. The building dates to 1986.
The property is positioned along 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 positioned along 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‑square‑foot commercial condominium
- First‑floor unit in a professional complex
- Flexible layout for office, therapy, wellness, medical, or other service uses
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.
Property Analytics
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Open Analytics
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
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Frequently Asked Questions
What type of property is this?
Office units - The adaptable floor plan supports professional and service-oriented uses in an established office complex.
Where is this office units located?
The property is located at 1228 Portland Road Unit 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‑square‑foot commercial condominium; First‑floor unit in a professional complex; Flexible layout for office, therapy, wellness, medical, or other service uses
