Versatile Building in Corinth,
For Sale
$129,900
562 Ledge Hill Road, Corinth, ME 04427
Adaptable commercial building with open floor plan in Corinth.
Property Size1,656 SF
Lot Size0.50 Acres
Price / SF$78.44
Days on Market661
Property Features for 562 Ledge Hill Road
General Information
Standard status
Active
Size
1,656 SF
Lot size
0.50 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1890
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
(207) 942-6711
Listed By:
Carolyn Hammond
(207) 942-6711
Source:
Exitrealty
Added: Oct 8, 2024
Changed: Jul 10
Last Checked: Jul 30 at 7:37AM
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 Better Homes & Gardens Real Estate/The Masiello Group
Investment Insights
Based on property information with market context.
This solid, approximately 1,656 square foot building located in Corinth, Maine, presents a versatile opportunity for various uses. The property features an open floor plan. The property is also listed as residential.
Key Highlights
- No zoning restrictions offer flexible usage options.
- Open floor plan allows for customizable space.
- Suitable for residential conversion into a house.
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $14.9k | $9.00 |
| − Vacancy | −$969 | −$0.59 |
| EGI | $13.9k | $8.42 |
| − OpEx | −$4.2k | −$2.52 |
| NOI | $9.8k | $5.89 |
1,656 SF · lease $9.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Flex RnD
$204.0K
$178.5K – $238.0K
NOI $14,281 @ 7.0% cap · market cap 10.99%
Second Best
Industrial
$139.4K
$121.9K – $162.6K
NOI $9,755 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$534.8K
$468.0K – $624.0K
NOI $37,439 @ 7.0% cap · market cap 28.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04427, ME
2,900
Population
1,288
Households
2.3
Avg Household Size
41
Median Age
20%
College-Educated
94%
High-School Grad
40.3 sq mi
ZIP Area
72
Density / Sq Mi
$60,612
Median Household Income
$40,776
Median Earnings
$773
Median Rent
$123,500
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial building with open floor plan in Corinth.
Where is this flex space located?
The property is located at 562 Ledge Hill Road Corinth, ME.
What is the asking price?
The asking price for this property is $129,900.
What are key features of this property?
This property features: No zoning restrictions offer flexible usage options.; Open floor plan allows for customizable space.; Suitable for residential conversion into a house.
