Office and Apartment
For Sale
$475,000
6 Stoddard Lane, Hallowell, ME 04347
Mixed-use building with multiple offices plus two 1-bedroom apartments, including renovated second-floor unit.
Property Size3,687 SF
Price / SF$128.83
Days on Market492
Property Features for 6 Stoddard Lane
General Information
Standard status
Active
Size
3,687 SF
Property subtype
Multi-Family
Zoning
Commercial/residenti
Units
Multifamily Units
2
Office Units
7
Taxes and HOA fees
Annual Taxes
$4,707
Amenities
shared waiting room
half bath
kitchenette
private full bath
individual air-conditioning
washer/dryer hookup
private entry
handicap accessible entry
plenty of parking
Other
Hot Water, Direct Vent Furnace
3
Interior, Walk-Out Access, Daylight, Finished, Full, Sump Pump, Doghouse
Wood, Tile, Laminate, Concrete
Yes
36+ Inch Doors, 36 - 48 Inch Halls, Accessible Approach with Ramp
2.00
2
Pitched, Shingle
No
Vinyl Siding, Concrete, Wood Frame
Building Details
Year Built
1930
Units
2
Tenancy
Multi
Listing Agency:
www.HomeZu.com
Listed By:
Jason Saphire · License #0818954
(877) 249-5478
Source:
Compass
Added: May 3, 2025
Changed: Aug 8
Last Checked: Jul 22 at 8:49AM
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 www.HomeZu.com
Investment Insights
Based on property information with market context.
This established mixed-use property at 6 Stoddard Lane includes office space and apartment units. The main level features a shared waiting room with visitor access to a half bath, plus seven sun-filled offices. Each office includes its own air-conditioning unit, and multiple offices are equipped with a private full bath and kitchenette. The building also provides multiple egress options and an enclosed, handicap-accessible entry that is State Fire Marshall approved.
A newly painted daylight basement provides a 1-bedroom, 1-bath apartment with washer/dryer hookup, an office, and a full kitchen with stainless steel appliances. On the second floor, there is a 1-bedroom, 1-full-bath apartment with a brand-new renovation completed in June 2025 and washer/dryer hookup, with a private entry from the front porch or side staircase. The property offers plenty of parking.
Income and expense information is available upon request to qualified buyers, and showing times are limited due to client confidentiality for office tenants.
A newly painted daylight basement provides a 1-bedroom, 1-bath apartment with washer/dryer hookup, an office, and a full kitchen with stainless steel appliances. On the second floor, there is a 1-bedroom, 1-full-bath apartment with a brand-new renovation completed in June 2025 and washer/dryer hookup, with a private entry from the front porch or side staircase. The property offers plenty of parking.
Income and expense information is available upon request to qualified buyers, and showing times are limited due to client confidentiality for office tenants.
Key Highlights
- Mixed‑use office and apartment building with seven offices on the main level plus two 1‑bedroom apartments
- Main‑level office suite includes a shared waiting room and visitor half bath, with seven sun‑filled offices and individual air‑conditioning units
- Daylight walk‑out basement apartment offers 1 bedroom, 1 bath, office space, and full kitchen with stainless steel appliances; includes washer/dryer hookup
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
$41,175
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
8.67%
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%
$823,500
$823.5K
Cap Rate 7%
$588,214
$588.2K
Cap Rate 9%
$457,500
$457.5K
Market Conditions
NOI Build-Up for 3,687 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
$59.7K $16.20/SF
− Vacancy
−$908 −$0.25/SF
EGI
$58.8K $15.95/SF
− OpEx
−$17.6K −$4.79/SF
NOI
$41.2K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$823,500
Cap Rate 7%
$588,214
Cap Rate 9%
$457,500
Alternative Uses
Best Use
Office B
$744.6K
$651.5K – $868.7K
NOI $52,120 @ 7.0% cap · market cap 10.97%
Second Best
Multifamily LT 5
$588.2K
$514.7K – $686.3K
NOI $41,175 @ 7.0% cap · market cap 8.67%
Theoretical Best
Warehouse
$5.50M
$4.81M – $6.42M
NOI $385,045 @ 7.0% cap · market cap 81.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Office units
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
342
Businesses Nearby
Explore this area
Business Placement
Demographics for 04347, ME
2,570
Population
1,436
Households
1.8
Avg Household Size
51
Median Age
46%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
436
Density / Sq Mi
$58,811
Median Household Income
$37,027
Median Earnings
$830
Median Rent
$266,700
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?
Office units - Mixed-use building with multiple offices plus two 1-bedroom apartments, including renovated second-floor unit.
Where is this office units located?
The property is located at 6 Stoddard Lane Hallowell, ME.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Mixed‑use office and apartment building with seven offices on the main level plus two 1‑bedroom apartments; Main‑level office suite includes a shared waiting room and visitor half bath, with seven sun‑filled offices and individual air‑conditioning units; Daylight walk‑out basement apartment offers 1 bedroom, 1 bath, office space, and full kitchen with stainless steel appliances; includes washer/dryer hookup
