Updated Storefront
For Sale
$475,000
358 Main Street, Yarmouth, ME 04096
CD-4-zoned commercial space with central HVAC, efficient lighting, and a heat pump water heater.
Property Size1,204 SF
Price / SF$394.52
Days on Market843
Property Features for 358 Main Street
General Information
Standard status
Active
Size
1,204 SF
Property subtype
Commercial
Zoning
CD-4
Taxes and HOA fees
Annual Taxes
$4,397
Amenities
energy-efficient lighting
central HVAC
heat pump water heater
Building Details
Building Size
1,204 SF
Year Built
1890
Buildings
1
Listing Agency:
Portside Real Estate Group
(207) 233-8314
Listed By:
John Fitzsimons
(207) 233-8314
Source:
Startpoint
Added: Apr 26, 2024
Changed: Aug 13
Last Checked: Aug 16 at 2:38PM
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 Portside Real Estate Group
Investment Insights
Based on property information with market context.
Built in 1890, this 1,204 +/- SF commercial building offers an updated interior suited to storefront-oriented use. The property has most recently operated as a bakery and previously served as professional office space, creating a documented history of varied commercial occupancy. Energy-efficient lighting, central HVAC, and a heat pump water heater add modern building systems.
The property is located at 358 Main Street in Yarmouth, Maine, within the CD-4 zoning district. The real estate offering provides a physical setting for a range of commercial uses, while FF&E may be discussed separately for operators considering a food-service format.
The property is located at 358 Main Street in Yarmouth, Maine, within the CD-4 zoning district. The real estate offering provides a physical setting for a range of commercial uses, while FF&E may be discussed separately for operators considering a food-service format.
Key Highlights
- 1,204 +/- SF commercial building
- Built in 1890
- CD‑4 zoning
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
$17,237
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
3.63%
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%
$344,740
$344.7K
Cap Rate 7%
$246,243
$246.2K
Cap Rate 9%
$191,522
$191.5K
Market Conditions
NOI Build-Up for 1,204 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
$26.3K $21.84/SF
− Vacancy
−$3.3K −$2.75/SF
EGI
$23.0K $19.09/SF
− OpEx
−$5.7K −$4.77/SF
NOI
$17.2K $14.32/SF
Area
Cumberland County, ME
Vacancy
12.60%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
25.00%
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%
$344,740
Cap Rate 7%
$246,243
Cap Rate 9%
$191,522
Alternative Uses
Best Use
Office B
$246.2K
$215.5K – $287.3K
NOI $17,237 @ 7.0% cap · market cap 3.63%
Second Best
Retail
$179.9K
$157.4K – $209.9K
NOI $12,591 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$330.9K
$289.6K – $386.1K
NOI $23,164 @ 7.0% cap · market cap 4.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
575
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 04096, ME
8,990
Population
3,625
Households
2.5
Avg Household Size
45
Median Age
69%
College-Educated
99%
High-School Grad
13.4 sq mi
ZIP Area
671
Density / Sq Mi
$107,911
Median Household Income
$50,848
Median Earnings
$1,709
Median Rent
$572,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - CD-4-zoned commercial space with central HVAC, efficient lighting, and a heat pump water heater.
Where is this storefront property located?
The property is located at 358 Main Street Yarmouth, 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: 1,204 +/- SF commercial building; Built in 1890; CD‑4 zoning
