Three-Building Mixed-Use
For Sale
$949,000
700 Stroudwater Street, Westbrook, ME 04092
The site combines single-story office, residential, and barn buildings in one commercial property.
Property Size5,448 SF
Days on Market1011
Property Features for 700 Stroudwater Street
General Information
Standard status
Active
Size
5,448 SF
Property subtype
Commercial
Zoning
HS
Taxes and HOA fees
Annual Taxes
$7,670
Building Details
Building Size
5,448 SF
Year Built
1957
Listing Agency:
The Boulos Company
(207) 831-5838
Listed By:
Andrew Sigfridson
(207) 831-5838
Source:
Startpoint
Added: Nov 15, 2023
Changed: Aug 21
Last Checked: Aug 21 at 1:40PM
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 The Boulos Company
Investment Insights
Based on property information with market context.
This mixed-use property includes three single-level structures totaling 5,448 square feet on 3.17 acres. Improvements consist of a 680-square-foot office, a 2,944-square-foot residential building with an attached garage, and an approximately 1,152-square-foot barn. The buildings date to 1957, and the property carries HS zoning.
Located at 700 Stroudwater Street in Westbrook, Maine, the property sits just off Exit 47 of the Maine Turnpike. The combination of office, residential, and agricultural-style space creates a varied existing configuration within a single parcel.
Located at 700 Stroudwater Street in Westbrook, Maine, the property sits just off Exit 47 of the Maine Turnpike. The combination of office, residential, and agricultural-style space creates a varied existing configuration within a single parcel.
Key Highlights
- Three single‑story buildings totaling 5,448 SF
- 3.17‑acre mixed‑use property
- 680 SF office building
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
$77,994
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
8.22%
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%
$1,559,880
$1.6M
Cap Rate 7%
$1,114,200
$1.1M
Cap Rate 9%
$866,600
$866.6K
Market Conditions
NOI Build-Up for 5,448 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
$119.0K $21.84/SF
− Vacancy
−$15.0K −$2.75/SF
EGI
$104.0K $19.09/SF
− OpEx
−$26.0K −$4.77/SF
NOI
$78.0K $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%
$1,559,880
Cap Rate 7%
$1,114,200
Cap Rate 9%
$866,600
Alternative Uses
Best Use
Office B
$1.11M
$974.9K – $1.30M
NOI $77,994 @ 7.0% cap · market cap 8.22%
Second Best
Mixed Use
$966.6K
$845.8K – $1.13M
NOI $67,664 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,817 @ 7.0% cap · market cap 11.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 04092, ME
20,400
Population
9,404
Households
2.2
Avg Household Size
40
Median Age
40%
College-Educated
96%
High-School Grad
17.2 sq mi
ZIP Area
1,186
Density / Sq Mi
$85,868
Median Household Income
$49,922
Median Earnings
$1,373
Median Rent
$341,800
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?
Mixed-use property - The site combines single-story office, residential, and barn buildings in one commercial property.
Where is this mixed-use property located?
The property is located at 700 Stroudwater Street Westbrook, ME.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Three single‑story buildings totaling 5,448 SF; 3.17‑acre mixed‑use property; 680 SF office building
