Mixed-Use Property with
14 Granite Hill Road, Manchester, ME 04351
For Sale
$365,000
General Development zoning accommodates a range of commercial and mixed-use possibilities, subject to applicable approvals.
Property Size2,882 SF
Price / SF$126.65
Days on Market140
Property Features for 14 Granite Hill Road
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Corner Location
Highway Access
Road Access
Taxes and HOA fees
Annual Taxes
Amenities
Storage
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Listings Direct
Listed By:
Christopher Voynik
(207) 313-0959
Source:
Hayesrealestate
Added: Jun 24
Changed: Nov 10
Last Checked: Nov 10 at 1:35AM
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 Listings Direct
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Investment Insights
Based on property information with market context.
This 2,882-square-foot mixed-use property, built in 1976, occupies a nearly one-acre corner parcel in Manchester. Three entrances provide separate access to each level, while a large gravel parking area serves the site. A separate outbuilding on a concrete slab adds storage and work space. Two heat pumps and solar panels were installed two years ago.
The property is situated at Route 202 and Granite Hill Road. Nearby portions of Route 202 have recorded annual average daily traffic counts above 14,000 vehicles. The General Development District designation supports a range of uses, subject to applicable approvals, including office, retail, service, mixed-use, and multifamily applications.
The property is situated at Route 202 and Granite Hill Road. Nearby portions of Route 202 have recorded annual average daily traffic counts above 14,000 vehicles. The General Development District designation supports a range of uses, subject to applicable approvals, including office, retail, service, mixed-use, and multifamily applications.
Key Highlights
- 2,882‑square‑foot property on a nearly one‑acre corner lot
- Three separate entrances, with one serving each level
- Large outbuilding set on a concrete slab
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,731
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$594,620
$594.6K
Cap Rate 7%
$424,729
$424.7K
Cap Rate 9%
$330,344
$330.3K
Market Conditions
NOI Build-Up for 2,882 SF
Gross rent
$51.9K $18.00/SF
− Vacancy
−$4.3K −$1.49/SF
EGI
$47.6K $16.51/SF
− OpEx
−$17.8K −$6.19/SF
NOI
$29.7K $10.32/SF
Area
Kennebec County, ME
Vacancy
8.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$594,620
Cap Rate 7%
$424,729
Cap Rate 9%
$330,344
Alternative Uses
Best Use
Office B
$582.0K
$509.3K – $679.0K
NOI $40,740 @ 7.0% cap · market cap 11.16%
Second Best
Healthcare Medical
$557.1K
$487.5K – $650.0K
NOI $38,998 @ 7.0% cap · market cap 10.68%
Theoretical Best
Office A
$819.1K
$716.7K – $955.6K
NOI $57,338 @ 7.0% cap · market cap 15.71%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
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Business Placement
Demographics for 04351, ME
2,462
Population
1,209
Households
2
Avg Household Size
49
Median Age
48%
College-Educated
96%
High-School Grad
21.5 sq mi
ZIP Area
115
Density / Sq Mi
$89,453
Median Household Income
$48,571
Median Earnings
$968
Median Rent
$284,700
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Kennebec County, ME
Properties on Market for Mixed-use properties in Kennebec County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - General Development zoning accommodates a range of commercial and mixed-use possibilities, subject to applicable approvals.
Where is this mixed-use property located?
The property is located at 14 Granite Hill Road Manchester, ME.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 2,882‑square‑foot property on a nearly one‑acre corner lot; Three separate entrances, with one serving each level; Large outbuilding set on a concrete slab
