Nursing Home Building with
For Sale
$500,000
146 N North Main Street, Mechanic Falls, ME 04256
Flexible layout includes a commercial kitchen, ADA bathrooms, offices, and dedicated support rooms.
Property Size5,744 SF
Lot Size3.40 Acres
Price / SF$87.05
Days on Market962
Property Features for 146 N North Main Street
General Information
Standard status
Active
Size
5,744 SF
Lot size
3.40 Acres
Property subtype
Commercial
Zoning
GR
Taxes and HOA fees
Annual Taxes
$11,439
Amenities
large common area
commercial kitchen
2 ADA baths
staff bathroom
separate laundry and utility rooms
copy room with 2 offices
commercial generator
Building Details
Building Size
5,744 SF
Year Built
1986
Buildings
3
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
(207) 740-6934
Listed By:
Jane Cyr
(207) 740-6934
Source:
Startpoint
Added: Jan 11, 2024
Changed: Aug 29
Last Checked: Aug 29 at 5:50PM
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 5744 SF building, constructed in 1986, occupies a 3.4-acre site and was previously used as a nursing home. The interior offers a large common area, commercial kitchen, 2 ADA bathrooms, a staff bathroom, separate laundry and utility rooms, a copy room, and 2 offices. Exterior improvements include a 1-car garage, 3-bay storage building, commercial generator, on-site parking, and a horseshoe driveway serving the front courtyard. Zoning is GR.
Located at 146 N North Main Street in Mechanic Falls, Maine, the property provides a substantial commercial facility with a layout that includes both common-use and administrative spaces. Its existing rooms and support areas are suited to continued healthcare-related use or other uses supported by the applicable zoning and approvals.
Located at 146 N North Main Street in Mechanic Falls, Maine, the property provides a substantial commercial facility with a layout that includes both common-use and administrative spaces. Its existing rooms and support areas are suited to continued healthcare-related use or other uses supported by the applicable zoning and approvals.
Key Highlights
- 5744 SF building on a 3.4‑acre lot
- Previously used as a nursing home
- Commercial kitchen, large common area, and 2 ADA bathrooms
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
$45,110
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
9.02%
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%
$902,200
$902.2K
Cap Rate 7%
$644,429
$644.4K
Cap Rate 9%
$501,222
$501.2K
Market Conditions
NOI Build-Up for 5,744 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
$86.2K $15.00/SF
− Vacancy
−$11.0K −$1.91/SF
EGI
$75.2K $13.09/SF
− OpEx
−$30.1K −$5.24/SF
NOI
$45.1K $7.85/SF
Area
Androscoggin County, ME
Vacancy
12.74%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
40.00%
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%
$902,200
Cap Rate 7%
$644,429
Cap Rate 9%
$501,222
Alternative Uses
Best Use
Healthcare Medical
$644.4K
$563.9K – $751.8K
NOI $45,110 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$10.20M
$8.93M – $11.90M
NOI $714,124 @ 7.0% cap · market cap 142.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 04256, ME
3,107
Population
1,195
Households
2.6
Avg Household Size
41
Median Age
15%
College-Educated
92%
High-School Grad
11.0 sq mi
ZIP Area
282
Density / Sq Mi
$58,958
Median Household Income
$36,601
Median Earnings
$1,160
Median Rent
$224,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Nursing home - Flexible layout includes a commercial kitchen, ADA bathrooms, offices, and dedicated support rooms.
Where is this nursing home located?
The property is located at 146 N North Main Street Mechanic Falls, ME.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 5744 SF building on a 3.4‑acre lot; Previously used as a nursing home; Commercial kitchen, large common area, and 2 ADA bathrooms
