Live-Work Property with Three-Car
15 Phillips Road, Glenburn, ME 04401
For Sale
$499,900
Commercial Sale, Glenburn, ME
Property Size3,314 SF
Lot Size1.00 Acre
Price / SF$150.84
Days on Market110
Property Features for 15 Phillips Road
General Information
Property type
Property subtype
Zoning
Rooms
Basement
Lot features
Standard status
Size
Lot size
Additional Details
Property Use
Condition
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Realty of Maine
(207) 942-6310
Listed By:
Carissa Marsh
(207) 974-6606
Added: Jul 20
Changed: Nov 3
Last Checked: Nov 6 at 10:06PM
MLS# 1667506
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This live-work property at 15 Phillips Road includes 3,314 square feet of space on 1 acre, with modern ranch-style residential areas, finished lower-level office space, and a detached three-car garage. The building was constructed in 1988 and features wood-frame construction with wood siding, a metal roof, baseboard and heat-pump systems, and private well and septic service.
The property has supported both office-and-residential use and restaurant operations in the past. A commercial-sized septic system remains in place. Res/Comm zoning provides a framework for evaluating combined residential and commercial applications, while permitted and approved uses should be confirmed with the Town of Glenburn. The Glenburn address places the property in Penobscot County, Maine.
The property has supported both office-and-residential use and restaurant operations in the past. A commercial-sized septic system remains in place. Res/Comm zoning provides a framework for evaluating combined residential and commercial applications, while permitted and approved uses should be confirmed with the Town of Glenburn. The Glenburn address places the property in Penobscot County, Maine.
Key Highlights
- 3,314 square feet on 1 acre
- Detached 3‑car garage
- Approximately 1,300 square feet of finished lower‑level office space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,749
Cap Rate
4.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$474,980
$475.0K
Cap Rate 7%
$339,271
$339.3K
Cap Rate 9%
$263,878
$263.9K
Market Conditions
NOI Build-Up for 3,314 SF
Gross rent
$41.8K $12.60/SF
− Vacancy
−$3.8K −$1.13/SF
EGI
$38.0K $11.47/SF
− OpEx
−$14.2K −$4.30/SF
NOI
$23.7K $7.17/SF
Area
Penobscot County, ME
Vacancy
9.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$474,980
Cap Rate 7%
$339,271
Cap Rate 9%
$263,878
Alternative Uses
Best Use
Office B
$669.2K
$585.6K – $780.8K
NOI $46,847 @ 7.0% cap · market cap 9.37%
Second Best
Mixed Use
$339.3K
$296.9K – $395.8K
NOI $23,749 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$1.07M
$936.5K – $1.25M
NOI $74,923 @ 7.0% cap · market cap 14.99%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
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Business Placement
Demographics for 04401, ME
44,608
Population
20,932
Households
2.1
Avg Household Size
40
Median Age
37%
College-Educated
96%
High-School Grad
100.1 sq mi
ZIP Area
446
Density / Sq Mi
$66,136
Median Household Income
$40,863
Median Earnings
$1,048
Median Rent
$229,600
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Live-work space - Res/Comm-zoned property combines residential space with finished office areas and a detached garage.
Where is this live-work space located?
The property is located at 15 Phillips Road Glenburn, ME.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 3,314 square feet on 1 acre; Detached 3‑car garage; Approximately 1,300 square feet of finished lower‑level office space
