Ranch Live-Work Property with
15 Phillips Road Glenburn, ME 04401
For Sale
$525,000
Modern ranch home includes finished lower-level office space and a detached three-car garage.
Days on Market45
Property Features for 15 Phillips Road
General Information
Standard status
Active
Property subtype
Commercial
Building Details
Year Built
1988
Listing Agency:
Realty of Maine
(207) 974-6606
Listed By:
Carissa Marsh
(207) 974-6606
Source:
Startpoint
Added: Jun 16
Changed: Jul 29
Last Checked: Jul 29 at 7:11AM
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 Realty of Maine
Investment Insights
Based on property information with market context.
This property combines modern ranch-style living space with dedicated, finished lower-level office area. The home is described as offering over 2,000 square feet of living space, along with approximately 1,300 square feet of finished lower-level office space, plus a detached 3-car garage. Over the years, it has supported a mix of office and residence, offering flexibility for a live/work arrangement.
The location is described as highly visible with convenient access, and the property is adjacent to several miles of walking trails. Buyers are encouraged to consult with the Town of Glenburn regarding permitted and approved uses, as future uses may vary.
Overall, the existing combination of living space, finished office area, and detached garage provides a straightforward configuration for users seeking a single property that can support both professional work and day-to-day living.
The location is described as highly visible with convenient access, and the property is adjacent to several miles of walking trails. Buyers are encouraged to consult with the Town of Glenburn regarding permitted and approved uses, as future uses may vary.
Overall, the existing combination of living space, finished office area, and detached garage provides a straightforward configuration for users seeking a single property that can support both professional work and day-to-day living.
Key Highlights
- 1988‑built modern ranch‑style home with over 2,000 sq ft of living space
- Detached 3‑car garage provides dedicated parking and storage
- Approximately 1,300 sq ft of finished lower‑level office space
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.6k | $21.60 |
| − Vacancy | −$9.1k | −$2.75 |
| EGI | $62.5k | $18.85 |
| − OpEx | −$15.6k | −$4.71 |
| NOI | $46.8k | $14.14 |
3,314 SF · lease $21.60/SF/yr · vacancy 12.74% · expense 25.00%
Alternative Uses
Best Use
Office B
$669.2K
$585.6K – $780.8K
NOI $46,847 @ 7.0% cap · market cap 8.92%
Second Best
Mixed Use
$339.3K
$296.9K – $395.8K
NOI $23,749 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$1.07M
$936.5K – $1.25M
NOI $74,923 @ 7.0% cap · market cap 14.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Live-work space - Modern ranch home includes finished lower-level office space and a detached three-car 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 $525,000.
What are key features of this property?
This property features: 1988‑built modern ranch‑style home with over 2,000 sq ft of living space; Detached 3‑car garage provides dedicated parking and storage; Approximately 1,300 sq ft of finished lower‑level office space
