Live-Work Space with Detached 3-Car
For Sale
$525,000
15 Phillips Road, Glenburn, ME 04401
COMMERCIAL - Glenburn, ME
Property Size3,314 SF
Lot Size1.00 Acre
Price / SF$158.42
Days on Market18
Property Features for 15 Phillips Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Res/Comm
Rooms
Basement
Basement
Finished, Full, Walk-Out Access
Lot features
Near Turnpike/ Interstate, Near Airport, Near Shopping, Rural
Standard status
Active
Size
3,314 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4252
Utilities
Sewer type
Septic Tank, Private Sewer
Heating system
Hot Water(Heating), Zoned, Baseboard, Oil, Electric (Heating)
Cooling system
Heat Pump
Water source
Private, Well
Amenities
detached garage
Building Details
Year built
1988
Number of units
1
Flooring type
Wood, Carpet, Vinyl
Building materials
Wood Frame, Wood Siding
Roof type
Metal
Listing Agency:
Realty of Maine
(207) 942-6310
Listed By:
Carissa Marsh
(207) 974-6606
Added: Jul 20
Changed: Aug 4
Last Checked: Aug 6 at 6:06AM
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.
Investment Insights
Based on property information with market context.
Live-work property on a 1-acre lot featuring a modern ranch-style living setup and a detached 3-car garage. The home includes over 2,000 square feet of ranch-style living space, plus approximately 1,300 square feet of finished lower-level office space. The property has supported multiple uses over time, including a combination office and residence, and it was originally operated as a restaurant.
Building systems include a heat pump for cooling, hot water and baseboard heating with oil and electric elements, and zoned heating. The home is wood-framed with wood siding, metal roofing, and mixed flooring finishes. Water service is via a well and private sources, and wastewater is handled by a private septic system.
A commercial-sized septic system remains in place, supporting flexibility for future concepts. Buyers are encouraged to consult the Town of Glenburn regarding permitted and approved uses for this Res/Comm zoning configuration.
Building systems include a heat pump for cooling, hot water and baseboard heating with oil and electric elements, and zoned heating. The home is wood-framed with wood siding, metal roofing, and mixed flooring finishes. Water service is via a well and private sources, and wastewater is handled by a private septic system.
A commercial-sized septic system remains in place, supporting flexibility for future concepts. Buyers are encouraged to consult the Town of Glenburn regarding permitted and approved uses for this Res/Comm zoning configuration.
Key Highlights
- 1‑acre lot with over 2,000 SF modern ranch‑style living space
- Approximately 1,300 SF finished lower‑level office space
- Detached 3‑car garage
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
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Res/Comm zoned live-work property with finished lower-level office space and heat pump cooling.
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: 1‑acre lot with over 2,000 SF modern ranch‑style living space; Approximately 1,300 SF finished lower‑level office space; Detached 3‑car garage
