Mixed-Use Brick
For Sale
$447,500
15 Railroad St, Clinton, ME 04927
A postal tenant occupies the main floor, with two apartments above, each served by a private entrance.
Property Size3,952 SF
Price / SF$113.23
Days on Market11
Property Features for 15 Railroad St
General Information
Standard status
Active
Size
3,952 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Mixed-Use Components
retail, residential
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,469
Building Details
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Whittemore's Real Estate
(207) 474-3303
Listed By:
Amy Noble
(207) 431-4869
Source:
Exprealty
Added: Oct 22
Changed: Oct 28
Last Checked: Oct 30 at 2:34PM
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 Whittemore's Real Estate
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Investment Insights
Based on property information with market context.
This 3,952-square-foot historic brick property in downtown Clinton combines a ground-floor United States Post Office with two second-floor apartments. The apartments have separate private entrances, providing distinct access from the postal space. The building is identified as a former post office and is located at 15 Railroad St.
The post office occupies the main level under a government lease with ten years remaining. The two apartments are located on the floor above.
The post office occupies the main level under a government lease with ten years remaining. The two apartments are located on the floor above.
Key Highlights
- 3,952‑square‑foot mixed‑use building
- United States Post Office occupies the main floor under a government lease with ten years remaining
- Two apartments on the second floor, each with a private entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,770
Cap Rate
9.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$815,400
$815.4K
Cap Rate 7%
$582,429
$582.4K
Cap Rate 9%
$453,000
$453.0K
Market Conditions
NOI Build-Up for 3,952 SF
Gross rent
$71.1K $18.00/SF
− Vacancy
−$5.9K −$1.49/SF
EGI
$65.2K $16.51/SF
− OpEx
−$24.5K −$6.19/SF
NOI
$40.8K $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%
$815,400
Cap Rate 7%
$582,429
Cap Rate 9%
$453,000
Alternative Uses
Best Use
Mixed Use
$582.4K
$509.6K – $679.5K
NOI $40,770 @ 7.0% cap · market cap 9.11%
Second Best
Apartment 5plus
$550.0K
$481.2K – $641.7K
NOI $38,499 @ 7.0% cap · market cap 8.60%
Theoretical Best
Warehouse
$5.90M
$5.16M – $6.88M
NOI $412,720 @ 7.0% cap · market cap 92.23%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
74
Businesses Nearby
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Business Placement
Demographics for 04927, ME
3,370
Population
1,528
Households
2.2
Avg Household Size
44
Median Age
19%
College-Educated
95%
High-School Grad
43.9 sq mi
ZIP Area
77
Density / Sq Mi
$74,544
Median Household Income
$38,289
Median Earnings
$1,122
Median Rent
$172,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A postal tenant occupies the main floor, with two apartments above, each served by a private entrance.
Where is this mixed-use property located?
The property is located at 15 Railroad St Clinton, ME.
What is the asking price?
The asking price for this property is $447,500.
What are key features of this property?
This property features: 3,952‑square‑foot mixed‑use building; United States Post Office occupies the main floor under a government lease with ten years remaining; Two apartments on the second floor, each with a private entrance
