Mixed-Use Building with
New
For Sale
$447,500
15 Railroad Street, Clinton, ME 04927
Multi-Family, Clinton, ME
Property Size3,952 SF
Lot Size0.50 Acres
Price / SF$113.23
Days on Market2
Property Features for 15 Railroad Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1
Interior features
Storage
Basement
Walk-Out Access, Full, Sump Pump, Dirt Floor, Unfinished
Accessibility
Accessible Approach with Ramp
Lot features
Open, Corner Lot, Level, Sidewalks, Near Shopping
Standard status
Active
Size
3,952 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4469
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard, Oil
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1964
Number of units
2
Flooring type
Wood, Linoleum, Tile, Heavy duty
Building materials
Masonry, Brick
Roof type
Rolled Hot Mop
Additional Structures
Storage
Listing Agency:
Whittemore's Real Estate
(207) 474-3303
Listed By:
Amy Noble
(207) 431-4869
Added: Oct 22
Last Checked: Oct 23 at 1:06PM
MLS# 1685226
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 3,952-square-foot mixed-use property combines a ground-floor U.S. Post Office with two apartments on the second floor. Each apartment has a separate entrance. The building was constructed in 1964 and features brick masonry, with storage space and a ramp-accessible approach. Heating is provided by an oil-fired hot water and baseboard system, and window units provide cooling.
The property occupies a 0.5-acre lot in downtown Clinton, with public water and public sewer service. Commercial zoning is in place. The Post Office occupies the main level under a government lease with a ten-year term, while the two upper-level apartments provide additional residential space.
The property occupies a 0.5-acre lot in downtown Clinton, with public water and public sewer service. Commercial zoning is in place. The Post Office occupies the main level under a government lease with a ten-year term, while the two upper-level apartments provide additional residential space.
Key Highlights
- 3,952‑square‑foot mixed‑use building on a 0.5‑acre lot
- Ground‑floor U.S. Post Office with a government lease extending for ten years
- Two second‑floor apartments, 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
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
74
Businesses Nearby
Explore this area
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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Frequently Asked Questions
What type of property is this?
Mixed-use property - A U.S. Post Office occupies the main level under a government lease extending for ten years.
Where is this mixed-use property located?
The property is located at 15 Railroad Street 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 on a 0.5‑acre lot; Ground‑floor U.S. Post Office with a government lease extending for ten years; Two second‑floor apartments, each with a private entrance
