Mixed-Use Building with
15 School St Freeport, ME 04032
For Sale
Contact for pricing
Commercial building offers main-level retail or office space and a two-bedroom apartment above, with shared rear parking.
Property Size2,083 SF
Price / SF$312.05
Days on Market189
Property Features for 15 School St
General Information
- Standard status
- Active
- Size
- 2,083 SF
- Property subtype
- RETAIL
Listing Agency:
Malone Commercial Brokers
(207) 772-2422
Listed By:
Mark Malone · License #911380
(207) 772-2422
Source:
Moodyscre
Added: Jan 16
Changed: Jul 23
Last Checked: Jul 23 at 4:20PM
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 Malone Commercial Brokers
Investment Insights
Based on property information with market context.
This mixed-use building includes main-level retail or office space and a second-level two-bedroom apartment. The property is configured for combined commercial and residential use, with the apartment providing the opportunity for owner-occupancy.
Situated in the heart of Freeport, the building is steps from the area’s downtown retail, dining, and amenities. Shared parking is available in the rear of the building.
Overall, the asset presents a straightforward setup for buyers seeking a commercial storefront presence with residential space on the upper level.
Situated in the heart of Freeport, the building is steps from the area’s downtown retail, dining, and amenities. Shared parking is available in the rear of the building.
Overall, the asset presents a straightforward setup for buyers seeking a commercial storefront presence with residential space on the upper level.
Key Highlights
- 2,083± SF commercial building with main‑level retail/office space and a two‑bedroom apartment on the second level
- Main level offers retail or office space with high visibility in the heart of Freeport
- Second‑level apartment is spacious with two bedrooms, offering potential owner‑occupancy
Financial Insights For Mixed Use
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 | $45.0k | $21.60 |
| − Vacancy | −$3.6k | −$1.73 |
| EGI | $41.4k | $19.87 |
| − OpEx | −$15.5k | −$7.45 |
| NOI | $25.9k | $12.42 |
2,083 SF · lease $21.60/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$369.6K
$323.4K – $431.2K
NOI $25,871 @ 7.0% cap · market cap 3.98%
Second Best
Retail
$311.2K
$272.3K – $363.1K
NOI $21,784 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$572.5K
$501.0K – $667.9K
NOI $40,076 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Besties SPA
Alternative Medicine Practice
FAQs
What type of property is this?
Mixed-use property - Commercial building offers main-level retail or office space and a two-bedroom apartment above, with shared rear parking.
Where is this mixed-use property located?
The property is located at 15 School St Freeport, ME.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,083± SF commercial building with main‑level retail/office space and a two‑bedroom apartment on the second level; Main level offers retail or office space with high visibility in the heart of Freeport; Second‑level apartment is spacious with two bedrooms, offering potential owner‑occupancy
