Rehabilitation Center Under Modified Gross
For Sale
$355,000
154 Main Street, Bridgton, ME 04009
COMMERCIAL - Bridgton, ME
Property Size1,995 SF
Lot Size0.23 Acres
Price / SF$177.94
Days on Market51
Property Features for 154 Main Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
DowntownVillageBiz1
Parking features
On Street, Off Street
Interior features
Storage
Accessibility
Accessible Approach with Ramp
Lot features
Downtown, Business District, Near Shopping
Standard status
Active
Size
1,995 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4096
HOA Fee
$350 Annually
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
2007
Number of units
1
Flooring type
Tile, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Keller Williams Coastal and Lakes & Mountains Realty · Keller Williams Realty
(603) 610-8500
Listed By:
Lisa Church
(207) 329-3429
Added: Jun 22
Changed: Aug 4
Last Checked: Aug 11 at 5:06PM
MLS# 1668442
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.
This rehabilitation center is fully occupied by Saco Bay Orthopedic & Sports Physical Therapy and is offered as a long-term healthcare investment. The tenant occupies the entire building under a Modified Gross lease that has been extended through December 2029.
The property is located at 154 Main Street in Bridgton, Maine, on Main Street across from Renys. Zoning is DowntownVillageBiz1, and the site covers 0.23 acres with a total building size of 1,995 square feet. On-site parking is available with both on-street and off-street options, and the property includes accessible approach with a ramp.
Built in 2007, the building features wood frame construction with vinyl siding and a shingle roof. Interior amenities include storage. Heating and cooling are provided by heat pump systems, with electric heating as listed. Utilities include public water and public sewer.
The property is located at 154 Main Street in Bridgton, Maine, on Main Street across from Renys. Zoning is DowntownVillageBiz1, and the site covers 0.23 acres with a total building size of 1,995 square feet. On-site parking is available with both on-street and off-street options, and the property includes accessible approach with a ramp.
Built in 2007, the building features wood frame construction with vinyl siding and a shingle roof. Interior amenities include storage. Heating and cooling are provided by heat pump systems, with electric heating as listed. Utilities include public water and public sewer.
Key Highlights
- Saco Bay Orthopedic & Sports Physical Therapy leases the entire building under Modified Gross terms through December 2029
- Fully occupied rehabilitation center with 1,995 square feet of building space
- 0.23‑acre site on Main Street in Bridgton, Maine, across from Renys
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,058
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$581,160
$581.2K
Cap Rate 7%
$415,114
$415.1K
Cap Rate 9%
$322,867
$322.9K
Market Conditions
NOI Build-Up for 1,995 SF
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.
Gross rent
$53.9K $27.00/SF
− Vacancy
−$5.4K −$2.72/SF
EGI
$48.4K $24.28/SF
− OpEx
−$19.4K −$9.71/SF
NOI
$29.1K $14.57/SF
Area
Cumberland County, ME
Vacancy
10.09%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$581,160
Cap Rate 7%
$415,114
Cap Rate 9%
$322,867
Alternative Uses
Best Use
Healthcare Medical
$415.1K
$363.2K – $484.3K
NOI $29,058 @ 7.0% cap · market cap 8.19%
Second Best
Office B
$408.0K
$357.0K – $476.0K
NOI $28,561 @ 7.0% cap · market cap 8.05%
Theoretical Best
Office A
$548.3K
$479.8K – $639.7K
NOI $38,383 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
407
Businesses Nearby
Explore this area
Business Placement
Demographics for 04009, ME
5,298
Population
4,580
Households
1.2
Avg Household Size
51
Median Age
32%
College-Educated
93%
High-School Grad
56.5 sq mi
ZIP Area
94
Density / Sq Mi
$86,386
Median Household Income
$48,737
Median Earnings
$1,196
Median Rent
$286,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Rehabilitation center - Fully occupied by Saco Bay Orthopedic & Sports Physical Therapy on a Modified Gross lease through December 2029.
Where is this rehabilitation center located?
The property is located at 154 Main Street Bridgton, ME.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Saco Bay Orthopedic & Sports Physical Therapy leases the entire building under Modified Gross terms through December 2029; Fully occupied rehabilitation center with 1,995 square feet of building space; 0.23‑acre site on Main Street in Bridgton, Maine, across from Renys
