Fully Leased Medical Rehabilitation
For Sale
$355,000
154 Main Street, Bridgton, ME 04009
For-sale leased medical rehabilitation facility occupied through December 2029 under a modified gross structure.
Property Size1,995 SF
Price / SF$177.94
Days on Market69
Property Features for 154 Main Street
General Information
Standard status
Active
Size
1,995 SF
Property subtype
Office
Occupancy
100%
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$4,096
Amenities
Heat Pump
3
Parking.
Paved Driveway, On Street, Off Street.
0.23
Building Details
Year Built
2007
Tenancy
Single
Listing Agency:
Keller Williams Coastal and Lakes & Mountains Realty
(207) 329-3429
Listed By:
Lisa Church
(207) 329-3429
Source:
Xome
Added: Jun 4
Changed: Aug 8
Last Checked: Aug 11 at 5:49AM
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 Keller Williams Coastal and Lakes & Mountains Realty
Investment Insights
Based on property information with market context.
This for-sale medical rehabilitation and outpatient physical therapy property is fully occupied, with Saco Bay Orthopedic & Sports Physical Therapy operating the entire building. The offering is structured as a Modified Gross lease, extended through December 2029, and the lease includes cost of living increases.
Located at 154 Main Street in Bridgton, Maine, the property sits on the community’s primary commercial corridor and is positioned on Main Street across from Renys. The surrounding area serves both year-round residents and seasonal visitors, supporting a mix of retail, service, and professional businesses.
For investors seeking a leased healthcare asset, the long-term occupancy by an established outpatient rehabilitation network provides a straightforward tenant-backed platform. With contractual lease extension through 2029 and cost of living increases built into the lease terms, the property is designed for investors looking for dependable income characteristics tied to a single, end-to-end healthcare operator. The seller is also offering a second property leased to the same tenant, creating the opportunity to acquire multiple assets backed by Saco Bay Orthopedic & Sports Physical Therapy.
Located at 154 Main Street in Bridgton, Maine, the property sits on the community’s primary commercial corridor and is positioned on Main Street across from Renys. The surrounding area serves both year-round residents and seasonal visitors, supporting a mix of retail, service, and professional businesses.
For investors seeking a leased healthcare asset, the long-term occupancy by an established outpatient rehabilitation network provides a straightforward tenant-backed platform. With contractual lease extension through 2029 and cost of living increases built into the lease terms, the property is designed for investors looking for dependable income characteristics tied to a single, end-to-end healthcare operator. The seller is also offering a second property leased to the same tenant, creating the opportunity to acquire multiple assets backed by Saco Bay Orthopedic & Sports Physical Therapy.
Key Highlights
- Commercial medical rehabilitation facility built in 2007.
- Fully occupied by Saco Bay Orthopedic & Sports Physical Therapy under a modified gross lease.
- Lease extends through December 2029.
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
—
—
no second resolved use
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
Turnkey business
Opportunity
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Rehabilitation center - For-sale leased medical rehabilitation facility occupied through December 2029 under a modified gross structure.
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: Commercial medical rehabilitation facility built in 2007.; Fully occupied by Saco Bay Orthopedic & Sports Physical Therapy under a modified gross lease.; Lease extends through December 2029.
