34-Bed Assisted Living
For Sale
$1,800,000
270 Maine Avenue, Farmingdale, ME 04344
The sale includes the care business, its equipment, and the underlying real estate.
Property Size10,000 SF
Price / SF$180
Days on Market1225
Property Features for 270 Maine Avenue
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Business Included
Yes
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$15,619
Amenities
gazebo
Building Details
Building Size
10,000 SF
Year Built
1872
Listing Agency:
Sprague & Curtis Real Estate
(207) 623-1123
Listed By:
James Pepin
(207) 242-3015
Source:
Amerorealty
Added: Jun 26, 2023
Changed: Oct 31
Last Checked: Oct 31 at 2:32PM
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 Sprague & Curtis Real Estate
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Investment Insights
Based on property information with market context.
This 10,000-square-foot assisted living facility is licensed for 34 beds, with the business, equipment, and real estate included. The building dates to 1872 and has received recent updates. Resident areas include spacious rooms and amenities, and trained staff are in place. Paved parking serves the property, with a gazebo outdoors.
The facility is near the Kennebec Rail Trail and offers a view of the river. Commercial zoning is in place.
The facility is near the Kennebec Rail Trail and offers a view of the river. Commercial zoning is in place.
Key Highlights
- Licensed for 34 beds
- 10,000 square feet; built in 1872
- Sale includes the operating business, equipment, and real estate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$97,416
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,948,320
$1.9M
Cap Rate 7%
$1,391,657
$1.4M
Cap Rate 9%
$1,082,400
$1.1M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$180.0K $18.00/SF
− Vacancy
−$2.9K −$0.29/SF
EGI
$177.1K $17.71/SF
− OpEx
−$79.7K −$7.97/SF
NOI
$97.4K $9.74/SF
Area
Kennebec County, ME
Vacancy
1.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,948,320
Cap Rate 7%
$1,391,657
Cap Rate 9%
$1,082,400
Alternative Uses
Best Use
Apartment 5plus
$1.39M
$1.22M – $1.62M
NOI $97,416 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$14.92M
$13.05M – $17.41M
NOI $1,044,332 @ 7.0% cap · market cap 58.02%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
155
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 04344, ME
2,995
Population
1,481
Households
2
Avg Household Size
44
Median Age
40%
College-Educated
95%
High-School Grad
11.2 sq mi
ZIP Area
267
Density / Sq Mi
$60,000
Median Household Income
$34,688
Median Earnings
$928
Median Rent
$205,700
Median Home Value
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Similar Off Market Nearby
- Riverview Farm — Gardiner, ME 04345
- Captain Lewis Residence — 270 Maine Ave, Farmingdale, ME 04344
Frequently Asked Questions
What type of property is this?
Assisted living facility - The sale includes the care business, its equipment, and the underlying real estate.
Where is this assisted living facility located?
The property is located at 270 Maine Avenue Farmingdale, ME.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Licensed for 34 beds; 10,000 square feet; built in 1872; Sale includes the operating business, equipment, and real estate
