Mixed-Use Property with Convenience
For Sale
$339,900
2 Johnson Mill Road, Orrington, ME 04474
A three-bedroom upper-level apartment adds a residential component to the commercial space.
Property Size2,340 SF
Price / SF$145.26
Days on Market896
Property Features for 2 Johnson Mill Road
General Information
Standard status
Active
Size
2,340 SF
Property subtype
Commercial
Zoning
LDR
Taxes and HOA fees
Annual Taxes
$3,161
Building Details
Building Size
2,340 SF
Year Built
1950
Buildings
1
Stories
2
Listing Agency:
Realty of Maine
(207) 942-6310
Listed By:
Patricia Largay
(207) 949-3060
Source:
Amerorealty
Added: May 20, 2024
Changed: Oct 31
Last Checked: Oct 31 at 2:34PM
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 Realty of Maine
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Investment Insights
Based on property information with market context.
This 2,340-square-foot mixed-use property in Orrington combines a convenience store with a second-floor, three-bedroom apartment. Store features include coolers, shelving, ventilation, a kitchen area, and an ice cream service window. The building dates to 1950, and the apartment was renovated in 2022.
The property is located at 2 Johnson Mill Road and includes a stream and picnic area. Zoning is LDR.
The property is located at 2 Johnson Mill Road and includes a stream and picnic area. Zoning is LDR.
Key Highlights
- 2,340‑square‑foot mixed‑use property
- Convenience store with coolers, shelving, ventilation, kitchen area, and ice cream window
- Second‑floor apartment with 3 bedrooms, renovated in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,577
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$391,540
$391.5K
Cap Rate 7%
$279,671
$279.7K
Cap Rate 9%
$217,522
$217.5K
Market Conditions
NOI Build-Up for 2,340 SF
Gross rent
$33.7K $14.40/SF
− Vacancy
−$5.7K −$2.45/SF
EGI
$28.0K $11.95/SF
− OpEx
−$8.4K −$3.59/SF
NOI
$19.6K $8.37/SF
Area
Penobscot County, ME
Vacancy
17.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$391,540
Cap Rate 7%
$279,671
Cap Rate 9%
$217,522
Alternative Uses
Best Use
Specialty Retail
$455.4K
$398.5K – $531.3K
NOI $31,877 @ 7.0% cap · market cap 9.38%
Second Best
Retail
$279.7K
$244.7K – $326.3K
NOI $19,577 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$755.8K
$661.3K – $881.7K
NOI $52,903 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
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Business Placement
Demographics for 04474, ME
3,812
Population
1,739
Households
2.2
Avg Household Size
47
Median Age
40%
College-Educated
98%
High-School Grad
25.0 sq mi
ZIP Area
152
Density / Sq Mi
$92,583
Median Household Income
$53,571
Median Earnings
$1,072
Median Rent
$239,200
Median Home Value
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A three-bedroom upper-level apartment adds a residential component to the commercial space.
Where is this mixed-use property located?
The property is located at 2 Johnson Mill Road Orrington, ME.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: 2,340‑square‑foot mixed‑use property; Convenience store with coolers, shelving, ventilation, kitchen area, and ice cream window; Second‑floor apartment with 3 bedrooms, renovated in 2022
