Renovated Office
16 Depot Street, Windham, ME 04062
For Sale
$350,000
Seven private work areas, two bathrooms, an updated kitchen and a rear meeting room support a range of office configurations.
Property Size2,136 SF
Price / SF$163.86
Days on Market864
Property Features for 16 Depot Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Condition
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
updated kitchen
gathering room/meeting room or flex space
towering stone fireplace
wide plank floors
large windows
ADA compliant bathroom
Building Details
Building Size
Year Built
Listing Agency:
Dream Home Realty LLC
(207) 300-4663
Listed By:
Lisa Andrade
(207) 239-2220
Source:
Integrityhomesrealestategroup
Added: Jul 1, 2024
Changed: Nov 11
Last Checked: Nov 11 at 2:10AM
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 Dream Home Realty LLC
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Investment Insights
Based on property information with market context.
This 2,136-square-foot office condominium was built in 1950 and has been renovated. Its interior includes seven office spaces, two bathrooms, and an updated kitchen. One bathroom is plumbed for a shower, while the other is ADA compliant. A separate rear room offers meeting or flexible space, with a stone fireplace, wide-plank flooring, and large windows.
The property is at 16 Depot Street in Windham, Maine, around the corner from Main Street and the Sebago to Sea Trail. It is zoned VC.
The property is at 16 Depot Street in Windham, Maine, around the corner from Main Street and the Sebago to Sea Trail. It is zoned VC.
Key Highlights
- 2,136 square feet of office space
- Seven office spaces and two bathrooms, including one ADA‑compliant bathroom
- Rear meeting or flex room with stone fireplace, wide‑plank floors and large windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,579
Cap Rate
8.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$611,580
$611.6K
Cap Rate 7%
$436,843
$436.8K
Cap Rate 9%
$339,767
$339.8K
Market Conditions
NOI Build-Up for 2,136 SF
Gross rent
$46.7K $21.84/SF
− Vacancy
−$5.9K −$2.75/SF
EGI
$40.8K $19.09/SF
− OpEx
−$10.2K −$4.77/SF
NOI
$30.6K $14.32/SF
Area
Cumberland County, ME
Vacancy
12.60%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$611,580
Cap Rate 7%
$436,843
Cap Rate 9%
$339,767
Alternative Uses
Best Use
Office B
$436.8K
$382.2K – $509.7K
NOI $30,579 @ 7.0% cap · market cap 8.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$587.1K
$513.7K – $684.9K
NOI $41,096 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
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Business Placement
Demographics for 04062, ME
18,464
Population
8,695
Households
2.1
Avg Household Size
42
Median Age
42%
College-Educated
98%
High-School Grad
46.7 sq mi
ZIP Area
395
Density / Sq Mi
$98,946
Median Household Income
$57,505
Median Earnings
$1,189
Median Rent
$370,900
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Cumberland County, ME
Properties on Market for Office Units in Cumberland County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Seven private work areas, two bathrooms, an updated kitchen and a rear meeting room support a range of office configurations.
Where is this office unit located?
The property is located at 16 Depot Street Windham, ME.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,136 square feet of office space; Seven office spaces and two bathrooms, including one ADA‑compliant bathroom; Rear meeting or flex room with stone fireplace, wide‑plank floors and large windows
