Church Property With Detached
For Sale
$850,000
17 Union St, Hallowell, ME 04347
Three detached buildings combine worship, residential, and flexible live-work uses on one in-town parcel.
Property Size5,000 SF
Price / SF$170
Days on Market86
Property Features for 17 Union St
General Information
Standard status
Active
Size
5,000 SF
Building Details
Buildings
3
Listing Agency:
CORE
Listed By:
Charles Hippler IV · License #SA927061
(207) 744-3084
Source:
603luxury
Added: Jul 21
Changed: Oct 6
Last Checked: Oct 13 at 1:26AM
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 CORE
Investment Insights
Based on property information with market context.
This church property comprises three fully detached buildings on a single lot at 17 Union Street, with the Parsonage at 4 Franklin Street included in the sale. The main church offers an approximately 60-by-40-foot open interior with tall ceilings, original stained and rippled glass, and a layout suited to religious services, events, gallery use, or studio activities. Off-street parking is provided.
The Chapel is a single-level, one-bedroom residence that can serve as a rental, guest house, or short-term rental. The four-bedroom Parsonage includes 1.5 baths, a modern kitchen with concrete counters, wide pine flooring, and traditional trim. Improvements include new roofs, foundation and framing repairs, electrical updates, added insulation, and a dry basement. The property is minutes from Water Street in Hallowell, Maine.
The Chapel is a single-level, one-bedroom residence that can serve as a rental, guest house, or short-term rental. The four-bedroom Parsonage includes 1.5 baths, a modern kitchen with concrete counters, wide pine flooring, and traditional trim. Improvements include new roofs, foundation and framing repairs, electrical updates, added insulation, and a dry basement. The property is minutes from Water Street in Hallowell, Maine.
Key Highlights
- Three fully detached buildings included on one lot
- Main church measures approximately 60x40 feet with an open floor plan
- Original stained and rippled glass, high ceilings, and a dry basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,681
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,413,620
$1.4M
Cap Rate 7%
$1,009,729
$1.0M
Cap Rate 9%
$785,344
$785.3K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$108.0K $21.60/SF
− Vacancy
−$13.8K −$2.75/SF
EGI
$94.2K $18.85/SF
− OpEx
−$23.6K −$4.71/SF
NOI
$70.7K $14.14/SF
Area
Kennebec County, ME
Vacancy
12.74%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,413,620
Cap Rate 7%
$1,009,729
Cap Rate 9%
$785,344
Alternative Uses
Best Use
Office B
$1.01M
$883.5K – $1.18M
NOI $70,681 @ 7.0% cap · market cap 8.32%
Second Best
Mixed Use
$736.9K
$644.8K – $859.7K
NOI $51,581 @ 7.0% cap · market cap 6.07%
Theoretical Best
Warehouse
$7.46M
$6.53M – $8.70M
NOI $522,166 @ 7.0% cap · market cap 61.43%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
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Business Placement
Demographics for 04347, ME
2,570
Population
1,436
Households
1.8
Avg Household Size
51
Median Age
46%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
436
Density / Sq Mi
$58,811
Median Household Income
$37,027
Median Earnings
$830
Median Rent
$266,700
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Church & religious facility - Three detached buildings combine worship, residential, and flexible live-work uses on one in-town parcel.
Where is this church & religious facility located?
The property is located at 17 Union St Hallowell, ME.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Three fully detached buildings included on one lot; Main church measures approximately 60x40 feet with an open floor plan; Original stained and rippled glass, high ceilings, and a dry basement
