Freestanding Office
For Sale
$945,000
183 Port Road, Kennebunk, ME 04043
Office property with conference space, bullpen area, on-site parking, and LVB zoning.
Property Size2,578 SF
Days on Market1021
Property Features for 183 Port Road
General Information
Standard status
Active
Size
2,578 SF
Property subtype
Commercial
Zoning
LVB
Taxes and HOA fees
Annual Taxes
$6,529
Amenities
conference room
bullpen space
on-site parking
Building Details
Building Size
2,578 SF
Year Built
1880
Buildings
1
Listing Agency:
The Boulos Company
(207) 553-1728
Listed By:
Christopher Gallagher
(207) 553-1728
Source:
Startpoint
Added: Nov 3, 2023
Changed: Aug 15
Last Checked: Aug 17 at 10:08PM
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 The Boulos Company
Investment Insights
Based on property information with market context.
This freestanding office building at 183 Port Road in Kennebunk includes multiple office areas, a conference room, and bullpen space. The property also offers on-site parking and a configuration that includes both office and retail characteristics.
Constructed in 1880, the building is located in Kennebunk, Maine, and carries LVB zoning. Its existing mix of private work areas, shared bullpen space, and meeting facilities provides a defined commercial layout for office operations.
Constructed in 1880, the building is located in Kennebunk, Maine, and carries LVB zoning. Its existing mix of private work areas, shared bullpen space, and meeting facilities provides a defined commercial layout for office operations.
Key Highlights
- Freestanding office building at 183 Port Road, Kennebunk, ME 04043
- Built in 1880
- Office layout includes a conference room and bullpen space
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
$42,228
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
4.47%
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%
$844,560
$844.6K
Cap Rate 7%
$603,257
$603.3K
Cap Rate 9%
$469,200
$469.2K
Market Conditions
NOI Build-Up for 2,578 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
$64.3K $24.96/SF
− Vacancy
−$8.0K −$3.12/SF
EGI
$56.3K $21.84/SF
− OpEx
−$14.1K −$5.46/SF
NOI
$42.2K $16.38/SF
Area
York County, ME
Vacancy
12.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$844,560
Cap Rate 7%
$603,257
Cap Rate 9%
$469,200
Alternative Uses
Best Use
Office B
$603.3K
$527.9K – $703.8K
NOI $42,228 @ 7.0% cap · market cap 4.47%
Second Best
Retail
$447.2K
$391.3K – $521.8K
NOI $31,307 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$817.2K
$715.1K – $953.4K
NOI $57,205 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
532
Businesses Nearby
Explore this area
Business Placement
Demographics for 04043, ME
11,536
Population
6,243
Households
1.8
Avg Household Size
52
Median Age
50%
College-Educated
97%
High-School Grad
35.1 sq mi
ZIP Area
329
Density / Sq Mi
$101,204
Median Household Income
$53,283
Median Earnings
$1,405
Median Rent
$460,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office property with conference space, bullpen area, on-site parking, and LVB zoning.
Where is this office building located?
The property is located at 183 Port Road Kennebunk, ME.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: Freestanding office building at 183 Port Road, Kennebunk, ME 04043; Built in 1880; Office layout includes a conference room and bullpen space
