Office Building with Laboratory
For Sale
Under Contract
$1,499,000
19 Levesque Drive, Eliot, ME 03903
Commercial Sale, Eliot, ME
Property Size3,420 SF
Lot Size3.60 Acres
Price / SF$438.30
Days on Market108
Property Features for 19 Levesque Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C/I
Parking features
Off Street
Accessibility
Accessible Approach with Ramp
Lot features
Near Shopping, Curbing, Landscaped, Level
Directions
GPS friendly - Sign on property
Standard status
Active Under Contract
Lot size
3.60 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5312
Utilities
Utilities
Cable Available
Heating system
Electric (Heating), Baseboard
Cooling system
Central Air
Water source
Public
Building Details
Year built
1985
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
KW Coastal and Lakes & Mountains Realty/Dover · Keller Williams Realty
(603) 969-6632
Listed By:
Darlene Colwell-Ellis · License #042783
(603) 610-8500
Added: May 7
Changed: Aug 20
Last Checked: Aug 22 at 11:06PM
MLS# 5087631
Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office building in Eliot Commons Professional Park is configured as an analytical laboratory with professional office space and specialized scientific infrastructure. Existing equipment includes Waters ACQUITY UPLC systems, a Waters Xevo TQ-XS LC/MS/MS, Agilent ICP-MS and GC/MSD systems, a headspace sampler, autosamplers, and professional fume hood systems. The improvements include a wood-frame structure with vinyl siding, electric baseboard heat, central air, shingle roofing, and an accessible approach with ramp.
The property encompasses 3.6 acres at 19 Levesque Drive in Eliot, Maine. It carries C/I zoning and is served by public water, with cable available. Off-street parking is provided. Built in 1985, the building offers an established setting for laboratory and professional office operations.
The property encompasses 3.6 acres at 19 Levesque Drive in Eliot, Maine. It carries C/I zoning and is served by public water, with cable available. Off-street parking is provided. Built in 1985, the building offers an established setting for laboratory and professional office operations.
Key Highlights
- Analytical laboratory and professional office configuration
- Specialized Waters and Agilent laboratory equipment in place
- 3.6 acres at 19 Levesque Drive, Eliot, ME 03903
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
$56,020
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
3.74%
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%
$1,120,400
$1.1M
Cap Rate 7%
$800,286
$800.3K
Cap Rate 9%
$622,444
$622.4K
Market Conditions
NOI Build-Up for 3,420 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
$85.4K $24.96/SF
− Vacancy
−$10.7K −$3.12/SF
EGI
$74.7K $21.84/SF
− OpEx
−$18.7K −$5.46/SF
NOI
$56.0K $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%
$1,120,400
Cap Rate 7%
$800,286
Cap Rate 9%
$622,444
Alternative Uses
Best Use
Office B
$800.3K
$700.3K – $933.7K
NOI $56,020 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$948.6K – $1.26M
NOI $75,889 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
184
Businesses Nearby
Explore this area
Business Placement
Demographics for 03903, ME
6,717
Population
3,092
Households
2.2
Avg Household Size
48
Median Age
41%
College-Educated
100%
High-School Grad
19.8 sq mi
ZIP Area
339
Density / Sq Mi
$100,472
Median Household Income
$44,375
Median Earnings
$1,837
Median Rent
$465,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Configured analytical laboratory and professional office property with specialized equipment, central air, and off-street parking.
Where is this office building located?
The property is located at 19 Levesque Drive Eliot, ME.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Analytical laboratory and professional office configuration; Specialized Waters and Agilent laboratory equipment in place; 3.6 acres at 19 Levesque Drive, Eliot, ME 03903
