19 Moose Run Drive, Monmouth, ME 04259

Building Details

Building Size 6,754 SF More

Year Built 1899 More

Listing Agency: McAllister Real Estate k***@myfairpoint.net

Listed By: Katie McAllister Show Phone

Source: Integrityhomesrealestategroup

Added: Sep 19, 2024 Changed: Nov 11 Last Checked: Nov 13 at 6:40PM

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Investment Insights

Based on property information with market context.

Set on 12.7 acres of fields and woodland, this equestrian property includes a 26-stall barn with veterinary quarters and a second story that formerly stored hay. The main residence has six ensuite bedrooms, two additional bedrooms sharing a bathroom, two dining rooms, two family rooms, and a library with a half bath. Additional accommodations include a two-bedroom carriage house and a two-bedroom apartment. A licensed caterer’s kitchen, walk-in pantry, and stone patio sized for 90 people support the property’s former bed-and-breakfast and event uses. Each building has laundry facilities, and the property is described as wheelchair accessible and ADA compliant.

The grounds include deeded access to waterfront on Cobbossee Lake. The residence dates to 1899, and the property is zoned RES. Reported architectural and interior details include pumpkin pine floors sourced from the property, marble fireplaces, and hand-painted tiles by Andrew Wyeth surrounding a fireplace.

Key Highlights

• 12.7 acres of fields and woodland with deeded access to Cobbossee Lake waterfront
• 26‑stall horse barn includes veterinary quarters and an upper story
• Main residence has 6 ensuite bedrooms and 2 additional bedrooms with a shared bath

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,904

Cap Rate

3.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$818,080 $818.1K

Cap Rate 7%

$584,343 $584.3K

Cap Rate 9%

$454,489 $454.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,754 SF

Gross rent

$101.3K $15.00/SF

− Vacancy

−$15.2K −$2.25/SF

EGI

$86.1K $12.75/SF

− OpEx

−$45.2K −$6.69/SF

NOI

$40.9K $6.06/SF

Area

Kennebec County, ME

Vacancy

15.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

52.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$818,080

Cap Rate 7%

$584,343

Cap Rate 9%

$454,489

Alternative Uses

Best Use

Hotel Hospitality

$584.3K

$511.3K – $681.7K (±1% cap)

NOI $40,904 @ 7.0% cap · market cap 3.03%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.92M

$1.68M – $2.24M (±1% cap)

NOI $134,371 @ 7.0% cap · market cap 9.95%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Triple H Maine Production Facility

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Bar & Pub

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

8

Businesses Nearby

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Demographics for 04259, ME

3,179

Population

1,890

Households

1.7

Avg Household Size

47

Median Age

36%

College-Educated

97%

High-School Grad

29.0 sq mi

ZIP Area

110

Density / Sq Mi

$94,868

Median Household Income

$38,789

Median Earnings

$1,192

Median Rent

$282,300

Median Home Value

Frequently Asked Questions

What type of property is this?

Horse & equestrian property - A multi-building property combines residential accommodations, event spaces, and equestrian facilities on a substantial rural parcel.

Where is this horse & equestrian property located?

The property is located at 19 Moose Run Drive Monmouth, ME.

What is the asking price?

The asking price for this property is $1,350,000.

What are key features of this property?

This property features: 12.7 acres of fields and woodland with deeded access to Cobbossee Lake waterfront; 26‑stall horse barn includes veterinary quarters and an upper story; Main residence has 6 ensuite bedrooms and 2 additional bedrooms with a shared bath