End-Unit Flex
For Sale
$425,000
2 Lincoln Avenue #8, Scarborough, ME 04074
An adaptable interior combines dedicated office and work areas with a broad central workspace.
Property Size2,000 SF
Price / SF$212.50
Days on Market903
Property Features for 2 Lincoln Avenue #8
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Commercial
Zoning
Commercial/ Ind
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$3,472
Building Details
Building Size
2,000 SF
Year Built
2004
Stories
1
Listing Agency:
Gardner Real Estate Group
(207) 427-3637
Listed By:
Edmund Gardner III
(207) 415-4493
Source:
Amerorealty
Added: May 13, 2024
Changed: Oct 31
Last Checked: Oct 31 at 2:42PM
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 Gardner Real Estate Group
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Investment Insights
Based on property information with market context.
This 2,000-square-foot flex condo was built in 2004 and is configured with two finished offices, three work rooms, a half bath, and an expansive open area. The space has 16-foot ceilings and a 12-foot service garage door. Heat pumps provide heating and cooling, with a gas-fired unit available for backup. The unit also includes a solar system and an EV charger.
Positioned at the end of a unit row in an industrial park just off Rt. 1, the property is zoned Commercial/Ind. Its mix of enclosed rooms and open interior space is complemented by the high ceiling and vehicle-access door.
Positioned at the end of a unit row in an industrial park just off Rt. 1, the property is zoned Commercial/Ind. Its mix of enclosed rooms and open interior space is complemented by the high ceiling and vehicle-access door.
Key Highlights
- 2,000‑square‑foot flex condominium built in 2004
- 16‑foot ceilings and a 12‑foot garage service door
- Interior includes two offices, three work rooms, a half bath, and open central space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,798
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$255,960
$256.0K
Cap Rate 7%
$182,829
$182.8K
Cap Rate 9%
$142,200
$142.2K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$19.0K $9.48/SF
− Vacancy
−$677 −$0.34/SF
EGI
$18.3K $9.14/SF
− OpEx
−$5.5K −$2.74/SF
NOI
$12.8K $6.40/SF
Area
Cumberland County, ME
Vacancy
3.57%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$255,960
Cap Rate 7%
$182,829
Cap Rate 9%
$142,200
Alternative Uses
Best Use
Industrial
$182.8K
$160.0K – $213.3K
NOI $12,798 @ 7.0% cap · market cap 3.01%
Second Best
Flex RnD
$171.7K
$150.2K – $200.3K
NOI $12,017 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$549.7K
$481.0K – $641.3K
NOI $38,479 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
288
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 04074, ME
21,952
Population
10,561
Households
2.1
Avg Household Size
46
Median Age
58%
College-Educated
99%
High-School Grad
47.6 sq mi
ZIP Area
461
Density / Sq Mi
$125,642
Median Household Income
$55,955
Median Earnings
$1,821
Median Rent
$502,700
Median Home Value
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - An adaptable interior combines dedicated office and work areas with a broad central workspace.
Where is this flex space located?
The property is located at 2 Lincoln Avenue #8 Scarborough, ME.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 2,000‑square‑foot flex condominium built in 2004; 16‑foot ceilings and a 12‑foot garage service door; Interior includes two offices, three work rooms, a half bath, and open central space
