Single-Story Medical Office
For Sale
$250,000
2 Medical Center Unit 3, Biddeford, ME 04005
Unit 3 features a patient-facing waiting room, exam room, and private doctor’s office within a medical office condo.
Property Size1,088 SF
Price / SF$229.78
Days on Market107
Property Features for 2 Medical Center Unit 3
General Information
Standard status
Active
Size
1,088 SF
Property subtype
Commercial
Building Details
Year Built
1984
Stories
1
Listing Agency:
The Dunham Group
Listed By:
Bryan Plourde · License #SA927310
(207) 650-5122
Source:
Greatislandrealty
Added: May 21
Changed: Sep 3
Last Checked: Sep 4 at 9:35AM
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 Dunham Group
Investment Insights
Based on property information with market context.
Unit 3 at 2 Medical Center Drive is a single-story medical office condo offering a practical healthcare layout. The suite includes a welcoming front waiting room with warm natural light, a large exam room, and a private doctor’s office. Additional interior space includes a large reception area, a supply room with sink, a restroom within the suite, and a rear storage area.
The property is adjacent to SMHC Hospital, supporting an established healthcare setting. The site provides strong visibility and convenient access to Route 111 and the Maine Turnpike.
For providers seeking an easily functional space, the combination of reception, an exam room, and dedicated private office supports day-to-day clinical flow. The on-suite restroom and rear storage area help keep patient areas organized, while the supply room with sink is suited to routine care operations. The condo format also offers a defined suite for a medical practice looking for a streamlined footprint.
The property is adjacent to SMHC Hospital, supporting an established healthcare setting. The site provides strong visibility and convenient access to Route 111 and the Maine Turnpike.
For providers seeking an easily functional space, the combination of reception, an exam room, and dedicated private office supports day-to-day clinical flow. The on-suite restroom and rear storage area help keep patient areas organized, while the supply room with sink is suited to routine care operations. The condo format also offers a defined suite for a medical practice looking for a streamlined footprint.
Key Highlights
- Medical office condo Unit 3 at 2 Medical Center Drive, built in 1984
- Single‑story suite with a patient‑facing front waiting room and large reception area
- Includes a large exam room and a private doctor’s office
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
$17,821
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
7.13%
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%
$356,420
$356.4K
Cap Rate 7%
$254,586
$254.6K
Cap Rate 9%
$198,011
$198.0K
Market Conditions
NOI Build-Up for 1,088 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
$27.2K $24.96/SF
− Vacancy
−$3.4K −$3.12/SF
EGI
$23.8K $21.84/SF
− OpEx
−$5.9K −$5.46/SF
NOI
$17.8K $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%
$356,420
Cap Rate 7%
$254,586
Cap Rate 9%
$198,011
Alternative Uses
Best Use
Office B
$254.6K
$222.8K – $297.0K
NOI $17,821 @ 7.0% cap · market cap 7.13%
Second Best
Healthcare Medical
$210.5K
$184.2K – $245.6K
NOI $14,738 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$344.9K
$301.8K – $402.4K
NOI $24,142 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
793
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Unit 3 features a patient-facing waiting room, exam room, and private doctor’s office within a medical office condo.
Where is this medical office space located?
The property is located at 2 Medical Center Unit 3 Biddeford, ME.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Medical office condo Unit 3 at 2 Medical Center Drive, built in 1984; Single‑story suite with a patient‑facing front waiting room and large reception area; Includes a large exam room and a private doctor’s office
