Leased Medical Office
2 Medical Center Dr Office Units 5 & 6, Biddeford, ME 04005
For Sale
Contact for pricing
A national tenant occupies the space under a lease with more than nine years remaining.
Property Size2,240 SF
Price / SF$531.25
Days on Market41
Property Features for 2 Medical Center Dr Office Units 5 & 6
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Office Units
Tenant in Place
Property Use
Medical Specialty
Building Details
Tenancy
Owner Occupied
Listing Agency:
Bang Realty
Listed By:
Brian Brockman · License ME #701472
(859) 581-1113
Source:
Crexi
Added: Oct 1
Changed: Nov 8
Last Checked: Nov 8 at 5:42PM
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 Bang Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This medical office condominium comprises 2,240 square feet and is fully leased to a national tenant. The lease has more than nine years remaining.
The property is at 2 Medical Center Dr, Office Units 5 & 6, in Biddeford, Maine.
The property is at 2 Medical Center Dr, Office Units 5 & 6, in Biddeford, Maine.
Key Highlights
- 2,240‑square‑foot medical office condominium
- Fully leased to a national tenant
- More than 9 years of lease term remaining
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,691
Cap Rate
3.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$733,820
$733.8K
Cap Rate 7%
$524,157
$524.2K
Cap Rate 9%
$407,678
$407.7K
Market Conditions
NOI Build-Up for 2,240 SF
Gross rent
$55.9K $24.96/SF
− Vacancy
−$7.0K −$3.12/SF
EGI
$48.9K $21.84/SF
− OpEx
−$12.2K −$5.46/SF
NOI
$36.7K $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 Rate 5%
$733,820
Cap Rate 7%
$524,157
Cap Rate 9%
$407,678
Alternative Uses
Best Use
Office B
$524.2K
$458.6K – $611.5K
NOI $36,691 @ 7.0% cap · market cap 3.08%
Second Best
Healthcare Medical
$433.5K
$379.3K – $505.7K
NOI $30,343 @ 7.0% cap · market cap 2.55%
Theoretical Best
Office A
$710.1K
$621.3K – $828.4K
NOI $49,705 @ 7.0% cap · market cap 4.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Office units
100%
Occupancy
Single-tenant
Tenancy
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
Similar Off Market Nearby
- Biddeford Animal Hospital — 556 Elm St, Biddeford, ME 04005
- Haven Veterinary Hospice & Senior Care — 6 Pomerleau St, Biddeford, ME 04005
Frequently Asked Questions
What type of property is this?
Medical Office Space - A national tenant occupies the space under a lease with more than nine years remaining.
Where is this medical office space located?
The property is located at 2 Medical Center Dr Office Units 5 & 6 Biddeford, ME.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: 2,240‑square‑foot medical office condominium; Fully leased to a national tenant; More than 9 years of lease term remaining
