Historic Mixed-Use Property with
For Sale
$227,000
2 Rome Road, Rome, ME 04963
Reconstructed commercial building with office, retail, workshop, and studio areas at a prominent Route 27 and Route 225 intersection.
Property Size1,864 SF
Price / SF$121.78
Days on Market151
Property Features for 2 Rome Road
General Information
Standard status
Active
Size
1,864 SF
Property subtype
Commercial
Lease Term
[]
Additional Details
Road Access
Yes
Building Details
Year Built
1900
Year Renovated
2021
Buildings
1
Listing Agency:
Portside Real Estate Group
(207) 215-9805
Listed By:
Linda Schultz
(207) 215-9805
Source:
Portsiderealestategroup
Added: Apr 2
Changed: Aug 29
Last Checked: Aug 30 at 5:52PM
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 Portside Real Estate Group
Investment Insights
Based on property information with market context.
This mixed-use commercial property combines an early-1900s structure with substantial reconstruction completed in 2021. The building includes a walk-out basement with added steel beam support and a functional ground floor featuring a 10-by-7 office, small workshop, 6-by-8 bonus room, 30-by-43 retail area, and utility room. The main floor adds two 10-by-12 offices, an 8.5-by-10 entryway, and an oversized 32-by-44 studio.
The studio receives natural light through 9 new 58-by-32-inch windows and includes new LED lighting, a refinished cedar floor, and added ceiling insulation. The property also has updated wiring, LED lighting throughout, a new heating system, and a chimney. It sits at the intersection of Route 27 and Route 225 in Rome, a few minutes from Belgrade Lakes Village.
The studio receives natural light through 9 new 58-by-32-inch windows and includes new LED lighting, a refinished cedar floor, and added ceiling insulation. The property also has updated wiring, LED lighting throughout, a new heating system, and a chimney. It sits at the intersection of Route 27 and Route 225 in Rome, a few minutes from Belgrade Lakes Village.
Key Highlights
- Mixed‑use building at the Route 27 and Route 225 intersection in Rome, ME
- Originally built in 1900 with major reconstruction completed in 2021
- 30x43 retail space, two 10x12 offices, workshop, and 32x44 studio
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
$19,229
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
8.47%
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%
$384,580
$384.6K
Cap Rate 7%
$274,700
$274.7K
Cap Rate 9%
$213,656
$213.7K
Market Conditions
NOI Build-Up for 1,864 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
$33.6K $18.00/SF
− Vacancy
−$2.8K −$1.49/SF
EGI
$30.8K $16.51/SF
− OpEx
−$11.5K −$6.19/SF
NOI
$19.2K $10.32/SF
Area
Kennebec County, ME
Vacancy
8.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$384,580
Cap Rate 7%
$274,700
Cap Rate 9%
$213,656
Alternative Uses
Best Use
Office B
$376.4K
$329.4K – $439.2K
NOI $26,350 @ 7.0% cap · market cap 11.61%
Second Best
Mixed Use
$274.7K
$240.4K – $320.5K
NOI $19,229 @ 7.0% cap · market cap 8.47%
Theoretical Best
Warehouse
$2.78M
$2.43M – $3.24M
NOI $194,664 @ 7.0% cap · market cap 85.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 04963, ME
7,358
Population
4,279
Households
1.7
Avg Household Size
45
Median Age
24%
College-Educated
95%
High-School Grad
51.1 sq mi
ZIP Area
144
Density / Sq Mi
$73,611
Median Household Income
$49,913
Median Earnings
$885
Median Rent
$228,200
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?
Mixed-use property - Reconstructed commercial building with office, retail, workshop, and studio areas at a prominent Route 27 and Route 225 intersection.
Where is this mixed-use property located?
The property is located at 2 Rome Road Rome, ME.
What is the asking price?
The asking price for this property is $227,000.
What are key features of this property?
This property features: Mixed‑use building at the Route 27 and Route 225 intersection in Rome, ME; Originally built in 1900 with major reconstruction completed in 2021; 30x43 retail space, two 10x12 offices, workshop, and 32x44 studio
