Flex Space with
For Sale
$227,000
2 Rome Road, Rome, ME 04963
Commercial Sale, Rome, ME
Property Size1,864 SF
Lot Size0.11 Acres
Price / SF$121.78
Days on Market51
Property Features for 2 Rome Road
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Interior features
Storage
Basement
Full, Walk-Out Access, Daylight
Lot features
Near Shopping, Rural
Standard status
Active
Size
1,864 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1262
Utilities
Heating system
Forced Air, Oil
Building Details
Year built
1900
Flooring type
Wood, Concrete
Building materials
Steel Frame, Wood Frame, Clapboard, Vinyl Siding, Wood Siding
Roof type
Metal, Composition, Shingle
Additional Structures
Storage
Listing Agency:
Portside Real Estate Group
(207) 495-3700
Listed By:
Linda Schultz
(207) 215-9805
Added: Jul 7
Changed: Aug 19
Last Checked: Aug 26 at 6:06PM
MLS# 1657871
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property combines office, retail, workshop, storage, and studio areas within a reconstructed commercial building. Originally built in 1900, the property received major improvements in 2021, including a walk-out basement with steel-beam support. The building contains 1,864 square feet, with a 1,728-square-foot ground-floor layout that includes a 10-by-7-foot office, small workshop, 6-by-8-foot bonus room, 30-by-43-foot retail area, and utility room. Additional space includes two 10-by-12-foot offices, an 8.5-by-10-foot entryway, and a 32-by-44-foot studio.
The studio features LED lighting, nine new 58-by-32-inch windows, a refinished cedar floor, and added ceiling insulation. Other improvements include new wiring throughout, a new heating system, and a chimney. The property sits at the intersection of Route 27 and Route 225 in Rome, with Belgrade Lakes Village a few minutes away by car.
The studio features LED lighting, nine new 58-by-32-inch windows, a refinished cedar floor, and added ceiling insulation. Other improvements include new wiring throughout, a new heating system, and a chimney. The property sits at the intersection of Route 27 and Route 225 in Rome, with Belgrade Lakes Village a few minutes away by car.
Key Highlights
- 1,864‑square‑foot flex property on a 0.11‑acre lot
- 2021 reconstruction included a full walk‑out basement with steel‑beam support
- Ground floor measures 1,728 square feet with office, workshop, retail, bonus, and utility areas
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
$18,000
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
7.93%
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%
$360,000
$360.0K
Cap Rate 7%
$257,143
$257.1K
Cap Rate 9%
$200,000
$200.0K
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
$26.8K $14.40/SF
− Vacancy
−$1.1K −$0.60/SF
EGI
$25.7K $13.80/SF
− OpEx
−$7.7K −$4.14/SF
NOI
$18.0K $9.66/SF
Area
Kennebec County, ME
Vacancy
4.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$360,000
Cap Rate 7%
$257,143
Cap Rate 9%
$200,000
Alternative Uses
Best Use
Industrial
$2.29M
$2.00M – $2.67M
NOI $160,311 @ 7.0% cap · market cap 70.62%
Second Best
Retail
$257.1K
$225.0K – $300.0K
NOI $18,000 @ 7.0% cap · market cap 7.93%
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
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Reconstructed commercial building with office, retail, workshop, storage, and studio areas in a steel-supported structure.
Where is this flex space 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: 1,864‑square‑foot flex property on a 0.11‑acre lot; 2021 reconstruction included a full walk‑out basement with steel‑beam support; Ground floor measures 1,728 square feet with office, workshop, retail, bonus, and utility areas
