Mixed-Use Building with
2074 Medway Road, Medway, ME 04460
For Sale
$590,000
A ground-floor commercial area is combined with two one-bedroom apartments above.
Property Size4,008 SF
Lot Size1.40 Acres
Price / SF$147.21
Days on Market31
Property Features for 2074 Medway Road
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Listing Agency:
North Woods Real Estate, LLC
(207) 723-9086
Listed By:
James Plourde
(207) 723-1791
Source:
Hayesrealestate
Added: Oct 10
Changed: Nov 7
Last Checked: Nov 9 at 4:25PM
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 North Woods Real Estate, LLC
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Investment Insights
Based on property information with market context.
Built in 1970, this 4,008-square-foot property occupies 1.4 acres and is zoned Commercial. The ground floor contains commercial space, while the second floor has two separate one-bedroom apartments. The property has a history of restaurant use, and the commercial area may accommodate other business uses.
The site is on Medway Road near I-95, along a main route through Medway. Snowmobile and ATV access is available directly from the property. A recreational area across the street includes a boat launch on the Penobscot River.
The site is on Medway Road near I-95, along a main route through Medway. Snowmobile and ATV access is available directly from the property. A recreational area across the street includes a boat launch on the Penobscot River.
Key Highlights
- 4,008‑square‑foot mixed‑use property on 1.4 acres
- Two separate one‑bedroom apartments on the second floor
- Ground‑floor commercial area with a history of restaurant use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,722
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$574,440
$574.4K
Cap Rate 7%
$410,314
$410.3K
Cap Rate 9%
$319,133
$319.1K
Market Conditions
NOI Build-Up for 4,008 SF
Gross rent
$50.5K $12.60/SF
− Vacancy
−$4.5K −$1.13/SF
EGI
$46.0K $11.47/SF
− OpEx
−$17.2K −$4.30/SF
NOI
$28.7K $7.17/SF
Area
Penobscot County, ME
Vacancy
9.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$574,440
Cap Rate 7%
$410,314
Cap Rate 9%
$319,133
Alternative Uses
Best Use
Specialty Retail
$780.0K
$682.5K – $910.0K
NOI $54,600 @ 7.0% cap · market cap 9.25%
Second Best
Mixed Use
$410.3K
$359.0K – $478.7K
NOI $28,722 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,613 @ 7.0% cap · market cap 15.36%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
56
Businesses Nearby
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Business Placement
Demographics for 04460, ME
1,236
Population
654
Households
1.9
Avg Household Size
53
Median Age
8%
College-Educated
88%
High-School Grad
76.7 sq mi
ZIP Area
16
Density / Sq Mi
$46,125
Median Household Income
$28,200
Median Earnings
$766
Median Rent
$84,500
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Penobscot County, ME
Properties on Market for Mixed-use properties in Penobscot County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A ground-floor commercial area is combined with two one-bedroom apartments above.
Where is this mixed-use property located?
The property is located at 2074 Medway Road Medway, ME.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: 4,008‑square‑foot mixed‑use property on 1.4 acres; Two separate one‑bedroom apartments on the second floor; Ground‑floor commercial area with a history of restaurant use
