Two-Story Office
22 Carriage Lane, Hallowell, ME 04347
For Sale
$1,250,000
Fiber connectivity, radiant floor heat and an on-demand generator serve the first floor.
Property Size6,356 SF
Lot Size2.08 Acres
Price / SF$196.66
Days on Market91
Property Features for 22 Carriage Lane
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Additional Details
Asking Price
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
Fiber connectivity
quality finishes
radiant floor heat
irrigation system
on-demand generator
Building Details
Building Size
Year Built
Year Renovated
Buildings
Stories
Listing Agency:
Porta & Company
(207) 747-1515
Listed By:
Timothy Millett
(207) 713-6995
Source:
Amerorealty
Added: Aug 11
Changed: Nov 7
Last Checked: Nov 8 at 5:11PM
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 Porta & Company
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Investment Insights
Based on property information with market context.
This two-story office property was built in 2012 and expanded in 2021. Interior features include quality finishes and radiant floor heat, with fiber connectivity and an irrigation system. An on-demand generator serves the first floor, and 45 parking spaces are available on the 2.08± acre site.
The property at 22 Carriage Lane in Hallowell is approximately 1.0± miles from Downtown Augusta and 2.0± miles from I-95 Exit 109. It is zoned BC Com.
The property at 22 Carriage Lane in Hallowell is approximately 1.0± miles from Downtown Augusta and 2.0± miles from I-95 Exit 109. It is zoned BC Com.
Key Highlights
- Two‑story office building on a 2.08± acre lot
- 45 available parking spaces
- Built in 2012; expanded in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,849
Cap Rate
7.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,796,980
$1.8M
Cap Rate 7%
$1,283,557
$1.3M
Cap Rate 9%
$998,322
$998.3K
Market Conditions
NOI Build-Up for 6,356 SF
Gross rent
$137.3K $21.60/SF
− Vacancy
−$17.5K −$2.75/SF
EGI
$119.8K $18.85/SF
− OpEx
−$29.9K −$4.71/SF
NOI
$89.8K $14.14/SF
Area
Kennebec County, ME
Vacancy
12.74%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,796,980
Cap Rate 7%
$1,283,557
Cap Rate 9%
$998,322
Alternative Uses
Best Use
Office B
$1.28M
$1.12M – $1.50M
NOI $89,849 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,453 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 04347, ME
2,570
Population
1,436
Households
1.8
Avg Household Size
51
Median Age
46%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
436
Density / Sq Mi
$58,811
Median Household Income
$37,027
Median Earnings
$830
Median Rent
$266,700
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Kennebec County, ME
Properties on Market for Office buildings in Kennebec County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Fiber connectivity, radiant floor heat and an on-demand generator serve the first floor.
Where is this office building located?
The property is located at 22 Carriage Lane Hallowell, ME.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Two‑story office building on a 2.08± acre lot; 45 available parking spaces; Built in 2012; expanded in 2021
