Medical Office Condo with Exam
243 U. S 1 #5, Scarborough, ME 04074
For Sale
$475,000
Second-floor medical suite includes elevator access, four plumbed exam rooms, and off-street parking.
Property Size1,634 SF
Price / SF$290.70
Days on Market113
Property Features for 243 U. S 1 #5
General Information
Standard status
Size
Elevators
Property subtype
Zoning
Space & Availability
Floor
Condition
Additional Details
Road Access
Property Use
Building Details
Building Size
Year Built
Listing Agency:
The Boulos Company
(207) 772-1333
Listed By:
Reese McFarlane · License ##SA926420
(207) 553-1734
Source:
Amerorealty
Added: Jul 20
Changed: Nov 7
Last Checked: Nov 8 at 6:29PM
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 The Boulos Company
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 1,634-square-foot medical office condominium occupies the second floor and includes four exam rooms with plumbing. Elevator access serves the suite, and off-street parking is available. The property was built in 1987 and is zoned TVC2.
The condominium is at 243 U.S. 1 in Scarborough, Maine, along Route 1.
The condominium is at 243 U.S. 1 in Scarborough, Maine, along Route 1.
Key Highlights
- 1,634± SF second‑floor medical office condominium
- Four plumbed exam rooms
- Elevator access to the second‑floor suite
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,800
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$476,000
$476.0K
Cap Rate 7%
$340,000
$340.0K
Cap Rate 9%
$264,444
$264.4K
Market Conditions
NOI Build-Up for 1,634 SF
Gross rent
$44.1K $27.00/SF
− Vacancy
−$4.5K −$2.72/SF
EGI
$39.7K $24.28/SF
− OpEx
−$15.9K −$9.71/SF
NOI
$23.8K $14.57/SF
Area
Cumberland County, ME
Vacancy
10.09%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$476,000
Cap Rate 7%
$340,000
Cap Rate 9%
$264,444
Alternative Uses
Best Use
Healthcare Medical
$340.0K
$297.5K – $396.7K
NOI $23,800 @ 7.0% cap · market cap 5.01%
Second Best
Office B
$334.2K
$292.4K – $389.9K
NOI $23,393 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$449.1K
$393.0K – $524.0K
NOI $31,437 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
749
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04074, ME
21,952
Population
10,561
Households
2.1
Avg Household Size
46
Median Age
58%
College-Educated
99%
High-School Grad
47.6 sq mi
ZIP Area
461
Density / Sq Mi
$125,642
Median Household Income
$55,955
Median Earnings
$1,821
Median Rent
$502,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- Scarborough Animal Hospital — 29 1st St, Scarborough, ME 04074
- Gagner Catherine DVM — 29 1st St, Scarborough, ME 04074
- Johnson Jennifer DVM — 129 us-1, scarborough, me 04074
- Baserga Janice DVM — 129 US-1, Scarborough, ME 04074
Frequently Asked Questions
What type of property is this?
Medical Office Space - Second-floor medical suite includes elevator access, four plumbed exam rooms, and off-street parking.
Where is this medical office space located?
The property is located at 243 U. S 1 #5 Scarborough, ME.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1,634± SF second‑floor medical office condominium; Four plumbed exam rooms; Elevator access to the second‑floor suite
