Medical Office Condo with Exam
For Sale
$475,000
243 US Route 1, Scarborough, ME 04074
Second-floor suite offers elevator access and plumbing for medical exam rooms.
Property Size1,634 SF
Price / SF$290.70
Days on Market86
Property Features for 243 US Route 1
General Information
Standard status
Active
Size
1,634 SF
Class
B
Elevators
Yes
Property subtype
Office
Additional Details
Floor
Second Floor
Road Access
Yes
Building Details
Building Size
1,634 SF
Year Built
1987
Listing Agency:
The Boulos Company
Listed By:
Reese McFarlane · License #ME #SA926420
(207) 712-6987
Source:
Boulos
Added: Jul 22
Changed: Oct 6
Last Checked: Oct 14 at 8:34PM
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
Investment Insights
Based on property information with market context.
This medical office condominium occupies 1,634± square feet on the second floor of a building constructed in 1987. The layout includes four exam rooms with plumbing already installed, supporting continued medical office use. Elevator service provides access to the suite.
The property is located at 243 US Route 1 in Scarborough, Maine, along the Route 1 corridor. Off-street parking is available at the property, adding practical convenience for patients, staff, and visitors.
The property is located at 243 US Route 1 in Scarborough, Maine, along the Route 1 corridor. Off-street parking is available at the property, adding practical convenience for patients, staff, and visitors.
Key Highlights
- 1,634± SF second‑floor medical office condominium
- Four exam rooms with plumbing installed
- 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
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
561
Businesses Nearby
Balanced
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Similar Off Market Nearby
- Portland veterinary hospital — 29 Camden St, Scarborough, ME 04074
- Cats On Call Hospital Inc — 256 US-1, Scarborough, ME 04074
Frequently Asked Questions
What type of property is this?
Medical Office Space - Second-floor suite offers elevator access and plumbing for medical exam rooms.
Where is this medical office space located?
The property is located at 243 US Route 1 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 exam rooms with plumbing installed; Elevator access to the second‑floor suite
