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 Market41
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
(207) 712-6987
Listed By:
Reese McFarlane · License #ME #SA926420
(207) 712-6987
Source:
Boulos
Added: Jul 22
Changed: Aug 29
Last Checked: Aug 30 at 3:44PM
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 = 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
$23,800
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
5.01%
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%
$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
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
$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 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%
$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.
Property 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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
