Mixed-Use Office Condo with Road
For Sale
$125,000
298 York Street, York, ME 03909
Bright, internet-ready commercial condo with direct road frontage and ADA accessibility for office, medical, or retail use.
Property Size442 SF
Price / SF$282.81
Days on Market343
Property Features for 298 York Street
General Information
Standard status
Active
Size
442 SF
Property subtype
Commercial
Site & Location
Traffic Count
13,600 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Sprinkler System
Yes
Building Details
Year Built
2022
Listing Agency:
Coldwell Banker Yorke Realty
Listed By:
Lorilyn Barrett
(603) 433-3350
Source:
Greatislandrealty
Added: Sep 4, 2025
Changed: Aug 11
Last Checked: Aug 12 at 3:16AM
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 Coldwell Banker Yorke Realty
Investment Insights
Based on property information with market context.
Located in Bristol Pointe, a mixed-use building constructed in 2022, this newly priced commercial condo offers a 442 SF interior suited for professional services and small retail concepts. The space features abundant natural light, shared bathroom access, and a fire-suppression system. It is internet-ready with capacity for multiple workstations, and includes a private in-unit electrical panel and security. Handicap use and accessibility are provided for convenient entry and use.
The condo has direct road frontage on York Street, supporting visibility and signage opportunities. The property is described as being in the heart of historic York Village, which is undergoing a revitalization effort focused on improving walkability, traffic flow, and parking. Maine DOT reporting cited in the remarks indicates average daily vehicle counts in the 13,600 range at this location, with major road access nearby and a 10-minute drive to the NH border.
This flexible layout can support a range of uses, including a retail shop, business or medical office, or studio, depending on operating needs. Practical building amenities such as shared facilities, security, and accessibility may help streamline day-to-day operations for a single-tenant or small team environment.
The condo has direct road frontage on York Street, supporting visibility and signage opportunities. The property is described as being in the heart of historic York Village, which is undergoing a revitalization effort focused on improving walkability, traffic flow, and parking. Maine DOT reporting cited in the remarks indicates average daily vehicle counts in the 13,600 range at this location, with major road access nearby and a 10-minute drive to the NH border.
This flexible layout can support a range of uses, including a retail shop, business or medical office, or studio, depending on operating needs. Practical building amenities such as shared facilities, security, and accessibility may help streamline day-to-day operations for a single-tenant or small team environment.
Key Highlights
- Newly built 2022 mixed‑use building; 442 SF commercial condo in historic York Village
- Direct road frontage on York Street with signage opportunities and natural light
- Fully internet‑ready with capacity for multiple workstations for office, medical, retail, or studio use
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
$7,240
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
5.79%
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%
$144,800
$144.8K
Cap Rate 7%
$103,429
$103.4K
Cap Rate 9%
$80,444
$80.4K
Market Conditions
NOI Build-Up for 442 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
$11.0K $24.96/SF
− Vacancy
−$1.4K −$3.12/SF
EGI
$9.7K $21.84/SF
− OpEx
−$2.4K −$5.46/SF
NOI
$7.2K $16.38/SF
Area
York County, ME
Vacancy
12.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$144,800
Cap Rate 7%
$103,429
Cap Rate 9%
$80,444
Alternative Uses
Best Use
Office B
$103.4K
$90.5K – $120.7K
NOI $7,240 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$140.1K
$122.6K – $163.5K
NOI $9,808 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13,600 VPD
Traffic count
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
551
Businesses Nearby
Explore this area
Business Placement
Demographics for 03909, ME
10,938
Population
7,101
Households
1.5
Avg Household Size
53
Median Age
50%
College-Educated
98%
High-School Grad
35.2 sq mi
ZIP Area
311
Density / Sq Mi
$108,889
Median Household Income
$55,540
Median Earnings
$1,438
Median Rent
$589,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Bright, internet-ready commercial condo with direct road frontage and ADA accessibility for office, medical, or retail use.
Where is this office units located?
The property is located at 298 York Street York, ME.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: Newly built 2022 mixed‑use building; 442 SF commercial condo in historic York Village; Direct road frontage on York Street with signage opportunities and natural light; Fully internet‑ready with capacity for multiple workstations for office, medical, retail, or studio use
