Road-Front Office Condo
For Sale
$125,000
298 York Street, York, ME 03909
Newer commercial condo suite with direct road frontage, abundant natural light, and shared bathroom access.
Property Size441 SF
Price / SF$283.45
Days on Market326
Property Features for 298 York Street
General Information
Standard status
Active
Size
441 SF
Property subtype
General Commercial
Site & Location
Traffic Count
13,600 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$1,326
Amenities
fire-suppression system
shared bathroom
security
internet-ready
handicap accessible
private in-unit electrical panel
Egyptian blinds
Heat Pump
3
Parking.
Other Parking, On Street.
0.16
Building Details
Year Built
2022
Listing Agency:
Coldwell Banker Yorke Realty
(207) 337-1515
Listed By:
Lorilyn Barrett
(207) 337-1515
Source:
Xome
Added: Sep 20, 2025
Changed: Aug 8
Last Checked: Aug 11 at 5:27AM
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 at 298 York Street Unit 2, this newly constructed commercial condo suite is part of Bristol Pointe, built in 2022. The space is approximately 442 SF and features an interior designed for flexible use, with abundant natural light and new Egyptian blinds for privacy. It is fully internet-ready with capacity for multiple workstations, and includes a private in-unit electrical panel, security, and a fire-suppression system. Handicap-use accessibility is provided.
The suite offers direct road frontage on York Street, supporting strong on-site visibility and signage opportunities. A shared bathroom serves the unit.
This listing is presented as a for-sale condo opportunity, with an additional unit on the same level also available for sale (see MLS # 1639587).
The suite offers direct road frontage on York Street, supporting strong on-site visibility and signage opportunities. A shared bathroom serves the unit.
This listing is presented as a for-sale condo opportunity, with an additional unit on the same level also available for sale (see MLS # 1639587).
Key Highlights
- 2022‑built Bristol Pointe commercial condo with 442 SF of interior space
- Direct road frontage on York Street with signage opportunities
- Heat pump cooling and heating listed as 3
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
$7,224
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
5.78%
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%
$144,480
$144.5K
Cap Rate 7%
$103,200
$103.2K
Cap Rate 9%
$80,267
$80.3K
Market Conditions
NOI Build-Up for 441 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
$9.6K $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%
$144,480
Cap Rate 7%
$103,200
Cap Rate 9%
$80,267
Alternative Uses
Best Use
Office B
$103.2K
$90.3K – $120.4K
NOI $7,224 @ 7.0% cap · market cap 5.78%
Second Best
Healthcare Medical
$85.3K
$74.7K – $99.6K
NOI $5,974 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$139.8K
$122.3K – $163.1K
NOI $9,786 @ 7.0% cap · market cap 7.83%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Newer commercial condo suite with direct road frontage, abundant natural light, and shared bathroom access.
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: 2022‑built Bristol Pointe commercial condo with 442 SF of interior space; Direct road frontage on York Street with signage opportunities; Heat pump cooling and heating listed as 3
