New Office Condominium
For Sale
$89,000
298 York Street, York, ME 03909
COMMERCIAL - York, ME
Property Size302 SF
Lot Size0.16 Acres
Price / SF$294.70
Days on Market31
Property Features for 298 York Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
YVC-1
Parking features
Other, On Street
Accessibility
Accessible Approach with Ramp
Lot features
Downtown, Near Shopping
Standard status
Active
Size
302 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
1137
HOA Fee
$83 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Heat Pump
Water source
Public
Amenities
shared bathroom
private in-unit electrical panel
security
Building Details
Year built
2022
Flooring type
Plank
Building materials
Wood Frame, Fiber Cement
Roof type
Shingle
Listing Agency:
Coldwell Banker Yorke Realty · Coldwell Banker Real Estate
(207) 363-4300
Listed By:
Lorilyn Barrett
(207) 337-1515
Added: Jul 13
Changed: Aug 10
Last Checked: Aug 12 at 3:06AM
MLS# 1639587
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 302-square-foot office condominium is located in a mixed-use building completed in 2022. The unit offers an open-concept workspace along with an efficiency kitchen equipped with a sink, compact refrigerator, upper and lower cabinets, and microwave space. Interior features include plank flooring and a private electrical panel.
The property provides an accessible approach with a ramp, shared bathroom access, fire-suppression protection, and building security. Public water and public sewer serve the building, while heating and cooling are provided by a heat pump. On-street parking is available. The condominium is situated at 298 York Street in York, Maine, near major road access and approximately a 10-minute drive from the New Hampshire border. Zoning is YVC-1.
The property provides an accessible approach with a ramp, shared bathroom access, fire-suppression protection, and building security. Public water and public sewer serve the building, while heating and cooling are provided by a heat pump. On-street parking is available. The condominium is situated at 298 York Street in York, Maine, near major road access and approximately a 10-minute drive from the New Hampshire border. Zoning is YVC-1.
Key Highlights
- 302 SF office condominium in a mixed‑use building completed in 2022
- Open‑concept layout with efficiency kitchen, sink, small fridge, cabinetry, and microwave space
- Accessible approach with ramp and full handicap accessibility
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
$4,947
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
5.56%
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%
$98,940
$98.9K
Cap Rate 7%
$70,671
$70.7K
Cap Rate 9%
$54,967
$55.0K
Market Conditions
NOI Build-Up for 302 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
$7.5K $24.96/SF
− Vacancy
−$942 −$3.12/SF
EGI
$6.6K $21.84/SF
− OpEx
−$1.6K −$5.46/SF
NOI
$4.9K $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%
$98,940
Cap Rate 7%
$70,671
Cap Rate 9%
$54,967
Alternative Uses
Best Use
Office B
$70.7K
$61.8K – $82.5K
NOI $4,947 @ 7.0% cap · market cap 5.56%
Second Best
Healthcare Medical
$58.4K
$51.1K – $68.2K
NOI $4,091 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$95.7K
$83.8K – $111.7K
NOI $6,701 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
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 - Open-plan workspace with an efficiency kitchen, shared bathroom, and accessible building entry.
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 $89,000.
What are key features of this property?
This property features: 302 SF office condominium in a mixed‑use building completed in 2022; Open‑concept layout with efficiency kitchen, sink, small fridge, cabinetry, and microwave space; Accessible approach with ramp and full handicap accessibility
