Commercial Condo Office
For Sale
$89,000
298 York Street Unit 4, York, ME 03909
Newly constructed condo office unit with an open layout, efficiency kitchen, and shared bathroom in a 2022 mixed-use building.
Property Size302 SF
Price / SF$294.70
Days on Market348
Property Features for 298 York Street Unit 4
General Information
Standard status
Active
Size
302 SF
Property subtype
Commercial
Additional Details
Sprinkler System
Yes
Amenities
shared bathroom
fire-suppression system
private in-unit electrical panel
security
handicap accessible
efficiency kitchen
Building Details
Year Built
2022
Listing Agency:
Coldwell Banker Yorke Realty
Listed By:
Lorilyn Barrett
(603) 433-3350
Source:
Greatislandrealty
Added: Sep 20, 2025
Changed: Sep 2
Last Checked: Aug 31 at 8:25PM
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.
This newly constructed commercial condo unit is located in a mixed-use building completed in 2022 and is offered for sale. The suite provides a large open concept office space, along with an efficiency kitchen featuring a sink, small fridge, upper and lower cabinets, and space for a microwave. Additional in-unit features include a private electrical panel, and the building includes a fire-suppression system and security. The unit also offers full handicap use and accessibility, and includes access to a shared bathroom.
The property is described as being in downtown York near shopping, with proximity to major road access and about a 10-minute drive to the NH border. The remarks also note York Village is undergoing a major revitalization project expected to begin in 2026, with plans aimed at improving walkability, traffic flow, and parking.
The condo includes shared bathroom access and common building amenities, with private in-unit electrical service supporting the space’s day-to-day operations.
The property is described as being in downtown York near shopping, with proximity to major road access and about a 10-minute drive to the NH border. The remarks also note York Village is undergoing a major revitalization project expected to begin in 2026, with plans aimed at improving walkability, traffic flow, and parking.
The condo includes shared bathroom access and common building amenities, with private in-unit electrical service supporting the space’s day-to-day operations.
Key Highlights
- 302 SF newly constructed York commercial condo office unit in a mixed‑use building completed in 2022
- Large open‑concept office space suitable for a business, medical office, art studio, or call center
- Efficiency kitchen includes sink, small fridge, upper and lower cabinets, and space for a microwave
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Newly constructed condo office unit with an open layout, efficiency kitchen, and shared bathroom in a 2022 mixed-use building.
Where is this office units located?
The property is located at 298 York Street Unit 4 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 newly constructed York commercial condo office unit in a mixed‑use building completed in 2022; Large open‑concept office space suitable for a business, medical office, art studio, or call center; Efficiency kitchen includes sink, small fridge, upper and lower cabinets, and space for a microwave
