Mixed-Use Building with High-Bay
38 Hubbard Lane, Wells, ME 04090
For Sale
$850,000
RC-zoned property combines a second-floor apartment, first-floor offices, and a truck-accessible bay.
Property Size3,920 SF
Price / SF$216.84
Days on Market394
Property Features for 38 Hubbard Lane
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Highway Access
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
central AC
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
(207) 490-2900
Listed By:
John Caramihalis
(207) 651-0242
Source:
Integrityhomesrealestategroup
Added: Oct 14, 2025
Changed: Nov 11
Last Checked: Nov 11 at 2:20AM
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 Better Homes & Gardens Real Estate/The Masiello Group
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Investment Insights
Based on property information with market context.
The building brings together three distinct areas: a second-floor apartment with three bedrooms, one full bath, an eat-in kitchen, and multiple access points; first-floor office space divided into several rooms, with a small kitchen and half bath; and a high-bay area equipped with 14-foot garage doors. Radiant heat serves the bay, while the residential area has a central forced-hot-water system. Central air conditioning serves all areas. The building was constructed in 2003 and is zoned RC.
The property is approximately one-quarter mile from the Wells turnpike exit, providing access to I-95. The combination of residential, office, and high-bay space is configured within one building.
The property is approximately one-quarter mile from the Wells turnpike exit, providing access to I-95. The combination of residential, office, and high-bay space is configured within one building.
Key Highlights
- Three‑bedroom, one‑bath apartment on the second floor
- First‑floor office area has multiple rooms, a small kitchen, and a half bath
- High‑bay area with 14‑foot garage doors for large trucks
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,085
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$981,700
$981.7K
Cap Rate 7%
$701,214
$701.2K
Cap Rate 9%
$545,389
$545.4K
Market Conditions
NOI Build-Up for 3,920 SF
Gross rent
$58.8K $15.00/SF
− Vacancy
−$1.1K −$0.27/SF
EGI
$57.7K $14.73/SF
− OpEx
−$8.7K −$2.21/SF
NOI
$49.1K $12.52/SF
Area
York County, ME
Vacancy
1.79%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$981,700
Cap Rate 7%
$701,214
Cap Rate 9%
$545,389
Alternative Uses
Best Use
Warehouse
$701.2K
$613.6K – $818.1K
NOI $49,085 @ 7.0% cap · market cap 5.77%
Second Best
Mixed Use
$695.5K
$608.6K – $811.4K
NOI $48,686 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,983 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
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Business Placement
Demographics for 04090, ME
11,314
Population
9,590
Households
1.2
Avg Household Size
53
Median Age
38%
College-Educated
92%
High-School Grad
57.7 sq mi
ZIP Area
196
Density / Sq Mi
$83,900
Median Household Income
$47,928
Median Earnings
$1,313
Median Rent
$445,800
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in York County, ME
Properties on Market for Mixed-use properties in York County
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - RC-zoned property combines a second-floor apartment, first-floor offices, and a truck-accessible bay.
Where is this mixed-use property located?
The property is located at 38 Hubbard Lane Wells, ME.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Three‑bedroom, one‑bath apartment on the second floor; First‑floor office area has multiple rooms, a small kitchen, and a half bath; High‑bay area with 14‑foot garage doors for large trucks
