Professional Office
For Sale
$359,900
4-1228 Portland Road, Arundel, ME 04046
Ground-level space in a professional complex supports a range of office and service uses.
Property Size1,520 SF
Price / SF$236.78
Days on Market13
Property Features for 4-1228 Portland Road
General Information
Standard status
Active
Size
1,520 SF
Additional Details
Floor
1
Taxes and HOA fees
Annual Taxes
$1,511
Listing Agency:
McKechnie Commercial Realty
Listed By:
Suzanne McKechnie
(207) 467-5877
Source:
Exprealty
Added: Sep 25
Changed: Oct 7
Last Checked: Oct 5 at 9:55PM
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 McKechnie Commercial Realty
Investment Insights
Based on property information with market context.
This commercial condominium provides approximately 1,520 square feet on the ground level of a professional complex. Its adaptable layout can accommodate office, therapy, wellness, medical, and other service-oriented uses.
The property is along the Route 1 corridor in Arundel, with access to Kennebunk, Biddeford, and other York County communities. A second-floor unit directly above may also be available.
The property is along the Route 1 corridor in Arundel, with access to Kennebunk, Biddeford, and other York County communities. A second-floor unit directly above may also be available.
Key Highlights
- Approximately 1,520 square feet of commercial condominium space
- Ground‑level unit in a professional complex
- Flexible layout for office, therapy, wellness, medical, or other service uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,898
Cap Rate
6.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$497,960
$498.0K
Cap Rate 7%
$355,686
$355.7K
Cap Rate 9%
$276,644
$276.6K
Market Conditions
NOI Build-Up for 1,520 SF
Gross rent
$37.9K $24.96/SF
− Vacancy
−$4.7K −$3.12/SF
EGI
$33.2K $21.84/SF
− OpEx
−$8.3K −$5.46/SF
NOI
$24.9K $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 Rate 5%
$497,960
Cap Rate 7%
$355,686
Cap Rate 9%
$276,644
Alternative Uses
Best Use
Office B
$355.7K
$311.2K – $415.0K
NOI $24,898 @ 7.0% cap · market cap 6.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$481.8K
$421.6K – $562.1K
NOI $33,728 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
219
Businesses Nearby
Explore this area
Business Placement
Demographics for 04046, ME
7,893
Population
4,740
Households
1.7
Avg Household Size
51
Median Age
41%
College-Educated
98%
High-School Grad
44.4 sq mi
ZIP Area
178
Density / Sq Mi
$99,861
Median Household Income
$43,000
Median Earnings
$1,250
Median Rent
$559,900
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 - Ground-level space in a professional complex supports a range of office and service uses.
Where is this office units located?
The property is located at 4-1228 Portland Road Arundel, ME.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Approximately 1,520 square feet of commercial condominium space; Ground‑level unit in a professional complex; Flexible layout for office, therapy, wellness, medical, or other service uses
