Mixed-Use Auto Workshop
4 Parsonage Road, North Yarmouth, ME 04097
For Sale
$450,000
Corner property currently operating as a personal workshop, with office space and an apartment on the second floor.
Property Size3,168 SF
Price / SF$142.05
Days on Market244
Property Features for 4 Parsonage Road
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Building Details
Year Built
Listing Agency:
EXP Realty
Listed By:
Brett Davis
(207) 865-9919
Source:
Profoundrealestate
Added: Mar 13
Changed: Nov 10
Last Checked: Nov 10 at 7:54AM
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 EXP Realty
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Investment Insights
Based on property information with market context.
This corner property is currently used as a personal workshop/garage and includes office space plus additional flexible indoor space suitable for commercial and/or residential uses. The building also has a second-floor unit with two bedrooms and one bath, along with a half bath on the ground level.
The property is described in the Village Center area of North Yarmouth and is positioned as a corner location. The offering notes the possibility of adding additional rental units, with all uses subject to town verification and permitting requirements.
Prospective buyers should confirm the permitted uses and any development plans directly with the town. The layout combines automotive/workshop use with residential and office components, providing an owner-occupied or income-earning configuration depending on approvals.
The property is described in the Village Center area of North Yarmouth and is positioned as a corner location. The offering notes the possibility of adding additional rental units, with all uses subject to town verification and permitting requirements.
Prospective buyers should confirm the permitted uses and any development plans directly with the town. The layout combines automotive/workshop use with residential and office components, providing an owner-occupied or income-earning configuration depending on approvals.
Key Highlights
- Corner property in Village Center North Yarmouth currently operating as a personal workshop/garage with office space and a second‑floor apartment
- Two‑bedroom, one‑bath apartment on the second floor, plus a 1/2 bath on the ground level
- Just over 1,000 sq ft of usable space for potential commercial and/or residential uses (permit requirements to be verified with the town)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,347
Cap Rate
8.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$786,940
$786.9K
Cap Rate 7%
$562,100
$562.1K
Cap Rate 9%
$437,189
$437.2K
Market Conditions
NOI Build-Up for 3,168 SF
Gross rent
$68.4K $21.60/SF
− Vacancy
−$5.5K −$1.73/SF
EGI
$63.0K $19.87/SF
− OpEx
−$23.6K −$7.45/SF
NOI
$39.3K $12.42/SF
Area
Cumberland County, ME
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$786,940
Cap Rate 7%
$562,100
Cap Rate 9%
$437,189
Alternative Uses
Best Use
Office B
$647.9K
$566.9K – $755.9K
NOI $45,353 @ 7.0% cap · market cap 10.08%
Second Best
Mixed Use
$562.1K
$491.8K – $655.8K
NOI $39,347 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$870.7K
$761.9K – $1.02M
NOI $60,951 @ 7.0% cap · market cap 13.54%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04097, ME
4,072
Population
1,596
Households
2.6
Avg Household Size
43
Median Age
53%
College-Educated
98%
High-School Grad
21.2 sq mi
ZIP Area
192
Density / Sq Mi
$119,813
Median Household Income
$56,215
Median Earnings
$1,615
Median Rent
$480,000
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- Ronny's Auto Body Shop — 4 Parsonage Rd, North Yarmouth, ME 04097
Frequently Asked Questions
What type of property is this?
Auto shop - Corner property currently operating as a personal workshop, with office space and an apartment on the second floor.
Where is this auto shop located?
The property is located at 4 Parsonage Road North Yarmouth, ME.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Corner property in Village Center North Yarmouth currently operating as a personal workshop/garage with office space and a second‑floor apartment; Two‑bedroom, one‑bath apartment on the second floor, plus a 1/2 bath on the ground level; Just over 1,000 sq ft of usable space for potential commercial and/or residential uses (permit requirements to be verified with the town)
