Building Details

Year Built 1945

Buildings 1

Listing Agency: EXP Realty

Listed By: Brett Davis Show Phone

Source: Soldbymichaelthomas

Added: Jul 18 Changed: Oct 11 Last Checked: Oct 7 at 4:35PM

Report an Issue

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

Investment Insights

Based on property information with market context.

This 3,168-square-foot live-work property was built in 1945 and is arranged across two levels. The ground floor includes a workshop or garage area, office space, a half bath, and more than 1,000 square feet of usable space. The second floor contains a two-bedroom, one-bath apartment, creating a combination of commercial and residential areas within one building.

The property occupies a corner location at 4 Parsonage Rd in North Yarmouth, Maine. Its existing layout provides separate work and living components, with additional interior space available for the current configuration. Any proposed use or changes to the layout should be reviewed with the town for permitting requirements.

Key Highlights

• 3,168‑square‑foot live‑work building
• Two‑bedroom, one‑bath apartment on the second floor
• Workshop or garage, office space, and 1/2 bath on the ground level

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 (±1% cap)

NOI $45,353 @ 7.0% cap · market cap 10.08%

Second Best

Mixed Use

$562.1K

$491.8K – $655.8K (±1% cap)

NOI $39,347 @ 7.0% cap · market cap 8.74%

Theoretical Best

Office A

$870.7K

$761.9K – $1.02M (±1% cap)

NOI $60,951 @ 7.0% cap · market cap 13.54%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Ronny's Auto Body ... Auto Repair Shop

Suggested Use

Top Pick Real Estate Agency Dental Office Auto Parts Store Auto Repair Shop Bakery Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

66

Businesses Nearby

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

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this live-work space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Live-work space - Two-level property combines office space, apartment quarters, and ground-floor utility areas.

Where is this live-work space located?

The property is located at 4 Parsonage Rd 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: 3,168‑square‑foot live‑work building; Two‑bedroom, one‑bath apartment on the second floor; Workshop or garage, office space, and 1/2 bath on the ground level