Live-Work Building with
For Sale
$549,000
4 Parsonage Rd, North Yarmouth, ME 04097
Two-level property combines office space, apartment quarters, and ground-floor utility areas.
Property Size3,168 SF
Price / SF$173.30
Days on Market43
Property Features for 4 Parsonage Rd
General Information
Standard status
Active
Size
3,168 SF
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Building Details
Year Built
1945
Buildings
1
Listing Agency:
EXP Realty
(207) 879-9800
Listed By:
Brett Davis
Source:
Soldbymichaelthomas
Added: Jul 18
Changed: Aug 28
Last Checked: Aug 25 at 5:28AM
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.
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 = 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
$45,353
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
8.26%
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%
$907,060
$907.1K
Cap Rate 7%
$647,900
$647.9K
Cap Rate 9%
$503,922
$503.9K
Market Conditions
NOI Build-Up for 3,168 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
$69.2K $21.84/SF
− Vacancy
−$8.7K −$2.75/SF
EGI
$60.5K $19.09/SF
− OpEx
−$15.1K −$4.77/SF
NOI
$45.4K $14.32/SF
Area
Cumberland County, ME
Vacancy
12.60%
Lease Rate
$21.84 /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%
$907,060
Cap Rate 7%
$647,900
Cap Rate 9%
$503,922
Alternative Uses
Best Use
Office B
$647.9K
$566.9K – $755.9K
NOI $45,353 @ 7.0% cap · market cap 8.26%
Second Best
Mixed Use
$562.1K
$491.8K – $655.8K
NOI $39,347 @ 7.0% cap · market cap 7.17%
Theoretical Best
Office A
$870.7K
$761.9K – $1.02M
NOI $60,951 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 $549,000.
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
