Live-Work Space with
For Sale
$549,000
4 Parsonage Road, North Yarmouth, ME 04097
COMMERCIAL - North Yarmouth, ME
Property Size3,168 SF
Lot Size0.75 Acres
Price / SF$173.30
Days on Market46
Property Features for 4 Parsonage Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Village Center
Lot features
Business District, Near Shopping
Standard status
Active
Size
3,168 SF
Lot size
0.75 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5937
Utilities
Sewer type
Septic Tank, Private Sewer
Heating system
Baseboard, Hot Water(Heating), Oil
Water source
Public
Amenities
workshop/garage
two-bedroom apartment
office space
half bath
Building Details
Year built
1945
Flooring type
Laminate, Wood, Concrete
Building materials
Wood Frame, Vinyl Siding, Wood Siding
Roof type
Metal
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Brett Davis
(207) 865-9919
Added: Jun 27
Changed: Aug 4
Last Checked: Aug 11 at 10:06PM
MLS# 1650778
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This live-work space at 4 Parsonage Road in North Yarmouth includes a personal workshop/garage and office space with approximately 3,168 square feet of usable space. The building also features a second-floor two-bedroom, one-bath apartment, plus a half bath on the ground level, supporting flexible commercial and residential layouts (all uses should be verified with the town for permitting requirements).
Set on a 0.75-acre lot, the property is built with wood frame construction and vinyl and wood siding, with a metal roof. Interior finishes include laminate, concrete, and wood flooring, and heating is provided via hot water baseboard systems with oil heat.
Utilities include public water and private sewer through a septic tank system. The current setup is offered for buyers or tenants seeking a combination of work space and on-site residential use, with permitting to be confirmed for the intended operations.
Set on a 0.75-acre lot, the property is built with wood frame construction and vinyl and wood siding, with a metal roof. Interior finishes include laminate, concrete, and wood flooring, and heating is provided via hot water baseboard systems with oil heat.
Utilities include public water and private sewer through a septic tank system. The current setup is offered for buyers or tenants seeking a combination of work space and on-site residential use, with permitting to be confirmed for the intended operations.
Key Highlights
- 0.75‑acre lot with live‑work workshop/garage and office space
- Approximately 3,168 SF of usable space with commercial and residential components
- Second‑floor two‑bedroom, one‑bath apartment plus half bath on 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
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 - Live-work building in Village Center zoning with workshop/garage, office space, and a second-floor two-bedroom apartment.
Where is this live-work space located?
The property is located at 4 Parsonage Road 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: 0.75‑acre lot with live‑work workshop/garage and office space; Approximately 3,168 SF of usable space with commercial and residential components; Second‑floor two‑bedroom, one‑bath apartment plus half bath on ground level
