Building Details

Building Size 1,296 SF

Buildings 1

Listing Agency: Keller Williams Realty

Listed By: Kevin Fletcher · License #BA903663 Show Phone

Source: Hoangrealty

Added: Oct 15 Changed: Oct 27 Last Checked: Oct 26 at 2:18PM

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Investment Insights

Based on property information with market context.

This standalone commercial building contains 1,296 square feet and is currently configured for office use. The property is at 4 Pigeon Hill Road in Mechanic Falls, Maine.

A Hannaford supermarket is across the road, and Poland Regional High School is farther along Pigeon Hill Road. The seller also owns the neighboring land parcel.

Key Highlights

• 1,296‑square‑foot standalone building currently configured as an office
• Across Pigeon Hill Road from a Hannaford supermarket
• Poland Regional High School is down the road

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,000

Cap Rate

5.32%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$420,000 $420.0K

Cap Rate 7%

$300,000 $300.0K

Cap Rate 9%

$233,333 $233.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,296 SF

Gross rent

$32.0K $24.72/SF

− Vacancy

−$4.0K −$3.11/SF

EGI

$28.0K $21.61/SF

− OpEx

−$7.0K −$5.40/SF

NOI

$21.0K $16.20/SF

Area

Androscoggin County, ME

Vacancy

12.60%

Lease Rate

$24.72 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$420,000

Cap Rate 7%

$300,000

Cap Rate 9%

$233,333

Alternative Uses

Best Use

Office B

$300.0K

$262.5K – $350.0K (±1% cap)

NOI $21,000 @ 7.0% cap · market cap 5.32%

Second Best

Retail

$193.6K

$169.4K – $225.9K (±1% cap)

NOI $13,554 @ 7.0% cap · market cap 3.43%

Theoretical Best

Warehouse

$2.30M

$2.01M – $2.69M (±1% cap)

NOI $161,126 @ 7.0% cap · market cap 40.79%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Office buildings

Suggested Use

Top Pick HVAC Service Auto Parts Store Garden Center Grocery & Convenience Store Auto Repair Shop Kitchen & Bath Showroom

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

Location Intelligence

Trade Area within ½ mile

59

Businesses Nearby

Explore this area Business Placement

Demographics for 04256, ME

3,107

Population

1,195

Households

2.6

Avg Household Size

41

Median Age

15%

College-Educated

92%

High-School Grad

11.0 sq mi

ZIP Area

282

Density / Sq Mi

$58,958

Median Household Income

$36,601

Median Earnings

$1,160

Median Rent

$224,100

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

Frequently Asked Questions

What type of property is this?

Office building - A freestanding professional office sits across Pigeon Hill Road from a Hannaford supermarket.

Where is this office building located?

The property is located at 4 Pigeon Hill Road Mechanic Falls, ME.

What is the asking price?

The asking price for this property is $395,000.

What are key features of this property?

This property features: 1,296‑square‑foot standalone building currently configured as an office; Across Pigeon Hill Road from a Hannaford supermarket; Poland Regional High School is down the road