Equestrian Event Property with
For Sale
Contact for pricing
4261 UNION ST, Levant, ME 04456
Large equestrian compound with arenas, stabling, residences, retail space, and extensive event infrastructure.
Property Size25,134 SF
Price / SF$99.47
Days on Market14
Property Features for 4261 UNION ST
General Information
Standard status
Active
Size
25,134 SF
Class
A
Total Parking Spaces
100
Property subtype
Retail, Office, Self Storage
Zoning
RA
Occupancy
100%
Building Details
Year Built
1900
Year Renovated
2017
Buildings
10
Units
1
Tenancy
Single
Listing Agency:
Realty of Maine Bangor
Listed By:
Kurtis Marsh · License #ME BA913028
Source:
Crexi
Added: Aug 8
Changed: Aug 16
Last Checked: Aug 20 at 4:57AM
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 Realty of Maine Bangor
Investment Insights
Based on property information with market context.
This equestrian property combines nearly 100 acres with a broad range of operating improvements. The compound includes an indoor arena with climate-controlled tack and storage areas plus a viewing and conference room, along with an outdoor arena equipped for events with bleachers, an announcer stand, sound, lighting, and commercial food-service facilities. Horse stalls, animal pens, pastures, a pond, parking, and multiple storage buildings are also included.
Additional improvements support both business and residential use. A retail building is operating on site, and an approximately 5,000-square-foot commercial building contains a conditioned shop, bathroom, and office. The property also has 30 RV hookups, fiber internet with property-wide Wi-Fi, and video surveillance. Residential accommodations include a 2015-built ranch home with 3 bedrooms, 2 baths, one-floor living, an attached 3-car garage, and a walkout basement, plus an updated 4-bedroom, 3-bath farmhouse with a gourmet kitchen, fireplace, billiards room, great room, and attached garage. The property is located at 4261 Union St in Levant, Maine, and is zoned RA.
Additional improvements support both business and residential use. A retail building is operating on site, and an approximately 5,000-square-foot commercial building contains a conditioned shop, bathroom, and office. The property also has 30 RV hookups, fiber internet with property-wide Wi-Fi, and video surveillance. Residential accommodations include a 2015-built ranch home with 3 bedrooms, 2 baths, one-floor living, an attached 3-car garage, and a walkout basement, plus an updated 4-bedroom, 3-bath farmhouse with a gourmet kitchen, fireplace, billiards room, great room, and attached garage. The property is located at 4261 Union St in Levant, Maine, and is zoned RA.
Key Highlights
- Nearly 100 acres with pastures, a pond, parking, horse stalls, and animal pens
- Indoor arena with climate‑controlled tack and storage areas plus viewing and conference space
- Outdoor arena with bleachers, announcer stand, sound, lighting, and commercial food‑service setup
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
$210,281
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
8.41%
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%
$4,205,620
$4.2M
Cap Rate 7%
$3,004,014
$3.0M
Cap Rate 9%
$2,336,456
$2.3M
Market Conditions
NOI Build-Up for 25,134 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
$361.9K $14.40/SF
− Vacancy
−$61.5K −$2.45/SF
EGI
$300.4K $11.95/SF
− OpEx
−$90.1K −$3.59/SF
NOI
$210.3K $8.37/SF
Area
Penobscot County, ME
Vacancy
17.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$4,205,620
Cap Rate 7%
$3,004,014
Cap Rate 9%
$2,336,456
Alternative Uses
Best Use
Retail
$3.00M
$2.63M – $3.50M
NOI $210,281 @ 7.0% cap · market cap 8.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.12M
$7.10M – $9.47M
NOI $568,229 @ 7.0% cap · market cap 22.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 04456, ME
2,940
Population
1,299
Households
2.3
Avg Household Size
39
Median Age
19%
College-Educated
95%
High-School Grad
30.1 sq mi
ZIP Area
98
Density / Sq Mi
$75,917
Median Household Income
$41,689
Median Earnings
$1,240
Median Rent
$244,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Horse & equestrian property - Large equestrian compound with arenas, stabling, residences, retail space, and extensive event infrastructure.
Where is this horse & equestrian property located?
The property is located at 4261 UNION ST Levant, ME.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Nearly 100 acres with pastures, a pond, parking, horse stalls, and animal pens; Indoor arena with climate‑controlled tack and storage areas plus viewing and conference space; Outdoor arena with bleachers, announcer stand, sound, lighting, and commercial food‑service setup
