Equestrian Event Property with
New
For Sale
$2,500,000
4261 Union Street, Levant, ME 04456
COMMERCIAL - Levant, ME
Property Size25,134 SF
Lot Size93.84 Acres
Price / SF$99.47
Days on Market3
Property Features for 4261 Union Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RA
Rooms
Basement
Basement
Full, Unfinished
Lot features
Water View, Near Shopping, Rural
Standard status
Active
Size
25,134 SF
Lot size
93.84 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
11723
Utilities
Sewer type
Private Sewer, Septic Tank
Heating system
Oil, Hot Water(Heating), Electric (Heating), Propane (Heating), Forced Air, Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Well, Private
Building Details
Year built
1900
Flooring type
Hardwood, Wood, Laminate, Vinyl, Concrete
Building materials
Steel Frame, Wood Frame, Metal Clad, Wood Siding
Roof type
Shingle, Metal
Listing Agency:
Realty of Maine
(207) 942-6310
Listed By:
Carissa Marsh
(207) 974-6606
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 6:06PM
MLS# 1675369
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 RA-zoned equestrian property spans 93.84 acres and includes indoor and outdoor arenas, horse stalls, animal pens, pastures, parking, and a pond. The indoor arena includes climate-controlled tack and storage areas plus a viewing, conference, and meeting room. The outdoor arena is equipped with commercial food-service facilities, bleacher seating, an announcer stand, sound, and event lighting.
Additional improvements include a retail store building, a nearly 5,000-square-foot commercial building with a conditioned shop, bathroom, and office, and several storage buildings. The property also has 30 RV hookups, fiber internet with sitewide Wi-Fi, video surveillance, private well and septic systems, and two year-round homes. The updated farmhouse offers 4 bedrooms and 3 bathrooms, while the 2015-built ranch home has 3 bedrooms, 2 bathrooms, an attached 3-car garage, and a full walkout basement.
Additional improvements include a retail store building, a nearly 5,000-square-foot commercial building with a conditioned shop, bathroom, and office, and several storage buildings. The property also has 30 RV hookups, fiber internet with sitewide Wi-Fi, video surveillance, private well and septic systems, and two year-round homes. The updated farmhouse offers 4 bedrooms and 3 bathrooms, while the 2015-built ranch home has 3 bedrooms, 2 bathrooms, an attached 3-car garage, and a full walkout basement.
Key Highlights
- 93.84‑acre equestrian property in Levant, ME
- Indoor arena with climate‑controlled tack and storage areas
- Outdoor arena with food‑service setup, bleachers, announcer stand, sound, and event lighting
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
Warehouse
$2.38M
$2.09M – $2.78M
NOI $166,895 @ 7.0% cap · market cap 6.68%
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Horse & equestrian property - RA-zoned equestrian property with retail, event, agricultural, and residential improvements across a large private setting.
Where is this horse & equestrian property located?
The property is located at 4261 Union Street 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: 93.84‑acre equestrian property in Levant, ME; Indoor arena with climate‑controlled tack and storage areas; Outdoor arena with food‑service setup, bleachers, announcer stand, sound, and event lighting
