Restaurant Building with
For Sale
$495,000
434 Eastern Avenue, Augusta, ME 04330
COMMERCIAL - Augusta, ME
Property Size3,658 SF
Lot Size0.84 Acres
Price / SF$135.32
Days on Market16
Property Features for 434 Eastern Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RRes
Rooms
Basement
Basement
Full, Unfinished
Accessibility
Accessible Approach with Ramp
Lot features
Near Shopping, Suburban
Standard status
Active
Size
3,658 SF
Lot size
0.84 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6933
Utilities
Sewer type
Private Sewer, Septic Tank
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
ramp access
Building Details
Year built
1930
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Dennis Wheelock · License #BR921652
(207) 242-5588
Added: Jul 31
Changed: Aug 7
Last Checked: Aug 15 at 11:06PM
MLS# 1674338
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 3,658-square-foot commercial property combines a restaurant operation with an upstairs residential component. The first floor contains a 2,769+/- SF restaurant arranged for approximately 60 guests, with furniture, fixtures, and equipment included. Ramp access supports entry, while improvements include new insulation, smooth flat ceilings, customer-area and bakery flooring, tiled kitchen and dishwashing areas, new kitchen walls, fresh paint, and updated wall coverings.
An 889+/- SF, two-bedroom apartment occupies the second floor. The apartment has a recently replaced refrigerator and washer and dryer and is occupied by a long-term tenant. The property is located along Route 17 in Augusta and includes public water, private sewer, septic tank service, forced-air natural gas heat, and central air conditioning. The existing restaurant use may continue, or the space may be reconfigured for another commercial use.
An 889+/- SF, two-bedroom apartment occupies the second floor. The apartment has a recently replaced refrigerator and washer and dryer and is occupied by a long-term tenant. The property is located along Route 17 in Augusta and includes public water, private sewer, septic tank service, forced-air natural gas heat, and central air conditioning. The existing restaurant use may continue, or the space may be reconfigured for another commercial use.
Key Highlights
- 3,658 square feet on 0.84 acres along Route 17
- 2,769+/- SF restaurant with seating for approximately 60 guests
- 889+/- SF, 2‑BR second‑floor apartment
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
$40,988
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
8.28%
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%
$819,760
$819.8K
Cap Rate 7%
$585,543
$585.5K
Cap Rate 9%
$455,422
$455.4K
Market Conditions
NOI Build-Up for 3,658 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
$65.8K $18.00/SF
− Vacancy
−$11.2K −$3.06/SF
EGI
$54.7K $14.94/SF
− OpEx
−$13.7K −$3.74/SF
NOI
$41.0K $11.21/SF
Area
Kennebec County, ME
Vacancy
17.00%
Lease Rate
$18.00 /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%
$819,760
Cap Rate 7%
$585,543
Cap Rate 9%
$455,422
Alternative Uses
Best Use
Specialty Retail
$585.5K
$512.4K – $683.1K
NOI $40,988 @ 7.0% cap · market cap 8.28%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.46M
$4.78M – $6.37M
NOI $382,017 @ 7.0% cap · market cap 77.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04330, ME
26,322
Population
13,017
Households
2
Avg Household Size
44
Median Age
28%
College-Educated
95%
High-School Grad
116.9 sq mi
ZIP Area
225
Density / Sq Mi
$55,158
Median Household Income
$43,177
Median Earnings
$912
Median Rent
$197,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant space includes a second-floor apartment, ramp access, and a range of recent interior and building improvements.
Where is this conventional restaurant located?
The property is located at 434 Eastern Avenue Augusta, ME.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 3,658 square feet on 0.84 acres along Route 17; 2,769+/- SF restaurant with seating for approximately 60 guests; 889+/- SF, 2‑BR second‑floor apartment
