Mixed-Use Building with
For Sale
Contact for pricing
434 Eastern Avenue, Augusta, ME 43793
Restaurant space and an upstairs apartment create a flexible mixed-use configuration along Route 17.
Property Size3,658 SF
Price / SF$135.32
Days on Market77
Property Features for 434 Eastern Avenue
General Information
Standard status
Active
Size
3,658 SF
Total Parking Spaces
38
Property subtype
Retail, Mixed Use
Zoning
Rural Residential
Site & Location
Highway Access
Yes
Road Access
Yes
Restaurant
Seating Capacity
60
Equipment Included
Yes
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Additional Details
Furnished
Yes
Amenities
ramp access
Building Details
Year Built
1930
Buildings
1
Stories
2
Units
2
Tenancy
Single
Listing Agency:
Magnusson Balfour Commercial
Listed By:
Dennis Wheelock · License #ME BR921652
(207) 242-5588
Source:
Crexi
Added: Jul 31
Changed: Oct 4
Last Checked: Oct 14 at 9:30PM
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 Magnusson Balfour Commercial
Investment Insights
Based on property information with market context.
This mixed-use property combines a 2,769+/- SF restaurant with an 889+/- SF, two-bedroom apartment on the second floor. The restaurant accommodates approximately 60 guests and includes ramp access, furniture, fixtures, and equipment. Improvements include new insulation, smooth flat ceilings, updated customer-area and bakery flooring, tiled kitchen and dishwashing areas, new kitchen walls, fresh paint, and refreshed wall coverings. The apartment has a recently replaced refrigerator and washer and dryer.
The building is positioned along Route 17 and was constructed in 1930. The second-floor residence is occupied by a long-term tenant, while the restaurant configuration may continue in its current form or be reconfigured for another commercial use. The property is identified with Rural Residential zoning.
The building is positioned along Route 17 and was constructed in 1930. The second-floor residence is occupied by a long-term tenant, while the restaurant configuration may continue in its current form or be reconfigured for another commercial use. The property is identified with Rural Residential zoning.
Key Highlights
- 2,769+/- SF restaurant with seating for approximately 60 guests
- 889+/- SF second‑floor, 2‑BR apartment
- Ramp access and restaurant furniture, fixtures, and equipment included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,988
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
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
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 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
Mixed Use
$539.1K
$471.7K – $629.0K
NOI $37,737 @ 7.0% cap · market cap 7.62%
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.
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Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant space and an upstairs apartment create a flexible mixed-use configuration along Route 17.
Where is this mixed-use property 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: 2,769+/- SF restaurant with seating for approximately 60 guests; 889+/- SF second‑floor, 2‑BR apartment; Ramp access and restaurant furniture, fixtures, and equipment included
