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 Market31
Property Features for 434 Eastern Avenue
General Information
Standard status
Active
Size
3,658 SF
Total Parking Spaces
38
Property subtype
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
(207) 242-5588
Listed By:
Dennis Wheelock · License #ME BR921652
Source:
Crexi
Added: Jul 31
Changed: Aug 29
Last Checked: Aug 29 at 11:43PM
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 = 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
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.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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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
