Mixed-Use Property with
442 W Broadway, Lincoln, ME 04457
For Sale
$399,000
Commercial zoning and substantial on-site parking accommodate the property's business and residential components.
Property Size4,596 SF
Lot Size5.81 Acres
Price / SF$86.81
Days on Market214
Property Features for 442 W Broadway
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Office Units
Additional Details
Currently Operating
Property Use
Medical Specialty
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Tenancy
Owner Occupied
Listing Agency:
NextHome Experience
(207) 573-7400
Listed By:
Jaime Gilbert · License ME BA927560
(207) 343-1215
Source:
Hayesrealestate
Added: Apr 11
Changed: Nov 10
Last Checked: Nov 10 at 1:36AM
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 NextHome Experience
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Investment Insights
Based on property information with market context.
The 4,596-square-foot mixed-use property, built in 1970, occupies 5.81 acres in Lincoln, Maine. Its first floor is configured as a chiropractic office with treatment rooms, a private office, and full and half baths. Two updated one-bedroom apartments are located upstairs; each has an open kitchen and living area, a full bath, laundry, and attached storage. The property also includes four storage units and an attached garage.
A gravel pad behind the building marks the former location of a mobile home, and an old road crosses the rear portion of the wooded parcel. The site has a large parking area and Commercial zoning.
A gravel pad behind the building marks the former location of a mobile home, and an old road crosses the rear portion of the wooded parcel. The site has a large parking area and Commercial zoning.
Key Highlights
- 5.81‑acre mixed‑use property in Lincoln, Maine
- 4,596‑square‑foot building, built in 1970
- First‑floor office layout includes treatment rooms, a private office, and full and half baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,936
Cap Rate
8.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$658,720
$658.7K
Cap Rate 7%
$470,514
$470.5K
Cap Rate 9%
$365,956
$366.0K
Market Conditions
NOI Build-Up for 4,596 SF
Gross rent
$57.9K $12.60/SF
− Vacancy
−$5.2K −$1.13/SF
EGI
$52.7K $11.47/SF
− OpEx
−$19.8K −$4.30/SF
NOI
$32.9K $7.17/SF
Area
Penobscot County, ME
Vacancy
9.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$658,720
Cap Rate 7%
$470,514
Cap Rate 9%
$365,956
Alternative Uses
Best Use
Office B
$928.1K
$812.1K – $1.08M
NOI $64,970 @ 7.0% cap · market cap 16.28%
Second Best
Healthcare Medical
$761.3K
$666.1K – $888.2K
NOI $53,290 @ 7.0% cap · market cap 13.36%
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,906 @ 7.0% cap · market cap 26.04%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Office units
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Explore this area
Business Placement
Demographics for 04457, ME
5,689
Population
3,587
Households
1.6
Avg Household Size
48
Median Age
21%
College-Educated
94%
High-School Grad
258.8 sq mi
ZIP Area
22
Density / Sq Mi
$51,403
Median Household Income
$32,646
Median Earnings
$647
Median Rent
$126,100
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Penobscot County, ME
Properties on Market for Mixed-use properties in Penobscot County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial zoning and substantial on-site parking accommodate the property's business and residential components.
Where is this mixed-use property located?
The property is located at 442 W Broadway Lincoln, ME.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 5.81‑acre mixed‑use property in Lincoln, Maine; 4,596‑square‑foot building, built in 1970; First‑floor office layout includes treatment rooms, a private office, and full and half baths
