Combined Office
For Sale
$249,000
481 Main St, Sanford, ME 04083
Flexible condominium configuration with private offices, open workspace, restrooms, and an employee breakroom.
Property Size1,784 SF
Price / SF$139.57
Days on Market62
Property Features for 481 Main St
General Information
Standard status
Active
Size
1,784 SF
Additional Details
End Cap
No
Office Units
1
Amenities
3 means of egress
3 private offices
2 restrooms
open office space
employee breakroom area
Building Details
Year Built
1987
Listing Agency:
The Dunham Group
Listed By:
Bryan Plourde
(207) 773-7100
Source:
Samonasgroup
Added: Aug 15
Changed: Oct 10
Last Checked: Oct 7 at 2:23PM
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 The Dunham Group
Investment Insights
Based on property information with market context.
This office condominium combines two units into 1,784± SF of connected workspace. The layout includes three private offices, open office area, two restrooms, an employee breakroom, and three means of egress. Units #3 and #4 measure approximately 734± SF and 1,050± SF, respectively.
The configuration can support continued combined occupancy, while the units may also be separated for individual use. A purchaser may retain both suites or sublease one unit to another tenant, subject to applicable requirements.
The configuration can support continued combined occupancy, while the units may also be separated for individual use. A purchaser may retain both suites or sublease one unit to another tenant, subject to applicable requirements.
Key Highlights
- 1,784± SF combined office condominium
- Units #3 and #4 measure 734± SF and 1,050± SF
- Three private offices and open office area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,665
Cap Rate
8.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$433,300
$433.3K
Cap Rate 7%
$309,500
$309.5K
Cap Rate 9%
$240,722
$240.7K
Market Conditions
NOI Build-Up for 1,784 SF
Gross rent
$33.8K $18.96/SF
− Vacancy
−$2.9K −$1.61/SF
EGI
$30.9K $17.35/SF
− OpEx
−$9.3K −$5.20/SF
NOI
$21.7K $12.14/SF
Area
York County, ME
Vacancy
8.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$433,300
Cap Rate 7%
$309,500
Cap Rate 9%
$240,722
Alternative Uses
Best Use
Office B
$417.5K
$365.3K – $487.0K
NOI $29,222 @ 7.0% cap · market cap 11.74%
Second Best
Retail
$309.5K
$270.8K – $361.1K
NOI $21,665 @ 7.0% cap · market cap 8.70%
Theoretical Best
Office A
$565.5K
$494.8K – $659.8K
NOI $39,586 @ 7.0% cap · market cap 15.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
Explore this area
Business Placement
Demographics for 04083, ME
4,699
Population
2,202
Households
2.1
Avg Household Size
42
Median Age
34%
College-Educated
94%
High-School Grad
10.0 sq mi
ZIP Area
470
Density / Sq Mi
$81,299
Median Household Income
$52,832
Median Earnings
$1,210
Median Rent
$249,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible condominium configuration with private offices, open workspace, restrooms, and an employee breakroom.
Where is this office units located?
The property is located at 481 Main St Sanford, ME.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 1,784± SF combined office condominium; Units #3 and #4 measure 734± SF and 1,050± SF; Three private offices and open office area
