Building Details

Building Size 1,680 SF

Listing Agency: RE/MAX Collaborative Show Phone

Listed By: B Michael Ireland · License #DB923982 Show Phone

Source: Amerorealty

Added: Dec 16, 2024 Changed: Oct 31 Last Checked: Nov 3 at 5:59AM

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Investment Insights

Based on property information with market context.

This commercial office property is located on the waterfront at 5 Lake Street in Lincoln, Maine. The property carries Shoreland zoning and is offered for sale.

Key Highlights

• Waterfront commercial office property
• Shoreland zoning
• Located at 5 Lake Street, Lincoln, ME 04457

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,749

Cap Rate

6.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$474,980 $475.0K

Cap Rate 7%

$339,271 $339.3K

Cap Rate 9%

$263,878 $263.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,680 SF

Gross rent

$36.3K $21.60/SF

− Vacancy

−$4.6K −$2.75/SF

EGI

$31.7K $18.85/SF

− OpEx

−$7.9K −$4.71/SF

NOI

$23.7K $14.14/SF

Area

Penobscot County, ME

Vacancy

12.74%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$474,980

Cap Rate 7%

$339,271

Cap Rate 9%

$263,878

Alternative Uses

Best Use

Office B

$339.3K

$296.9K – $395.8K (±1% cap)

NOI $23,749 @ 7.0% cap · market cap 6.98%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$542.6K

$474.8K – $633.0K (±1% cap)

NOI $37,981 @ 7.0% cap · market cap 11.17%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

CWA & Lake Street ... Real Estate Agency

Suggested Use

Top Pick HVAC Service Electrical Service Building Supply Big Box & Wholesale Store Spa & Massage Center (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

241

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

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Similar For Sale Nearby

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Five-Unit Apartment Building

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15-Lot Mobile Home Park

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Frequently Asked Questions

What type of property is this?

Office unit - Shoreland zoning applies to this commercial office property.

Where is this office unit located?

The property is located at 5 Lake Street Lincoln, ME.

What is the asking price?

The asking price for this property is $340,000.

What are key features of this property?

This property features: Waterfront commercial office property; Shoreland zoning; Located at 5 Lake Street, Lincoln, ME 04457