Mixed-Use Store with
506 Main Street, Wayne, ME 04284
For Sale
$525,000
Ground-floor commercial space is paired with an upper-level four-bedroom residence for an on-site live-work arrangement.
Property Size3,781 SF
Price / SF$138.85
Days on Market289
Property Features for 506 Main Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Mixed-Use Components
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Listing Agency:
Hoang Realty
(207) 623-0623
Listed By:
Erin Dunning
(207) 931-7679
Source:
Integrityhomesrealestategroup
Added: Jan 27
Changed: Nov 11
Last Checked: Nov 11 at 2:02AM
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 Hoang Realty
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Investment Insights
Based on property information with market context.
This 3,781-square-foot mixed-use property at 506 Main Street in Wayne combines ground-floor commercial space with a four-bedroom apartment above. The main level has an open layout, and the building dates to 1860. Lake views are part of the setting.
The property is zoned Village R6. The commercial area has been associated with A Small Town Bakery.
The property is zoned Village R6. The commercial area has been associated with A Small Town Bakery.
Key Highlights
- 3,781‑square‑foot mixed‑use building
- Four‑bedroom apartment on the upper level
- Open commercial floor plan at street level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,006
Cap Rate
7.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$780,120
$780.1K
Cap Rate 7%
$557,229
$557.2K
Cap Rate 9%
$433,400
$433.4K
Market Conditions
NOI Build-Up for 3,781 SF
Gross rent
$68.1K $18.00/SF
− Vacancy
−$5.6K −$1.49/SF
EGI
$62.4K $16.51/SF
− OpEx
−$23.4K −$6.19/SF
NOI
$39.0K $10.32/SF
Area
Kennebec County, ME
Vacancy
8.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$780,120
Cap Rate 7%
$557,229
Cap Rate 9%
$433,400
Alternative Uses
Best Use
Office B
$763.6K
$668.1K – $890.8K
NOI $53,449 @ 7.0% cap · market cap 10.18%
Second Best
Mixed Use
$557.2K
$487.6K – $650.1K
NOI $39,006 @ 7.0% cap · market cap 7.43%
Theoretical Best
Office A
$1.07M
$940.3K – $1.25M
NOI $75,223 @ 7.0% cap · market cap 14.33%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
25
Businesses Nearby
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Business Placement
Demographics for 04284, ME
1,113
Population
841
Households
1.3
Avg Household Size
54
Median Age
43%
College-Educated
95%
High-School Grad
18.4 sq mi
ZIP Area
60
Density / Sq Mi
$75,987
Median Household Income
$50,114
Median Earnings
$889
Median Rent
$327,900
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Kennebec County, ME
Properties on Market for Mixed-use properties in Kennebec County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space is paired with an upper-level four-bedroom residence for an on-site live-work arrangement.
Where is this mixed-use property located?
The property is located at 506 Main Street Wayne, ME.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 3,781‑square‑foot mixed‑use building; Four‑bedroom apartment on the upper level; Open commercial floor plan at street level
