Historic Barn Mixed-Use
For Sale
$1,950,000
679 Roosevelt Trail, Naples, ME 04055
Historic barn with three renovated Airbnb units, a seasonal antique shop, and a café, near Naples Causeway.
Property Size6,974 SF
Price / SF$279.61
Days on Market192
Property Features for 679 Roosevelt Trail
General Information
Standard status
Active
Size
6,974 SF
Property subtype
Commercial
Zoning
Business District
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Year Built
1785
Listing Agency:
Pine Tree Realty of Maine
Listed By:
Constance Eldridge
(603) 433-3350
Source:
Greatislandrealty
Added: Feb 13
Changed: Aug 24
Last Checked: Aug 24 at 6:15AM
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 Pine Tree Realty of Maine
Investment Insights
Based on property information with market context.
Welcome to “The Naples Barn,” a historic property originally built in 1785 and updated for modern comfort. The site features three Airbnb units, with two units located within the Farmhouse and a third housed in the Historic Cupola constructed in 1899. Each unit has been fully renovated, and the property includes multiple on-site amenities that support visitor use, including a seasonal barn-area antique shop and a café in the end unit.
The property is located at 679 Roosevelt Trail in Naples, ME 04055, in a business district setting and described as being near shopping. The barn and its components are within walking distance to the Naples Causeway, providing convenient access to surrounding dining, recreation, and shopping options.
Recent upgrades support the property’s operational readiness and appeal, including new windows, a new roof, updated electrical systems, improved plumbing, a new septic system, new decks, and fresh asphalt parking. For buyers seeking a compact, hospitality-forward asset, the combination of short-term accommodations plus seasonal retail and café space creates a diversified mix of revenue-generating uses on one historic footprint.
The property is located at 679 Roosevelt Trail in Naples, ME 04055, in a business district setting and described as being near shopping. The barn and its components are within walking distance to the Naples Causeway, providing convenient access to surrounding dining, recreation, and shopping options.
Recent upgrades support the property’s operational readiness and appeal, including new windows, a new roof, updated electrical systems, improved plumbing, a new septic system, new decks, and fresh asphalt parking. For buyers seeking a compact, hospitality-forward asset, the combination of short-term accommodations plus seasonal retail and café space creates a diversified mix of revenue-generating uses on one historic footprint.
Key Highlights
- Historic Naples barn originally built in 1785, now configured with three Airbnb units
- Two Airbnb units are in the farmhouse; third Airbnb is the historic 1899 Cupola from the Bay of Naples Hotel
- All three units have been fully renovated for upscale accommodations
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
$114,657
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
5.88%
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%
$2,293,140
$2.3M
Cap Rate 7%
$1,637,957
$1.6M
Cap Rate 9%
$1,273,967
$1.3M
Market Conditions
NOI Build-Up for 6,974 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
$221.8K $31.80/SF
− Vacancy
−$13.3K −$1.91/SF
EGI
$208.5K $29.89/SF
− OpEx
−$93.8K −$13.45/SF
NOI
$114.7K $16.44/SF
Area
Cumberland County, ME
Vacancy
6.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$2,293,140
Cap Rate 7%
$1,637,957
Cap Rate 9%
$1,273,967
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.43M – $1.91M
NOI $114,657 @ 7.0% cap · market cap 5.88%
Second Best
Specialty Retail
$1.12M
$976.8K – $1.30M
NOI $78,144 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,177 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
137
Businesses Nearby
Explore this area
Business Placement
Demographics for 04055, ME
3,925
Population
3,455
Households
1.1
Avg Household Size
46
Median Age
34%
College-Educated
98%
High-School Grad
31.8 sq mi
ZIP Area
123
Density / Sq Mi
$68,278
Median Household Income
$40,333
Median Earnings
$1,412
Median Rent
$257,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Historic barn with three renovated Airbnb units, a seasonal antique shop, and a café, near Naples Causeway.
Where is this short term rental property located?
The property is located at 679 Roosevelt Trail Naples, ME.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Historic Naples barn originally built in 1785, now configured with three Airbnb units; Two Airbnb units are in the farmhouse; third Airbnb is the historic 1899 Cupola from the Bay of Naples Hotel; All three units have been fully renovated for upscale accommodations
