Highly Visible Remodeled Commercial
For Sale
$359,900
69 York Street Unit 5, Kennebunk, ME 04043
Completely remodeled two-floor condo with office and retail/salon options, plus ample front and rear parking.
Property Size1,801 SF
Price / SF$199.83
Days on Market185
Property Features for 69 York Street Unit 5
General Information
Standard status
Active
Size
1,801 SF
Property subtype
Commercial
Building Details
Year Built
2006
Stories
2
Listing Agency:
McKechnie Commercial Realty
Listed By:
Suzanne McKechnie
(603) 433-3350
Source:
Greatislandrealty
Added: Mar 3
Changed: Sep 3
Last Checked: Sep 2 at 7:55PM
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 McKechnie Commercial Realty
Investment Insights
Based on property information with market context.
This highly visible commercial condo has been completely remodeled and provides two floors of space that can be used for office space and retail space or a salon.
The property is located on Route 1 just north of Main Street in Kennebunk and offers ample parking both in front and at the rear. It may also be purchased along with an abutting condo for double the space, and the owner will finance 5% of the sale. Please see MLS# 1405807 for additional details.
The property is located on Route 1 just north of Main Street in Kennebunk and offers ample parking both in front and at the rear. It may also be purchased along with an abutting condo for double the space, and the owner will finance 5% of the sale. Please see MLS# 1405807 for additional details.
Key Highlights
- Completely remodeled commercial condo with two floors of space for office, retail, or salon use
- Conveniently located on Route 1, just north of Main Street in Kennebunk
- Ample parking available both in the front and in the back
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
$29,500
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
8.20%
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%
$590,000
$590.0K
Cap Rate 7%
$421,429
$421.4K
Cap Rate 9%
$327,778
$327.8K
Market Conditions
NOI Build-Up for 1,801 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
$45.0K $24.96/SF
− Vacancy
−$5.6K −$3.12/SF
EGI
$39.3K $21.84/SF
− OpEx
−$9.8K −$5.46/SF
NOI
$29.5K $16.38/SF
Area
York County, ME
Vacancy
12.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$590,000
Cap Rate 7%
$421,429
Cap Rate 9%
$327,778
Alternative Uses
Best Use
Office B
$421.4K
$368.8K – $491.7K
NOI $29,500 @ 7.0% cap · market cap 8.20%
Second Best
Retail
$312.4K
$273.4K – $364.5K
NOI $21,871 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$570.9K
$499.6K – $666.1K
NOI $39,964 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Explore this area
Business Placement
Demographics for 04043, ME
11,536
Population
6,243
Households
1.8
Avg Household Size
52
Median Age
50%
College-Educated
97%
High-School Grad
35.1 sq mi
ZIP Area
329
Density / Sq Mi
$101,204
Median Household Income
$53,283
Median Earnings
$1,405
Median Rent
$460,600
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 - Completely remodeled two-floor condo with office and retail/salon options, plus ample front and rear parking.
Where is this office units located?
The property is located at 69 York Street Unit 5 Kennebunk, ME.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Completely remodeled commercial condo with two floors of space for office, retail, or salon use; Conveniently located on Route 1, just north of Main Street in Kennebunk; Ample parking available both in the front and in the back
