Building Details

Year Built 1980

Tenancy Multi

Listing Agency: Show Phone

Listed By: Carol Kline

Source: Klinerealtygroup

Added: Oct 29 Changed: Nov 6 Last Checked: Nov 6 at 2:24PM

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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 Carol Kline

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Investment Insights

Based on property information with market context.

This 2,716-square-foot mixed-use property on Orr’s Island includes multiple residential units and a detached heated shop/garage. The first-floor, two-bedroom unit has direct access to a large private deck overlooking the yard. The residential units have been refreshed, and paved parking serves the property.

Tidal waterfrontage and a private setting are part of the property. The shop/garage has large bay doors and is currently used by a local landscaping business, providing a separate rental-income component.

Key Highlights

• 2,716‑square‑foot mixed‑use property on Orr’s Island
• Multiple residential units, including a two‑bedroom first‑floor unit
• First‑floor residence opens onto a large private deck

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$44,653

Cap Rate

3.88%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$893,060 $893.1K

Cap Rate 7%

$637,900 $637.9K

Cap Rate 9%

$496,144 $496.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,716 SF

Gross rent

$86.4K $31.80/SF

− Vacancy

−$5.2K −$1.91/SF

EGI

$81.2K $29.89/SF

− OpEx

−$36.5K −$13.45/SF

NOI

$44.7K $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 Rate 5%

$893,060

Cap Rate 7%

$637,900

Cap Rate 9%

$496,144

Alternative Uses

Best Use

Apartment 5plus

$637.9K

$558.2K – $744.2K (±1% cap)

NOI $44,653 @ 7.0% cap · market cap 3.88%

Second Best

Mixed Use

$481.9K

$421.7K – $562.2K (±1% cap)

NOI $33,733 @ 7.0% cap · market cap 2.93%

Theoretical Best

Office A

$746.5K

$653.2K – $870.9K (±1% cap)

NOI $52,255 @ 7.0% cap · market cap 4.54%

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

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Building Supply Auto Repair Shop HVAC Service Barber Shop Real Estate Agency Hotel & Motel

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

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

24

Businesses Nearby

Explore this area Business Placement

Demographics for 04066, ME

579

Population

711

Households

0.8

Avg Household Size

62

Median Age

42%

College-Educated

100%

High-School Grad

1.8 sq mi

ZIP Area

322

Density / Sq Mi

$113,409

Median Household Income

$24,021

Median Earnings

$1,402

Median Rent

$479,400

Median Home Value

Market

Average Price Trend$/SF for Mixed-use properties in Cumberland County, ME

$206 Jul

$255 Aug

$277 Sep

$251 Oct

Properties on Market for Mixed-use properties in Cumberland County

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - A two-bedroom ground-floor residence opens onto a private deck, alongside a heated detached shop/garage.

Where is this mixed-use property located?

The property is located at 8 Beals Cove Rd Harpswell, ME.

What is the asking price?

The asking price for this property is $1,150,000.

What are key features of this property?

This property features: 2,716‑square‑foot mixed‑use property on Orr’s Island; Multiple residential units, including a two‑bedroom first‑floor unit; First‑floor residence opens onto a large private deck