Medical Office Space with Living
For Sale
$535,000
88 Libby Hill Road, Oakland, ME 04963
Commercially zoned property with an established veterinary layout and an upper-level residential component.
Property Size4,054 SF
Lot Size1.99 Acres
Days on Market538
Property Features for 88 Libby Hill Road
General Information
Standard status
Active
Size
4,054 SF
Lot size
1.99 Acres
Property subtype
Commercial
Zoning
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,258
Building Details
Building Size
4,054 SF
Year Built
2004
Stories
2
Listing Agency:
Hoang Realty
(207) 707-2919
Listed By:
Heidi Witham Hoa Hoang
(207) 707-2919
Source:
Startpoint
Added: Mar 10, 2025
Changed: Aug 28
Last Checked: Aug 28 at 11:24AM
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
Investment Insights
Based on property information with market context.
This medical office property occupies 1.99 acres and contains more than 4,000 square feet of commercial and living space. Constructed in 2004, the building is currently configured for veterinary use and includes five heat pumps for heating and cooling support.
An upper-level living area adds a bathroom and kitchen space; the kitchen does not include a stove. The property is zoned Commercial and offers highway access along with access to local amenities. Located at 88 Libby Hill Road in Oakland, Maine, the site combines a business-use layout with an integrated living component.
An upper-level living area adds a bathroom and kitchen space; the kitchen does not include a stove. The property is zoned Commercial and offers highway access along with access to local amenities. Located at 88 Libby Hill Road in Oakland, Maine, the site combines a business-use layout with an integrated living component.
Key Highlights
- 1.99‑acre commercial property at 88 Libby Hill Road, Oakland, ME 04963
- More than 4,000 square feet of commercial and living space
- Current veterinary‑use configuration
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
$41,822
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
7.82%
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%
$836,440
$836.4K
Cap Rate 7%
$597,457
$597.5K
Cap Rate 9%
$464,689
$464.7K
Market Conditions
NOI Build-Up for 4,054 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
$73.0K $18.00/SF
− Vacancy
−$6.1K −$1.49/SF
EGI
$66.9K $16.51/SF
− OpEx
−$25.1K −$6.19/SF
NOI
$41.8K $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 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%
$836,440
Cap Rate 7%
$597,457
Cap Rate 9%
$464,689
Alternative Uses
Best Use
Office B
$818.7K
$716.4K – $955.1K
NOI $57,308 @ 7.0% cap · market cap 10.71%
Second Best
Healthcare Medical
$783.7K
$685.7K – $914.3K
NOI $54,857 @ 7.0% cap · market cap 10.25%
Theoretical Best
Warehouse
$6.05M
$5.29M – $7.06M
NOI $423,372 @ 7.0% cap · market cap 79.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04963, ME
7,358
Population
4,279
Households
1.7
Avg Household Size
45
Median Age
24%
College-Educated
95%
High-School Grad
51.1 sq mi
ZIP Area
144
Density / Sq Mi
$73,611
Median Household Income
$49,913
Median Earnings
$885
Median Rent
$228,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Lakeside Veterinary Clinic: Sabean Eleanor C DVM — 88 Libby Hill Rd, Oakland, ME 04963
- Lakeside Veterinary Clinic: Marvelle Jennie DVM — 88 Libby Hill Rd, Oakland, ME 04963
Frequently Asked Questions
What type of property is this?
Medical Office Space - Commercially zoned property with an established veterinary layout and an upper-level residential component.
Where is this medical office space located?
The property is located at 88 Libby Hill Road Oakland, ME.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: 1.99‑acre commercial property at 88 Libby Hill Road, Oakland, ME 04963; More than 4,000 square feet of commercial and living space; Current veterinary‑use configuration
