Updated Office Property with
For Sale
$315,000
89 Western Ave, Augusta, ME 04330
Flexible commercial and residential setting with ramp access, on-site parking, and multiple updates.
Property Size1,824 SF
Price / SF$172.70
Days on Market54
Property Features for 89 Western Ave
General Information
Standard status
Active
Size
1,824 SF
Amenities
accessible ramped entrance
pellet stove
Building Details
Year Built
1900
Listing Agency:
Lakehome Group Real Estate
Listed By:
Erin Davis DiPietrantonio
(207) 495-2500
Source:
603luxury
Added: Aug 23
Changed: Oct 7
Last Checked: Oct 7 at 5:08PM
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 Lakehome Group Real Estate
Investment Insights
Based on property information with market context.
This office property combines a professional setting with residential character and has been maintained with several recent improvements. The building includes an accessible ramped entry, a new oil tank, a pellet stove, and on-site parking. Its current use as a Healing Arts practice demonstrates an established professional application, while the layout may accommodate office, counseling, wellness, accounting, or legal services as supported by the existing property information.
Built in 1900, the property is located at 89 Western Ave in Augusta, Maine, along Western Avenue with visibility described as outstanding and traffic characterized as busy. The combination of updated building systems, accessible entry, parking, and a prominent street setting provides a practical base for a business seeking an office location with distinctive character.
Built in 1900, the property is located at 89 Western Ave in Augusta, Maine, along Western Avenue with visibility described as outstanding and traffic characterized as busy. The combination of updated building systems, accessible entry, parking, and a prominent street setting provides a practical base for a business seeking an office location with distinctive character.
Key Highlights
- 1,824 property size with office and residential components
- Built in 1900
- Current Healing Arts practice use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,784
Cap Rate
8.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$515,680
$515.7K
Cap Rate 7%
$368,343
$368.3K
Cap Rate 9%
$286,489
$286.5K
Market Conditions
NOI Build-Up for 1,824 SF
Gross rent
$39.4K $21.60/SF
− Vacancy
−$5.0K −$2.75/SF
EGI
$34.4K $18.85/SF
− OpEx
−$8.6K −$4.71/SF
NOI
$25.8K $14.14/SF
Area
Kennebec County, ME
Vacancy
12.74%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$515,680
Cap Rate 7%
$368,343
Cap Rate 9%
$286,489
Alternative Uses
Best Use
Office B
$368.3K
$322.3K – $429.7K
NOI $25,784 @ 7.0% cap · market cap 8.19%
Second Best
Mixed Use
$268.8K
$235.2K – $313.6K
NOI $18,817 @ 7.0% cap · market cap 5.97%
Theoretical Best
Warehouse
$2.72M
$2.38M – $3.17M
NOI $190,486 @ 7.0% cap · market cap 60.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
871
Businesses Nearby
Explore this area
Business Placement
Demographics for 04330, ME
26,322
Population
13,017
Households
2
Avg Household Size
44
Median Age
28%
College-Educated
95%
High-School Grad
116.9 sq mi
ZIP Area
225
Density / Sq Mi
$55,158
Median Household Income
$43,177
Median Earnings
$912
Median Rent
$197,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office units - Flexible commercial and residential setting with ramp access, on-site parking, and multiple updates.
Where is this office units located?
The property is located at 89 Western Ave Augusta, ME.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1,824 property size with office and residential components; Built in 1900; Current Healing Arts practice use
