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 Market8
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
(207) 495-2500
Listed By:
Erin Davis DiPietrantonio
Source:
603luxury
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 29 at 12:07PM
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 = 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
$25,784
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
8.19%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
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 - 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
