North Yarmouth Mixed-Use
424 Walnut Hill Rd North Yarmouth, ME 04097
424 Walnut Hill Rd, North Yarmouth, ME, 04097
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For Sale
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Fully leased mixed-use property with restaurant, apartments, and event space.
Property Size6,832 SF
Price / SF$189.55
Days on Market836
Property Features for 424 Walnut Hill Rd
General Information
- Standard status
- Active
- Size
- 6,832 SF
- Property subtype
- Mixed Use, Multifamily, Retail
Building Details
- Year Built
- 1910
Listing agency
Malone Commercial Brokers
(207) 240-6844
Listed by
Karen Rich · License #ME 900465
Source
Crexi
Added: Apr 8, 2024 Updated: Jul 10 at 3:41PM Checked: Jul 19 at 6:48AM
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 Malone Commercial Brokers
Investment Insights
Based on property information with market context.
This fully leased property is located on Walnut Hill Road in North Yarmouth and includes two buildings. The first building is a two-story structure with 4,624 square feet. It features a 2,999-square-foot restaurant on the first floor and two apartments on the second floor. The second building is a barn and event center, consisting of 1,262 square feet on the first floor, with an additional 946 square feet of unfinished attic space. Significant updates have been completed in the past three years, including complete renovations of the barn, restaurant, and the two-bedroom apartment. The main building had a new shingle roof placed in December 2023. The total property size is 6,832 square feet.
Key Highlights
- Fully leased property providing immediate income
- Significant renovations completed in the past three years on the Barn, Restaurant, and two‑bedroom Apartment
- Two buildings: a 4,624± SF main building with a restaurant and two apartments, and a 1,262± SF barn/event center with additional unfinished attic space
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $147.6k | $21.60 |
| − Vacancy | −$11.8k | −$1.73 |
| EGI | $135.8k | $19.87 |
| − OpEx | −$50.9k | −$7.45 |
| NOI | $84.9k | $12.42 |
6,832 SF · lease $21.60/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$1.21M
$1.06M – $1.41M
NOI $84,853 @ 7.0% cap · market cap 6.55%
Second Best
Specialty Retail
$1.09M
$956.9K – $1.28M
NOI $76,553 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$1.88M
$1.64M – $2.19M
NOI $131,445 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Trudy Bird's Ølbar
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Fully leased mixed-use property with restaurant, apartments, and event space.
Where is this mixed-use property located?
The property is located at 424 Walnut Hill Rd North Yarmouth, ME.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Fully leased property providing immediate income; Significant renovations completed in the past three years on the Barn, Restaurant, and two‑bedroom Apartment; Two buildings: a 4,624± SF main building with a restaurant and two apartments, and a 1,262± SF barn/event center with additional unfinished attic space
