Insulated Flex Building with
For Sale
$303,250
177 Town Farm Road, Harrison, ME 04040
Commercial Sale, Harrison, ME
Property Size1,904 SF
Lot Size1.15 Acres
Price / SF$159.27
Days on Market46
Property Features for 177 Town Farm Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Standard Use
Interior features
Storage
Lot features
Near Shopping, Rural
Standard status
Active
Size
1,904 SF
Lot size
1.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1236
Utilities
Sewer type
Septic Tank, Private Sewer
Water source
Well, Private
Amenities
full bathroom
loft library
RV hookup
private well
septic system
Building Details
Year built
1997
Flooring type
Vinyl
Building materials
Wood Frame, Metal Clad
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Kezar Realty
(207) 925-1500
Listed By:
Pamela Sessions
(207) 740-6351
Added: Jul 15
Changed: Aug 19
Last Checked: Aug 29 at 6:06PM
MLS# 1672062
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,904-square-foot flex building sits on 1.15 acres and combines a fully insulated, sheet-rocked garage with an addition completed in 2014 for storage or workshop use. The interior offers 16-foot ceilings, a loft library, vinyl flooring, a full bathroom, and two automatic garage doors measuring 12 feet and 14 feet. Construction includes wood framing with metal cladding, a metal roof, and 220-amp power.
The property is served by a private well and septic system. An RV hookup provides power, water, and sewer, while the Harrison setting places the building near lakes and recreational opportunities. The parcel also provides room for parking, work activities, and future expansion. Any conversion or additional use is subject to local zoning and municipal approvals.
The property is served by a private well and septic system. An RV hookup provides power, water, and sewer, while the Harrison setting places the building near lakes and recreational opportunities. The parcel also provides room for parking, work activities, and future expansion. Any conversion or additional use is subject to local zoning and municipal approvals.
Key Highlights
- 1,904‑square‑foot flex building on 1.15 acres
- 34' x 50' insulated, sheet‑rocked garage with a 2014 storage/workshop addition
- 16‑foot interior ceilings with 12‑foot and 14‑foot automatic garage doors
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
$14,795
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
4.88%
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%
$295,900
$295.9K
Cap Rate 7%
$211,357
$211.4K
Cap Rate 9%
$164,389
$164.4K
Market Conditions
NOI Build-Up for 1,904 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
$18.0K $9.48/SF
− Vacancy
−$644 −$0.34/SF
EGI
$17.4K $9.14/SF
− OpEx
−$2.6K −$1.37/SF
NOI
$14.8K $7.77/SF
Area
Cumberland County, ME
Vacancy
3.57%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$295,900
Cap Rate 7%
$211,357
Cap Rate 9%
$164,389
Alternative Uses
Best Use
Warehouse
$211.4K
$184.9K – $246.6K
NOI $14,795 @ 7.0% cap · market cap 4.88%
Second Best
Industrial
$174.1K
$152.3K – $203.1K
NOI $12,184 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$523.3K
$457.9K – $610.5K
NOI $36,632 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04040, ME
2,853
Population
2,128
Households
1.3
Avg Household Size
52
Median Age
32%
College-Educated
94%
High-School Grad
62.0 sq mi
ZIP Area
46
Density / Sq Mi
$58,267
Median Household Income
$40,176
Median Earnings
$795
Median Rent
$243,600
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Insulated flex property with workshop space, high ceilings, utility service, and a full bathroom.
Where is this flex space located?
The property is located at 177 Town Farm Road Harrison, ME.
What is the asking price?
The asking price for this property is $303,250.
What are key features of this property?
This property features: 1,904‑square‑foot flex building on 1.15 acres; 34' x 50' insulated, sheet‑rocked garage with a 2014 storage/workshop addition; 16‑foot interior ceilings with 12‑foot and 14‑foot automatic garage doors
