Building Details

Year built 2025

Number of units 2

Flooring type Concrete

Building materials Steel Frame, Metal Clad

Roof type Metal

Additional Structures Storage

Listing Agency: Harborview Properties, Inc. i***@harborviewproperties.com Show Phone

Listed By: Susan Fitzpatrick Show Phone

Added: Sep 11 Changed: Sep 12 Last Checked: Sep 12 at 2:06PM

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MLS# 1680177

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 warehouse property includes two steel-frame, metal-clad buildings. One is a 10,000-square-foot clear-span structure with bathrooms, while the other contains 5,500 square feet of warehouse space along with an office and apartment. Concrete flooring, metal roofing, heat-pump systems, propane heating, and storage areas are part of the existing improvements.

The property encompasses 26 acres in Arundel and is zoned ARD. On-site water is provided by a well, with septic service supporting the buildings. The site includes substantial parking and is positioned near shopping and the turnpike. Expansion possibilities are identified in the property information, with the buildings currently listed as under construction and a 2025 year built.

Key Highlights

• 10,000‑square‑foot clear‑span steel building with bathrooms
• 5,500‑square‑foot warehouse with office and apartment
• 26‑acre commercial property in Arundel

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

$184,321

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

4.34%

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%

$3,686,420 $3.7M

Cap Rate 7%

$2,633,157 $2.6M

Cap Rate 9%

$2,048,011 $2.0M

Market Conditions

NOI Build-Up for 14,720 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

$220.8K $15.00/SF

− Vacancy

−$4.0K −$0.27/SF

EGI

$216.8K $14.73/SF

− OpEx

−$32.5K −$2.21/SF

NOI

$184.3K $12.52/SF

Area

York County, ME

Vacancy

1.79%

Lease Rate

$15.00 /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%

$3,686,420

Cap Rate 7%

$2,633,157

Cap Rate 9%

$2,048,011

Alternative Uses

Best Use

Warehouse

$2.63M

$2.30M – $3.07M (±1% cap)

NOI $184,321 @ 7.0% cap · market cap 4.34%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$4.67M

$4.08M – $5.44M (±1% cap)

NOI $326,632 @ 7.0% cap · market cap 7.69%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Warehouses

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

13

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 04046, ME

7,893

Population

4,740

Households

1.7

Avg Household Size

51

Median Age

41%

College-Educated

98%

High-School Grad

44.4 sq mi

ZIP Area

178

Density / Sq Mi

$99,861

Median Household Income

$43,000

Median Earnings

$1,250

Median Rent

$559,900

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Warehouse - Two steel structures provide warehouse, office, apartment, bathroom, and storage components on a large commercial tract.

Where is this warehouse located?

The property is located at 18 Heavy Hammer Lane Arundel, ME.

What is the asking price?

The asking price for this property is $4,250,000.

What are key features of this property?

This property features: 10,000‑square‑foot clear‑span steel building with bathrooms; 5,500‑square‑foot warehouse with office and apartment; 26‑acre commercial property in Arundel