Renovated Mixed-Use
For Sale
$4,100,000
34 Abbott Street, Brewer, ME 04412
Commercial Sale, Brewer, ME
Property Size47,451 SF
Lot Size6.01 Acres
Price / SF$86.40
Days on Market57
Property Features for 34 Abbott Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking features
Offsite
Accessibility
Accessible Approach with Ramp
Lot features
Near Turnpike/ Interstate, Near Airport, Business District, Bus Line, Industrial Park, Near Shopping
Standard status
Active
Size
47,451 SF
Lot size
6.01 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
54909
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
on-site coin laundry
dishwasher
ice maker
Building Details
Year built
1955
Number of units
13
Flooring type
Concrete
Building materials
Masonry, Brick
Roof type
Flat, Membrane
Listing Agency:
Pro Realty
(207) 947-6463
Listed By:
David Giroux
(207) 745-8118
Added: Jul 10
Changed: Sep 2
Last Checked: Sep 4 at 7:06PM
MLS# 1665525
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.
Renovated in 2012, this 47,451-square-foot mixed-use property occupies 6.01 acres and includes 13 commercial suites leased to 7 tenants. The second floor contains 4 apartments: 3 two-bedroom units and 1 one-bedroom unit. Apartment amenities include dishwashers and ice makers, while an on-site coin laundry serves the residential component.
The property has maintained a 98% occupancy rate for 14 years. Tenants separately pay for heat, lighting, air conditioning, and electricity. Construction includes masonry and brick, with concrete flooring, flat membrane roofing, natural gas and heat-pump heating, and central air conditioning. Public water and sewer serve the property, and an accessible approach with ramp is provided. Parking is located offsite.
The property has maintained a 98% occupancy rate for 14 years. Tenants separately pay for heat, lighting, air conditioning, and electricity. Construction includes masonry and brick, with concrete flooring, flat membrane roofing, natural gas and heat-pump heating, and central air conditioning. Public water and sewer serve the property, and an accessible approach with ramp is provided. Parking is located offsite.
Key Highlights
- 47,451 square feet on 6.01 acres
- 13 commercial suites occupied by 7 commercial tenants
- 4 second‑floor apartments: 3 two‑bedroom and 1 one‑bedroom
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
$340,046
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
8.29%
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%
$6,800,920
$6.8M
Cap Rate 7%
$4,857,800
$4.9M
Cap Rate 9%
$3,778,289
$3.8M
Market Conditions
NOI Build-Up for 47,451 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
$597.9K $12.60/SF
− Vacancy
−$53.8K −$1.13/SF
EGI
$544.1K $11.47/SF
− OpEx
−$204.0K −$4.30/SF
NOI
$340.0K $7.17/SF
Area
Penobscot County, ME
Vacancy
9.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
37.50%
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%
$6,800,920
Cap Rate 7%
$4,857,800
Cap Rate 9%
$3,778,289
Alternative Uses
Best Use
Apartment 5plus
$5.71M
$5.00M – $6.67M
NOI $399,958 @ 7.0% cap · market cap 9.76%
Second Best
Mixed Use
$4.86M
$4.25M – $5.67M
NOI $340,046 @ 7.0% cap · market cap 8.29%
Theoretical Best
Office A
$15.33M
$13.41M – $17.88M
NOI $1,072,772 @ 7.0% cap · market cap 26.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13
Office units
4
Residential units
98%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
255
Businesses Nearby
Explore this area
Business Placement
Demographics for 04412, ME
9,672
Population
4,565
Households
2.1
Avg Household Size
43
Median Age
31%
College-Educated
95%
High-School Grad
15.2 sq mi
ZIP Area
636
Density / Sq Mi
$51,490
Median Household Income
$35,700
Median Earnings
$984
Median Rent
$218,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial zoning combines occupied business suites with second-floor apartments.
Where is this mixed-use property located?
The property is located at 34 Abbott Street Brewer, ME.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: 47,451 square feet on 6.01 acres; 13 commercial suites occupied by 7 commercial tenants; 4 second‑floor apartments: 3 two‑bedroom and 1 one‑bedroom
