Building Details

Year built 2006

Flooring type Concrete, Tile

Building materials Steel Frame, Metal Clad

Roof type Metal

Listing Agency: Realty of Maine j***@realtyofmaine.com Show Phone

Listed By: John Bettis Show Phone

Added: Jul 7 Changed: Sep 12 Last Checked: Sep 13 at 4:06PM

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MLS# 1651715

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 2,248-square-foot flex building, constructed in 2006, includes a large showroom and waiting area, a half bath, and an attached 44-by-32-foot garage. The garage provides space for storage or operations, while the paved yard offers parking and exterior work area. Steel-frame construction, metal cladding, a metal roof, concrete and tile flooring, and oil heat complete the improvements.

The property comprises 3 acres at 55 Lagrange Road in Howland, just off I-95. Public water and public sewer serve the building. The site is zoned Residential B.

Key Highlights

• 2,248‑square‑foot flex building on 3 acres
• Attached 44x32 garage for storage or operations
• Large showroom and waiting area with 1/2 bath

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

$19,387

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

8.62%

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%

$387,740 $387.7K

Cap Rate 7%

$276,957 $277.0K

Cap Rate 9%

$215,411 $215.4K

Market Conditions

NOI Build-Up for 2,248 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

$31.6K $14.04/SF

− Vacancy

−$1.7K −$0.77/SF

EGI

$29.8K $13.27/SF

− OpEx

−$10.4K −$4.64/SF

NOI

$19.4K $8.62/SF

Area

Penobscot County, ME

Vacancy

5.50%

Lease Rate

$14.04 /SF/Yr

Expense Ratio

35.00%

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%

$387,740

Cap Rate 7%

$276,957

Cap Rate 9%

$215,411

Alternative Uses

Best Use

Flex RnD

$277.0K

$242.3K – $323.1K (±1% cap)

NOI $19,387 @ 7.0% cap · market cap 8.62%

Second Best

Retail

$268.7K

$235.1K – $313.5K (±1% cap)

NOI $18,808 @ 7.0% cap · market cap 8.36%

Theoretical Best

Office A

$726.0K

$635.3K – $847.1K (±1% cap)

NOI $50,823 @ 7.0% cap · market cap 22.59%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Cafe & Coffee Shop Hair Salon Nail Salon Daycare Center (Bike/Boat/Book/etc) Store Food Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

47

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 04448, ME

1,265

Population

692

Households

1.8

Avg Household Size

52

Median Age

14%

College-Educated

92%

High-School Grad

93.9 sq mi

ZIP Area

13

Density / Sq Mi

$48,958

Median Household Income

$34,444

Median Earnings

$938

Median Rent

$115,600

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 flex space 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?

Flex space - Commercial property with showroom, waiting area, paved yard, and public utilities near I-95.

Where is this flex space located?

The property is located at 55 Lagrange Road Howland, ME.

What is the asking price?

The asking price for this property is $225,000.

What are key features of this property?

This property features: 2,248‑square‑foot flex building on 3 acres; Attached 44x32 garage for storage or operations; Large showroom and waiting area with 1/2 bath