Flex Space with Shop
For Sale
$310,000
74 Route 133, Winthrop, ME 04364
Commercial Sale, Winthrop, ME
Property Size3,470 SF
Lot Size0.26 Acres
Price / SF$89.34
Days on Market69
Property Features for 74 Route 133
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Village
Parking features
On Street
Lot features
Near Turnpike/ Interstate, Near Airport, Downtown, Business District, Near Shopping, Retail Strip, Shopping Mall
Standard status
Active
Size
3,470 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2723
Utilities
Sewer type
Public Sewer
Heating system
None (Heating), Forced Air, Radiant
Water source
Public
Amenities
14-foot ceilings
radiant floor heating
three-phase power
parking area
office
bathroom
Building Details
Year built
1973
Flooring type
Concrete
Building materials
Wood Frame, Aluminum Siding
Roof type
Flat, Metal
Listing Agency:
LAER
(207) 622-2220
Listed By:
John Blouin
(207) 446-7708
Added: Jun 24
Changed: Aug 19
Last Checked: Aug 31 at 11:06AM
MLS# 1659310
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 flex-space building offers a multi-area commercial layout with 3,100 square feet of usable first-floor space. The lower level includes four shop areas, an office, and a bathroom, with 14-foot ceilings supporting a range of operational needs. Two shop areas contain in-floor radiant heating that requires a heat source. A wide staircase connects to two additional upper-level areas, while approximately 2,400 square feet remains unfinished for future buildout. The building was last used for auto repair and sales and includes concrete flooring, wood-frame construction, aluminum siding, and a flat metal roof.
Located on Route 133 in downtown Winthrop, the property is zoned Village and served by public water and public sewer. Three-phase power is available at the street. The building was constructed in 1973 and includes forced-air and radiant heating systems, along with areas currently listed without heating.
Located on Route 133 in downtown Winthrop, the property is zoned Village and served by public water and public sewer. Three-phase power is available at the street. The building was constructed in 1973 and includes forced-air and radiant heating systems, along with areas currently listed without heating.
Key Highlights
- 3,100 square feet of usable first‑floor space
- Four shop areas plus an office and bathroom on the first floor
- 14‑foot first‑floor ceilings
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
$21,905
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
7.07%
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%
$438,100
$438.1K
Cap Rate 7%
$312,929
$312.9K
Cap Rate 9%
$243,389
$243.4K
Market Conditions
NOI Build-Up for 3,470 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
$34.6K $9.96/SF
− Vacancy
−$861 −$0.25/SF
EGI
$33.7K $9.71/SF
− OpEx
−$11.8K −$3.40/SF
NOI
$21.9K $6.31/SF
Area
Kennebec County, ME
Vacancy
2.49%
Lease Rate
$9.96 /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%
$438,100
Cap Rate 7%
$312,929
Cap Rate 9%
$243,389
Alternative Uses
Best Use
Industrial
$4.26M
$3.73M – $4.97M
NOI $298,433 @ 7.0% cap · market cap 96.27%
Second Best
Retail
$478.7K
$418.9K – $558.5K
NOI $33,509 @ 7.0% cap · market cap 10.81%
Theoretical Best
Warehouse
$5.18M
$4.53M – $6.04M
NOI $362,383 @ 7.0% cap · market cap 116.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
257
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 04364, ME
6,115
Population
3,342
Households
1.8
Avg Household Size
47
Median Age
37%
College-Educated
98%
High-School Grad
31.1 sq mi
ZIP Area
197
Density / Sq Mi
$82,858
Median Household Income
$44,602
Median Earnings
$1,031
Median Rent
$273,100
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 - Village-zoned commercial building with multiple work areas, office space, and expansion capacity across two levels.
Where is this flex space located?
The property is located at 74 Route 133 Winthrop, ME.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 3,100 square feet of usable first‑floor space; Four shop areas plus an office and bathroom on the first floor; 14‑foot first‑floor ceilings
