Building Details

Building Size 8,600 SF

Year Built 2002

Stories 1

Listing Agency: Holt Realty

Listed By: Corinne Holt Show Phone

Source: Amerorealty

Added: Dec 15, 2023 Changed: Oct 31 Last Checked: Oct 31 at 2:40PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Holt Realty

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Investment Insights

Based on property information with market context.

This flex property in Windham includes office space, an insulated warehouse, and a covered open-air storage or parking area. The warehouse has drive-through access, 20' x 18' doors, 30' ceilings, radiant heat, and a steel-beam lift system rated for up to 1.5 tons. Office features include a reception area, three offices or conference rooms, one half bath, one full bath, and washer and dryer hookups. The office has radiant and propane heat, plus air conditioning.

The property occupies more than 6 acres on a quiet lot near the heart of Windham, with room for additional buildings and parking. It was built in 2002 and is zoned Industrial.

Key Highlights

• More than 6 acres with room for additional buildings and parking
• Drive‑through warehouse access with 20' x 18' doors and 30' ceilings
• Steel‑beam lift system rated for up to 1.5 tons

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$66,825

Cap Rate

7.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,336,500 $1.3M

Cap Rate 7%

$954,643 $954.6K

Cap Rate 9%

$742,500 $742.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,600 SF

Gross rent

$81.5K $9.48/SF

− Vacancy

−$2.9K −$0.34/SF

EGI

$78.6K $9.14/SF

− OpEx

−$11.8K −$1.37/SF

NOI

$66.8K $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 Rate 5%

$1,336,500

Cap Rate 7%

$954,643

Cap Rate 9%

$742,500

Alternative Uses

Best Use

Warehouse

$954.6K

$835.3K – $1.11M (±1% cap)

NOI $66,825 @ 7.0% cap · market cap 7.87%

Second Best

Industrial

$786.2K

$687.9K – $917.2K (±1% cap)

NOI $55,032 @ 7.0% cap · market cap 6.48%

Theoretical Best

Office A

$2.36M

$2.07M – $2.76M (±1% cap)

NOI $165,460 @ 7.0% cap · market cap 19.49%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Mc Goldrick Brothers ... General Contractor

Suggested Use

Top Pick HVAC Service Auto Repair Shop Plumbing Service Storage Facility Grocery & Convenience Store Hair Salon

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

30 ft

Clear height

Location Intelligence

Trade Area within ½ mile

42

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 04062, ME

18,464

Population

8,695

Households

2.1

Avg Household Size

42

Median Age

42%

College-Educated

98%

High-School Grad

46.7 sq mi

ZIP Area

395

Density / Sq Mi

$98,946

Median Household Income

$57,505

Median Earnings

$1,189

Median Rent

$370,900

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

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Frequently Asked Questions

What type of property is this?

Flex space - Office and warehouse areas combine with covered storage, radiant heat, and room for additional buildings or parking.

Where is this flex space located?

The property is located at 11 Cherry Lane Windham, ME.

What is the asking price?

The asking price for this property is $849,000.

What are key features of this property?

This property features: More than 6 acres with room for additional buildings and parking; Drive‑through warehouse access with 20' x 18' doors and 30' ceilings; Steel‑beam lift system rated for up to 1.5 tons