Building Details

Year built 1997

Number of units 5

Flooring type Concrete

Building materials Brick

Roof type Shingle

Listing Agency: Better Homes & Gardens Real Estate/The Masiello Group · Better Homes and Gardens Real Estate m***@masiello.com Show Phone

Listed By: Melissa Bartlett Show Phone

Added: Oct 27 Last Checked: Oct 27 at 7:06PM

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MLS# 1685845

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.

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Investment Insights

Based on property information with market context.

This car wash includes five bays and four vacuum stations. The 2,821-square-foot property occupies 0.65 acres at 120 Main Street in Newport. Built in 1997, the building has brick construction, concrete flooring, oil heat, a shingle roof, and public water service.

The property is zoned Village Comm. Its Main Street address places it within Newport; no additional surrounding-site details are specified.

Key Highlights

• Five‑bay car wash on a 0.65‑acre lot
• Four vacuum stations
• 2,821‑square‑foot property at 120 Main Street, Newport

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,617

Cap Rate

8.75%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$332,340 $332.3K

Cap Rate 7%

$237,386 $237.4K

Cap Rate 9%

$184,633 $184.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,821 SF

Gross rent

$25.4K $9.00/SF

− Vacancy

−$1.7K −$0.59/SF

EGI

$23.7K $8.42/SF

− OpEx

−$7.1K −$2.52/SF

NOI

$16.6K $5.89/SF

Area

Penobscot County, ME

Vacancy

6.50%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$332,340

Cap Rate 7%

$237,386

Cap Rate 9%

$184,633

Alternative Uses

Best Use

Specialty Retail

$549.0K

$480.4K – $640.5K (±1% cap)

NOI $38,430 @ 7.0% cap · market cap 20.24%

Second Best

Retail

$337.2K

$295.0K – $393.4K (±1% cap)

NOI $23,602 @ 7.0% cap · market cap 12.43%

Theoretical Best

Office A

$911.1K

$797.2K – $1.06M (±1% cap)

NOI $63,777 @ 7.0% cap · market cap 33.58%

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

Property Analytics

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Current Use

Car washes

Suggested Use

Top Pick Plumbing Service Storage Facility Garden Center Locksmith Parking Lot & Garage Kitchen & Bath Showroom

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

Paved road access

Location Intelligence

Trade Area within ½ mile

299

Businesses Nearby

52k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 33% Shops & Services 28% Groceries 27% Home Improvements & Furnishings 10%

Hannaford Groceries

14,269 visits/mo 0.5 miles

Taco Bell Dining

8,617 visits/mo 0.4 miles

Aroma Joe's Dining

8,447 visits/mo 0.4 miles

Shell Shops & Services

6,989 visits/mo 0.3 miles

Aubuchon Hardware Home Improvements & Furnishings

5,192 visits/mo 0.3 miles

Demographics for 04953, ME

3,139

Population

1,830

Households

1.7

Avg Household Size

47

Median Age

29%

College-Educated

92%

High-School Grad

29.5 sq mi

ZIP Area

106

Density / Sq Mi

$62,708

Median Household Income

$46,538

Median Earnings

$884

Median Rent

$213,400

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Similar For Sale Nearby

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Duplex With Two-Car Garage

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$165,000

2,000 SF

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Automotive Service Shop with Equipment

146 Main Street, Newport, ME 04953

$250,000

1,956 SF

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Frequently Asked Questions

What type of property is this?

Car wash - Four vacuum stations complement the property's vehicle-wash facilities.

Where is this car wash located?

The property is located at 120 Main Street Newport, ME.

What is the asking price?

The asking price for this property is $189,900.

What are key features of this property?

This property features: Five‑bay car wash on a 0.65‑acre lot; Four vacuum stations; 2,821‑square‑foot property at 120 Main Street, Newport