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    Automotive Business and Real Estate Title is generated by Realmo AI

    1235 US Rte 202, Winthrop, ME

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    Turnkey opportunity with real estate and established automotive businesses.

    Type:SPECIALTY
    Property size:
    8,784 SF
    Lot size:
    2.00 Acres
    Price / SF:
    $190/SF
    Added:
    May 23, 2025
    Days on Market:
    370
    Last Refresh:
    May 19 at 9:58 pm

    Property Features for 1235 US Rte 202

    General Information

    Standard status
    Active
    Size
    8,784 SF
    Lot size
    2.00 Acres
    Property subtype
    SPECIALTY

    We can help!

    Listing Contact
    John Blouin
    John Blouin

    Listing agent John Blouin

    Listing office LAER Realty Partners

    Listing date May 23, 2025

    Source Moodyscre

    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 LAER Realty Partners

    HighLights

    • Turnkey opportunity: Prime commercial real estate with two established automotive businesses.
    • Well‑maintained property: Features a 2012 Butler Sheraton main building and multiple outbuildings on a 2‑acre parcel.
    • Includes all equipment, office furnishings, and chattels integral to daily automotive operations.
    • Property developed with environmental care, meeting all Cobbossee Watershed and phosphorus control requirements.
    • Connected to new water and sewer lines.
    • Opportunity to purchase existing vehicles and potential partnership with the current owner.

    Overview

    This offering includes a real estate property and two automotive businesses: Columbia Classic Cars, Inc. and New World Engine Inc. The Winada Associates property is situated on a 2-acre parcel and includes a 2012 Butler Sheraton main building, two outbuildings (gray and white), a metal shed, and a small wooden structure. The property was developed with environmental care, meeting all Cobbossee Watershed and phosphorus control requirements. Engineering was completed by Thayer Associates, and construction by Dan Webb. The site is connected to new water and sewer lines. Columbia Classic Cars, Inc. has operated since 2005, while New World Engine Inc. carries a legacy from the 1990s. The sale includes all equipment, office furnishings, and chattels integral to daily operations. The shop closed to the public in February 2024 but remains well-equipped and ready for immediate startup as a restoration facility, paint and body shop, machine shop, or general automotive service center. The property offers 8784 square feet of space. The current owner has several vehicles on-site in various stages of restoration and is open to negotiating their sale. He is also willing to partner with a qualified buyer to complete restorations already in progress. This turnkey opportunity is suited for automotive professionals seeking a ready-made platform in a functional setting.
    Property Profile Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Columbia Classic Cars — 1235 US-202, Winthrop, ME 04364
    • winthrop auto repair — 1354 ME-100, Winthrop, ME 04364
    • Gene's Auto Repair — 1088 US-202, North Monmouth, ME 04265

    Location Insight

    • Map
    • Local Demand
    City
    Winthrop
    County
    Kennebec
    State
    Maine
    Longitude
    -70.0031
    Latitude
    44.2811

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    FAQs

    What type of property is this?
    Auto shop - Turnkey opportunity with real estate and established automotive businesses.
    Where is this auto shop located?
    The property is located at 1235 US Rte 202 Winthrop, ME.
    What is the asking price?
    The asking price for this property is $1,675,000.
    What are key features of this property?
    This property features: Turnkey opportunity: Prime commercial real estate with two established automotive businesses.; Well‑maintained property: Features a 2012 Butler Sheraton main building and multiple outbuildings on a 2‑acre parcel.; Includes all equipment, office furnishings, and chattels integral to daily automotive operations.
    (207) 446-7708 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing John Blouin
    John Blouin
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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