Updated City Center
For Sale
$295,000
394 Main Street, Westbrook, ME 04092
City Center-zoned storefront with recent building improvements and proximity to Westbrook’s commercial district.
Property Size960 SF
Days on Market778
Property Features for 394 Main Street
General Information
Standard status
Active
Size
960 SF
Property subtype
Commercial
Zoning
City Center
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,542
Building Details
Building Size
960 SF
Year Built
1945
Listing Agency:
EXP Realty
(207) 929-0956
Listed By:
John Krouse
(207) 929-0956
Source:
Startpoint
Added: Jun 26, 2024
Changed: Aug 8
Last Checked: Aug 11 at 1:55PM
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 EXP Realty
Investment Insights
Based on property information with market context.
This storefront property dates to 1945 and has undergone updates within the last 2 years. Improvements include a new roof, siding, flooring, paint, windows, and bathroom work, providing a refreshed physical platform for continued commercial use. The source information identifies potential applications including retail, office, restaurant, and mixed-use development.
The property is located at 394 Main Street in Westbrook, Maine, within the Westbrook City Center area. Rock Row is approximately 1 mile away, and the property is positioned on Maine Street, one of the city’s busy commercial corridors. City Center zoning supports the property’s location within an established commercial setting.
The property is located at 394 Main Street in Westbrook, Maine, within the Westbrook City Center area. Rock Row is approximately 1 mile away, and the property is positioned on Maine Street, one of the city’s busy commercial corridors. City Center zoning supports the property’s location within an established commercial setting.
Key Highlights
- Updated within the last 2 years
- New roof, siding, flooring, paint, windows, and bathroom
- City Center zoning
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
$10,040
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
3.40%
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%
$200,800
$200.8K
Cap Rate 7%
$143,429
$143.4K
Cap Rate 9%
$111,556
$111.6K
Market Conditions
NOI Build-Up for 960 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
$17.3K $18.00/SF
− Vacancy
−$2.9K −$3.06/SF
EGI
$14.3K $14.94/SF
− OpEx
−$4.3K −$4.48/SF
NOI
$10.0K $10.46/SF
Area
Cumberland County, ME
Vacancy
17.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$200,800
Cap Rate 7%
$143,429
Cap Rate 9%
$111,556
Alternative Uses
Best Use
Retail
$143.4K
$125.5K – $167.3K
NOI $10,040 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$263.9K
$230.9K – $307.8K
NOI $18,470 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
6k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 48%
SUBWAY
Dining
3,054 visits/mo
0.5 miles
Lee Dodge Chrysler Jeep Ram
Shops & Services
2,811 visits/mo
0.4 miles
Demographics for 04092, ME
20,400
Population
9,404
Households
2.2
Avg Household Size
40
Median Age
40%
College-Educated
96%
High-School Grad
17.2 sq mi
ZIP Area
1,186
Density / Sq Mi
$85,868
Median Household Income
$49,922
Median Earnings
$1,373
Median Rent
$341,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Harmon's Floral Company — 117 Brown St, Westbrook, ME 04092
Frequently Asked Questions
What type of property is this?
Storefront property - City Center-zoned storefront with recent building improvements and proximity to Westbrook’s commercial district.
Where is this storefront property located?
The property is located at 394 Main Street Westbrook, ME.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Updated within the last 2 years; New roof, siding, flooring, paint, windows, and bathroom; City Center zoning
