Auto Shop with Updated
For Sale
$169,900
400 S Main Street, Brewer, ME 04412
CB-zoned property near the interstate with substantial 2024 interior improvements.
Property Size1,582 SF
Days on Market1126
Property Features for 400 S Main Street
General Information
Standard status
Active
Size
1,582 SF
Property subtype
Commercial
Zoning
CB
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,115
Building Details
Building Size
1,582 SF
Year Built
1951
Year Renovated
2024
Stories
1
Listing Agency:
CENTURY 21 Queen City Real Estate
(207) 478-9562
Listed By:
Karen Burns
(207) 478-9562
Source:
Startpoint
Added: Jul 12, 2023
Changed: Aug 10
Last Checked: Aug 10 at 12:06PM
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 CENTURY 21 Queen City Real Estate
Investment Insights
Based on property information with market context.
This auto shop property at 400 S Main Street in Brewer was substantially rebuilt internally in 2024. Work included removal of most interior finishes, installation of new wall and ceiling insulation, replacement electrical wiring and panel, new plumbing, new interior partitions through most of the building, and comprehensive interior painting. The front office ceiling still requires cosmetic attention.
One fuel tank and its pumps remain to be removed. Insurance is documented for potential leakage discovered during that work. Before occupancy, the City of Brewer requires the new owner to complete a property survey and site plan. The property is zoned CB, was built in 1951, and sits near the interstate in a high-traffic area.
One fuel tank and its pumps remain to be removed. Insurance is documented for potential leakage discovered during that work. Before occupancy, the City of Brewer requires the new owner to complete a property survey and site plan. The property is zoned CB, was built in 1951, and sits near the interstate in a high-traffic area.
Key Highlights
- 2024 interior reconstruction included new insulation, electrical wiring and panel, plumbing, walls, and paint
- CB zoning
- One fuel tank and pumps require removal; documented insurance covers potential leakage
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
$13,236
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
7.79%
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%
$264,720
$264.7K
Cap Rate 7%
$189,086
$189.1K
Cap Rate 9%
$147,067
$147.1K
Market Conditions
NOI Build-Up for 1,582 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
$22.8K $14.40/SF
− Vacancy
−$3.9K −$2.45/SF
EGI
$18.9K $11.95/SF
− OpEx
−$5.7K −$3.59/SF
NOI
$13.2K $8.37/SF
Area
Penobscot County, ME
Vacancy
17.00%
Lease Rate
$14.40 /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%
$264,720
Cap Rate 7%
$189,086
Cap Rate 9%
$147,067
Alternative Uses
Best Use
Retail
$189.1K
$165.5K – $220.6K
NOI $13,236 @ 7.0% cap · market cap 7.79%
Second Best
Industrial
$133.1K
$116.5K – $155.3K
NOI $9,319 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$510.9K
$447.1K – $596.1K
NOI $35,766 @ 7.0% cap · market cap 21.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04412, ME
9,672
Population
4,565
Households
2.1
Avg Household Size
43
Median Age
31%
College-Educated
95%
High-School Grad
15.2 sq mi
ZIP Area
636
Density / Sq Mi
$51,490
Median Household Income
$35,700
Median Earnings
$984
Median Rent
$218,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Etcetera Auto — 1 Harriman Ln, Brewer, ME 04412
- Precision Auto — 34 abbott st suite #2, brewer, me 04412
- Batten Motorsports, LLC — 34 Abbott St, Brewer, ME 04412
- All In One Auto — 385 S Main St, Brewer, ME 04412
- Higgins Electric Motor Services — 812 Main Rd N, Hampden, ME 04444
Frequently Asked Questions
What type of property is this?
Auto shop - CB-zoned property near the interstate with substantial 2024 interior improvements.
Where is this auto shop located?
The property is located at 400 S Main Street Brewer, ME.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: 2024 interior reconstruction included new insulation, electrical wiring and panel, plumbing, walls, and paint; CB zoning; One fuel tank and pumps require removal; documented insurance covers potential leakage
