Two-Bay Auto
For Sale
$300,000
140 Riverside Drive, Auburn, ME 04210
Auto service property with retail, parts, workshop, storage, and paved parking improvements.
Property Size1,923 SF
Lot Size0.16 Acres
Price / SF$156.01
Days on Market472
Property Features for 140 Riverside Drive
General Information
Standard status
Active
Size
1,923 SF
Lot size
0.16 Acres
Property subtype
Commercial
Zoning
GB
Additional Details
Road Access
Yes
Service Bays
2
Taxes and HOA fees
Annual Taxes
$3,451
Amenities
retail counter
parts room
workshop area
basement
paved parking lot
one bathroom
two 9,000 lb automotive lifts
natural gas radiant floor heating
hot water baseboard heating
Building Details
Building Size
1,923 SF
Year Built
1931
Buildings
1
Listing Agency:
Town & Shore Real Estate
(207) 632-7500
Listed By:
Eric Landry
(207) 632-7500
Source:
Startpoint
Added: Apr 28, 2025
Changed: Aug 12
Last Checked: Aug 12 at 4:12AM
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 Town & Shore Real Estate
Investment Insights
Based on property information with market context.
This 1,923± square foot auto shop was built in 1931 and includes two service bays, a retail counter, parts room, workshop area, one bathroom, and a 600± square foot basement. Two 9,000 lb automotive lifts support repair and service operations. Heating includes natural gas radiant flooring in the main shop and hot water baseboard in the retail and parts area.
The property occupies 0.16± acres with approximately 100 feet of road and river frontage. A paved parking lot provides on-site parking, while the GB zoning and existing automotive layout support continued service-shop use. The building previously operated as an auto repair facility.
The property occupies 0.16± acres with approximately 100 feet of road and river frontage. A paved parking lot provides on-site parking, while the GB zoning and existing automotive layout support continued service-shop use. The building previously operated as an auto repair facility.
Key Highlights
- 1,923± sq ft building on 0.16± acres
- Two service bays with two 9,000 lb automotive lifts
- Approximately 100 feet of road and river frontage
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
$20,111
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
6.70%
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%
$402,220
$402.2K
Cap Rate 7%
$287,300
$287.3K
Cap Rate 9%
$223,456
$223.5K
Market Conditions
NOI Build-Up for 1,923 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
$34.6K $18.00/SF
− Vacancy
−$5.9K −$3.06/SF
EGI
$28.7K $14.94/SF
− OpEx
−$8.6K −$4.48/SF
NOI
$20.1K $10.46/SF
Area
Androscoggin 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%
$402,220
Cap Rate 7%
$287,300
Cap Rate 9%
$223,456
Alternative Uses
Best Use
Industrial
$2.81M
$2.46M – $3.28M
NOI $196,887 @ 7.0% cap · market cap 65.63%
Second Best
Retail
$287.3K
$251.4K – $335.2K
NOI $20,111 @ 7.0% cap · market cap 6.70%
Theoretical Best
Warehouse
$3.42M
$2.99M – $3.98M
NOI $239,077 @ 7.0% cap · market cap 79.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Service bays
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
586
Businesses Nearby
19k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 48%
Dunkin' Donuts
Dining
9,785 visits/mo
0.3 miles
Gulf Oil
Shops & Services
4,920 visits/mo
0.3 miles
VIP Tires & Service
Shops & Services
2,819 visits/mo
0.3 miles
O'Reilly Auto Parts
Shops & Services
1,342 visits/mo
0.3 miles
Demographics for 04210, ME
24,061
Population
11,113
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
59.3 sq mi
ZIP Area
406
Density / Sq Mi
$66,552
Median Household Income
$42,624
Median Earnings
$983
Median Rent
$254,600
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
- Brandon's mobile auto repair — 9th St, Auburn, ME 04210
- Lewiston Radiator Works — 48 Riverside Dr, Auburn, ME 04210
- Young Guns Services Center — 105 Riverside Dr #6924, Auburn, ME 04210
- Sullivan Tire & Auto Service — 805 Lisbon St, Lewiston, ME 04240
- Brad's Precision Auto Repair — 144 Riverside Dr, Auburn, ME 04210
Frequently Asked Questions
What type of property is this?
Auto shop - Auto service property with retail, parts, workshop, storage, and paved parking improvements.
Where is this auto shop located?
The property is located at 140 Riverside Drive Auburn, ME.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1,923± sq ft building on 0.16± acres; Two service bays with two 9,000 lb automotive lifts; Approximately 100 feet of road and river frontage
