Mixed-Use Building with
For Sale
$299,000
145 Brunswick St, Old Town, ME 04468
Three-level property combining a commercial ground-floor space with an upper-level three-bedroom apartment.
Property Size1,724 SF
Price / SF$173.43
Days on Market39
Property Features for 145 Brunswick St
General Information
Standard status
Active
Size
1,724 SF
Units
Unit Mix
1 x 3BR
Multifamily Units
1
Building Details
Year Built
1902
Buildings
1
Stories
3
Tenancy
Single
Listing Agency:
NextHome Experience
Listed By:
Timothy Bush
(207) 951-0747
Source:
603luxury
Added: Aug 1
Changed: Sep 7
Last Checked: Sep 8 at 10:26AM
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 NextHome Experience
Investment Insights
Based on property information with market context.
Built in 1902, this 1,724-square-foot mixed-use building combines commercial and residential space across three levels. The ground floor is configured for office or retail activity, while the second and third floors contain a three-bedroom apartment with additional living space.
The property is located on Brunswick St in Old Town, near the University of Maine and local amenities. Its setting supports both commercial occupancy and residential use within the same building, providing flexibility for an owner-user or investor.
The property is located on Brunswick St in Old Town, near the University of Maine and local amenities. Its setting supports both commercial occupancy and residential use within the same building, providing flexibility for an owner-user or investor.
Key Highlights
- 1,724‑square‑foot mixed‑use building constructed in 1902
- Ground‑floor commercial space suited to office or retail use
- Three‑bedroom apartment spans the second and third floors
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
$24,371
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
8.15%
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%
$487,420
$487.4K
Cap Rate 7%
$348,157
$348.2K
Cap Rate 9%
$270,789
$270.8K
Market Conditions
NOI Build-Up for 1,724 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
$37.2K $21.60/SF
− Vacancy
−$4.7K −$2.75/SF
EGI
$32.5K $18.85/SF
− OpEx
−$8.1K −$4.71/SF
NOI
$24.4K $14.14/SF
Area
Penobscot County, ME
Vacancy
12.74%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$487,420
Cap Rate 7%
$348,157
Cap Rate 9%
$270,789
Alternative Uses
Best Use
Office B
$348.2K
$304.6K – $406.2K
NOI $24,371 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$207.6K
$181.6K – $242.2K
NOI $14,531 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$556.8K
$487.2K – $649.6K
NOI $38,976 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
Explore this area
Business Placement
Demographics for 04468, ME
8,801
Population
4,664
Households
1.9
Avg Household Size
38
Median Age
33%
College-Educated
96%
High-School Grad
122.8 sq mi
ZIP Area
72
Density / Sq Mi
$51,063
Median Household Income
$36,005
Median Earnings
$980
Median Rent
$182,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-level property combining a commercial ground-floor space with an upper-level three-bedroom apartment.
Where is this mixed-use property located?
The property is located at 145 Brunswick St Old Town, ME.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,724‑square‑foot mixed‑use building constructed in 1902; Ground‑floor commercial space suited to office or retail use; Three‑bedroom apartment spans the second and third floors
