Mixed-Use Property with
For Sale
$575,000
11 Center Street, Brunswick, ME 04011
Two residential units, possible third apartment, and off-street parking accompany the commercial space.
Property Size3,362 SF
Days on Market483
Property Features for 11 Center Street
General Information
Standard status
Active
Size
3,362 SF
Property subtype
Commercial
Zoning
TIF Downown
Taxes and HOA fees
Annual Taxes
$6,494
Building Details
Building Size
3,362 SF
Tenancy
Multi
Listing Agency:
Portside Real Estate Group
(207) 751-7408
Listed By:
Patricia Sample Colwell
(207) 751-7408
Source:
Startpoint
Added: May 6, 2025
Changed: Aug 30
Last Checked: Aug 30 at 7:09PM
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 Portside Real Estate Group
Investment Insights
Based on property information with market context.
This mixed-use property at 11 Center Street includes commercial space associated with a bike shop and two apartments. A third apartment may also be possible, while off-street parking provides on-site accommodation for the property. The bike shop business is not part of the offering.
Located in Brunswick, Maine, the property sits in the Main Street area and carries TIF Downown zoning.
Located in Brunswick, Maine, the property sits in the Main Street area and carries TIF Downown zoning.
Key Highlights
- Two apartments included in the property
- Potential for a third apartment
- Commercial space associated with a bike shop
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
$41,756
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
7.26%
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%
$835,120
$835.1K
Cap Rate 7%
$596,514
$596.5K
Cap Rate 9%
$463,956
$464.0K
Market Conditions
NOI Build-Up for 3,362 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
$72.6K $21.60/SF
− Vacancy
−$5.8K −$1.73/SF
EGI
$66.8K $19.87/SF
− OpEx
−$25.1K −$7.45/SF
NOI
$41.8K $12.42/SF
Area
Cumberland County, ME
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$835,120
Cap Rate 7%
$596,514
Cap Rate 9%
$463,956
Alternative Uses
Best Use
Multifamily LT 5
$848.7K
$742.7K – $990.2K
NOI $59,412 @ 7.0% cap · market cap 10.33%
Second Best
Apartment 5plus
$789.6K
$690.9K – $921.2K
NOI $55,273 @ 7.0% cap · market cap 9.61%
Theoretical Best
Office A
$924.0K
$808.5K – $1.08M
NOI $64,683 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,351
Businesses Nearby
Explore this area
Business Placement
Demographics for 04011, ME
21,756
Population
9,440
Households
2.3
Avg Household Size
44
Median Age
52%
College-Educated
96%
High-School Grad
46.8 sq mi
ZIP Area
465
Density / Sq Mi
$74,102
Median Household Income
$40,075
Median Earnings
$1,341
Median Rent
$343,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two residential units, possible third apartment, and off-street parking accompany the commercial space.
Where is this mixed-use property located?
The property is located at 11 Center Street Brunswick, ME.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two apartments included in the property; Potential for a third apartment; Commercial space associated with a bike shop
