Office Units with
For Sale
$500,000
74 Neptune Drive, Brunswick, ME 04011
Commercial suite includes multiple offices, a kitchenette, and two bathrooms.
Property Size2,513 SF
Lot Size1.00 Acre
Price / SF$198.97
Days on Market1202
Property Features for 74 Neptune Drive
General Information
Standard status
Active
Size
2,513 SF
Lot size
1.00 Acre
Property subtype
Commercial
Zoning
GR1
Additional Details
HOA Fee
$208
Taxes and HOA fees
Annual Taxes
$8,060
Building Details
Building Size
2,513 SF
Year Built
2003
Listing Agency:
RE/MAX Riverside
(207) 319-7815
Listed By:
Joseph Spann
(207) 319-7815
Source:
Startpoint
Added: May 18, 2023
Changed: Aug 30
Last Checked: Aug 30 at 10:31PM
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 RE/MAX Riverside
Investment Insights
Based on property information with market context.
Located at 74 Neptune Drive within Brunswick Landing, this office unit provides 2,513 square feet of bright, open workspace. The layout includes separate office areas, a kitchenette, and two bathrooms, supporting a range of professional office configurations. The building was constructed in 2003 and carries GR1 zoning.
The property is being offered for sale. Association fees include water and sewer service, providing an additional building-service detail for occupants. The address places the suite within the Brunswick Landing development in Brunswick, Maine.
The property is being offered for sale. Association fees include water and sewer service, providing an additional building-service detail for occupants. The address places the suite within the Brunswick Landing development in Brunswick, Maine.
Key Highlights
- 2,513 SF office unit at 74 Neptune Drive, Brunswick Landing
- Separate office spaces create a multi‑room professional layout
- Kitchenette and two bathrooms included
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
$35,976
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
7.20%
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%
$719,520
$719.5K
Cap Rate 7%
$513,943
$513.9K
Cap Rate 9%
$399,733
$399.7K
Market Conditions
NOI Build-Up for 2,513 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
$54.9K $21.84/SF
− Vacancy
−$6.9K −$2.75/SF
EGI
$48.0K $19.09/SF
− OpEx
−$12.0K −$4.77/SF
NOI
$36.0K $14.32/SF
Area
Cumberland County, ME
Vacancy
12.60%
Lease Rate
$21.84 /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%
$719,520
Cap Rate 7%
$513,943
Cap Rate 9%
$399,733
Alternative Uses
Best Use
Office B
$513.9K
$449.7K – $599.6K
NOI $35,976 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$690.7K
$604.4K – $805.8K
NOI $48,349 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
155
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 Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Commercial suite includes multiple offices, a kitchenette, and two bathrooms.
Where is this office units located?
The property is located at 74 Neptune Drive Brunswick, ME.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 2,513 SF office unit at 74 Neptune Drive, Brunswick Landing; Separate office spaces create a multi‑room professional layout; Kitchenette and two bathrooms included
