Nursery and Garden Center with
For Sale
$299,900
325 Garland Road, Dexter, ME 04930
Established floral and gift shop with customer-facing retail space, greenhouse improvements, storage, and an on-site apartment.
Property Size1,940 SF
Days on Market916
Property Features for 325 Garland Road
General Information
Standard status
Active
Size
1,940 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$1,883
Building Details
Building Size
1,940 SF
Year Built
1920
Listing Agency:
RE/MAX Infinity
(207) 924-2264
Listed By:
Cynthia Quimby
(207) 270-0267
Source:
Startpoint
Added: Mar 18, 2024
Changed: Sep 18
Last Checked: Sep 18 at 3:38PM
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 Infinity
Investment Insights
Based on property information with market context.
Spring Street Floral and Gift Shop includes a main retail building, two greenhouses, and two parcels totaling .52 acres. The showroom features floral and gift merchandise space, refrigeration, a sales counter, preparation area, half bath, and storage. A walk-out basement adds workspace, additional storage, and a second half bath.
The upper level contains a fully applianced, one-bedroom apartment that can serve as owner accommodations or an additional income-producing component. Built in 1920 and zoned Commercial, the property combines an operating floral and gift shop with greenhouse infrastructure and flexible on-site space.
The upper level contains a fully applianced, one-bedroom apartment that can serve as owner accommodations or an additional income-producing component. Built in 1920 and zoned Commercial, the property combines an operating floral and gift shop with greenhouse infrastructure and flexible on-site space.
Key Highlights
- Two parcels totaling .52 acres
- Two large greenhouses included
- Main building includes showroom, refrigeration, sales counter, prep area, and storage
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
$16,231
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
5.41%
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%
$324,620
$324.6K
Cap Rate 7%
$231,871
$231.9K
Cap Rate 9%
$180,344
$180.3K
Market Conditions
NOI Build-Up for 1,940 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
$27.9K $14.40/SF
− Vacancy
−$4.7K −$2.45/SF
EGI
$23.2K $11.95/SF
− OpEx
−$7.0K −$3.59/SF
NOI
$16.2K $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%
$324,620
Cap Rate 7%
$231,871
Cap Rate 9%
$180,344
Alternative Uses
Best Use
Retail
$231.9K
$202.9K – $270.5K
NOI $16,231 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$626.6K
$548.3K – $731.0K
NOI $43,860 @ 7.0% cap · market cap 14.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
5k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar Tree
Shops & Services
5,323 visits/mo
0.4 miles
Demographics for 04930, ME
4,287
Population
2,463
Households
1.7
Avg Household Size
48
Median Age
17%
College-Educated
92%
High-School Grad
60.3 sq mi
ZIP Area
71
Density / Sq Mi
$53,537
Median Household Income
$38,085
Median Earnings
$891
Median Rent
$159,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Nursery and garden center - Established floral and gift shop with customer-facing retail space, greenhouse improvements, storage, and an on-site apartment.
Where is this nursery and garden center located?
The property is located at 325 Garland Road Dexter, ME.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two parcels totaling .52 acres; Two large greenhouses included; Main building includes showroom, refrigeration, sales counter, prep area, and storage
