Automotive Service
New
For Sale
$250,000
146 Main St, Newport, ME 04953
Automotive property with service equipment, included garage inventory, customer-area flexibility, and dedicated office and restroom facilities.
Property Size1,956 SF
Price / SF$127.81
Days on Market1
Property Features for 146 Main St
General Information
Standard status
Active
Size
1,956 SF
Additional Details
Business Included
Yes
Amenities
restrooms
private office
large front room
Building Details
Year Built
1959
Listing Agency:
Realty of Maine
Listed By:
Joseph Simpson Ashlee Black
(207) 659-3468
Source:
Aroostookrealestate
Added: Sep 8
Last Checked: Sep 8 at 2:31PM
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 Realty of Maine
Investment Insights
Based on property information with market context.
Built in 1959, this 1,956-square-foot automotive property includes a service area, two restrooms, a private office, and a spacious front room that can support customer reception, retail, showroom, or convenience-oriented use. Garage inventory is included, along with two lifts, a one-year-old air compressor, tire mounter, tire balancer, dual waste oil burner with transfer pump, transmission jack, and cash register.
The property is located at 146 Main St in Newport, Maine, within a commercial setting. Gasoline was previously sold on-site, and the existing tank has been inspected annually. New spill buckets and any required approvals or updates are needed to restore fuel sales. The building can accommodate continued automotive service use or a revised commercial concept.
The property is located at 146 Main St in Newport, Maine, within a commercial setting. Gasoline was previously sold on-site, and the existing tank has been inspected annually. New spill buckets and any required approvals or updates are needed to restore fuel sales. The building can accommodate continued automotive service use or a revised commercial concept.
Key Highlights
- 1,956‑square‑foot automotive property built in 1959
- Two lifts, one‑year‑old air compressor, tire mounter, and tire balancer
- Dual waste oil burner with transfer pump and transmission jack
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
$16,365
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
6.55%
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%
$327,300
$327.3K
Cap Rate 7%
$233,786
$233.8K
Cap Rate 9%
$181,833
$181.8K
Market Conditions
NOI Build-Up for 1,956 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
$28.2K $14.40/SF
− Vacancy
−$4.8K −$2.45/SF
EGI
$23.4K $11.95/SF
− OpEx
−$7.0K −$3.59/SF
NOI
$16.4K $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%
$327,300
Cap Rate 7%
$233,786
Cap Rate 9%
$181,833
Alternative Uses
Best Use
Retail
$233.8K
$204.6K – $272.8K
NOI $16,365 @ 7.0% cap · market cap 6.55%
Second Best
Industrial
$164.6K
$144.0K – $192.0K
NOI $11,522 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$631.7K
$552.8K – $737.0K
NOI $44,221 @ 7.0% cap · market cap 17.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
220
Businesses Nearby
27k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Dining 31%
Home Improvements & Furnishings 19%
Aroma Joe's
Dining
8,447 visits/mo
0.5 miles
Shell
Shops & Services
6,989 visits/mo
0.2 miles
Aubuchon Hardware
Home Improvements & Furnishings
5,192 visits/mo
0.5 miles
O'Reilly Auto Parts
Shops & Services
2,685 visits/mo
0.5 miles
TD Bank
Shops & Services
2,000 visits/mo
0.4 miles
Demographics for 04953, ME
3,139
Population
1,830
Households
1.7
Avg Household Size
47
Median Age
29%
College-Educated
92%
High-School Grad
29.5 sq mi
ZIP Area
106
Density / Sq Mi
$62,708
Median Household Income
$46,538
Median Earnings
$884
Median Rent
$213,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- T & W Garage Inc — 210 Elm St, Newport, ME 04953
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- New England Auto Mall, LLC — 129 elm st, newport, me 04953
- Prays Service Station — 146 Main St, Newport, ME 04953
- Darling's Newport CDJR Service Department — 30 Main St, Newport, ME 04953
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive property with service equipment, included garage inventory, customer-area flexibility, and dedicated office and restroom facilities.
Where is this auto shop located?
The property is located at 146 Main St Newport, ME.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,956‑square‑foot automotive property built in 1959; Two lifts, one‑year‑old air compressor, tire mounter, and tire balancer; Dual waste oil burner with transfer pump and transmission jack
