Automotive Service Shop with
New
For Sale
$250,000
146 Main Street, Newport, ME 04953
Commercial Sale, Newport, ME
Property Size1,956 SF
Lot Size0.28 Acres
Price / SF$127.81
Days on Market2
Property Features for 146 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Com
Lot features
Near Turnpike/ Interstate, Business District, Near Shopping, Retail Strip
Standard status
Active
Size
1,956 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2791
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Oil, Forced Air
Water source
Public
Amenities
restrooms
private office
large front room
Building Details
Year built
1959
Flooring type
Concrete
Building materials
Masonry, Concrete
Roof type
Flat, Membrane
Listing Agency:
Realty of Maine
(207) 942-6310
Listed By:
Joseph Simpson Ashlee Black
(207) 659-3468
Added: Sep 2
Last Checked: Sep 3 at 5:06AM
MLS# 1678864
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,956-square-foot automotive service property occupies a 0.28-acre parcel at 146 Main Street in Newport. Built in 1959, the building features masonry and concrete construction, a concrete floor, flat membrane roof, two restrooms, a private office, and a large front room that can support customer or retail functions. Garage inventory is included, with two newer lifts, a one-year-old air compressor, tire mounter, tire balancer, dual waste oil burner with transfer pump, transmission jack, and cash register among the listed equipment.
Gasoline was previously sold at the property, and the existing tank has been inspected annually. New spill buckets and any required approvals or updates are needed for a return to fuel sales. The property has commercial zoning, public water, public sewer, and oil-fired forced-air heating.
Gasoline was previously sold at the property, and the existing tank has been inspected annually. New spill buckets and any required approvals or updates are needed for a return to fuel sales. The property has commercial zoning, public water, public sewer, and oil-fired forced-air heating.
Key Highlights
- 1,956‑square‑foot automotive service property on a 0.28‑acre parcel
- Garage inventory included with two newer lifts and a one‑year‑old air compressor
- Equipment includes tire mounter, tire balancer, waste oil burner, transmission jack, and cash register
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
Specialty Retail
$380.7K
$333.1K – $444.1K
NOI $26,646 @ 7.0% cap · market cap 10.66%
Second Best
Retail
$233.8K
$204.6K – $272.8K
NOI $16,365 @ 7.0% cap · market cap 6.55%
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
2
Service bays
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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Frequently Asked Questions
What type of property is this?
Auto shop - Commercial-zoned automotive facility with service equipment, customer-facing space, and public water and sewer.
Where is this auto shop located?
The property is located at 146 Main Street 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 service property on a 0.28‑acre parcel; Garage inventory included with two newer lifts and a one‑year‑old air compressor; Equipment includes tire mounter, tire balancer, waste oil burner, transmission jack, and cash register
