Retail Space with Vehicle Work
New
For Sale
$750,000
1509 Washington Street N, Auburn, ME 04210
The layout includes a showroom, office, storage area, and vehicle work bays.
Property Size3,600 SF
Price / SF$208.33
Days on Market5
Property Features for 1509 Washington Street N
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Service Bays
2
Amenities
showroom
office
storage area
Building Details
Year Built
1972
Listing Agency:
Coldwell Banker Plourde Real Estate
Listed By:
Dana Michaud
(603) 433-3350
Source:
Greatislandrealty
Added: Aug 18
Changed: Aug 22
Last Checked: Aug 22 at 2:47AM
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 Coldwell Banker Plourde Real Estate
Investment Insights
Based on property information with market context.
This 3,600-square-foot retail property at 1509 Washington Street N in Auburn includes a showroom, office, storage area, and two vehicle work bays. Built in 1972, the building previously served as a trailer sales location.
The property is positioned near I-95 and the Southern Maine Auto Auction, with other businesses nearby. Its combination of customer-facing showroom space and dedicated work areas supports retail and automotive-oriented operations.
The property is positioned near I-95 and the Southern Maine Auto Auction, with other businesses nearby. Its combination of customer-facing showroom space and dedicated work areas supports retail and automotive-oriented operations.
Key Highlights
- 3,600‑square‑foot retail property in Auburn, Maine
- Showroom, office, and storage area included
- Two vehicle work bays
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
$37,649
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
5.02%
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%
$752,980
$753.0K
Cap Rate 7%
$537,843
$537.8K
Cap Rate 9%
$418,322
$418.3K
Market Conditions
NOI Build-Up for 3,600 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
$64.8K $18.00/SF
− Vacancy
−$11.0K −$3.06/SF
EGI
$53.8K $14.94/SF
− OpEx
−$16.1K −$4.48/SF
NOI
$37.6K $10.46/SF
Area
Androscoggin County, ME
Vacancy
17.00%
Lease Rate
$18.00 /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%
$752,980
Cap Rate 7%
$537,843
Cap Rate 9%
$418,322
Alternative Uses
Best Use
Industrial
$5.27M
$4.61M – $6.14M
NOI $368,588 @ 7.0% cap · market cap 49.15%
Second Best
Retail
$537.8K
$470.6K – $627.5K
NOI $37,649 @ 7.0% cap · market cap 5.02%
Theoretical Best
Warehouse
$6.39M
$5.59M – $7.46M
NOI $447,571 @ 7.0% cap · market cap 59.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Service bays
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Explore this area
Business Placement
Demographics for 04210, ME
24,061
Population
11,113
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
59.3 sq mi
ZIP Area
406
Density / Sq Mi
$66,552
Median Household Income
$42,624
Median Earnings
$983
Median Rent
$254,600
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?
Retail space - The layout includes a showroom, office, storage area, and vehicle work bays.
Where is this retail space located?
The property is located at 1509 Washington Street N Auburn, ME.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 3,600‑square‑foot retail property in Auburn, Maine; Showroom, office, and storage area included; Two vehicle work bays
