Mixed-Use Property with Wellness
For Sale
$550,000
156 N Main Street, Brewer, ME 04412
Flexible commercial building with studio, spa amenities, offices, and a separate apartment near the Brewer Riverwalk.
Property Size4,782 SF
Price / SF$115.01
Days on Market125
Property Features for 156 N Main Street
General Information
Standard status
Active
Size
4,782 SF
Property subtype
Multi-family
Amenities
studio space
chef's kitchen
dining room
spa
plunge pool
sauna
retreat/meditation rooms
Building Details
Year Built
1900
Buildings
1
Construction
Mansard-style
Listing Agency:
EXP Realty
Listed By:
Tara Roy
(603) 866-2942
Source:
Profoundrealestate
Added: Apr 19
Changed: Aug 21
Last Checked: Aug 21 at 11:12AM
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 EXP Realty
Investment Insights
Based on property information with market context.
This 4782-square-foot Mansard-style mixed-use property, built in 1900, combines business, wellness, and residential components. The main level includes a large studio, chef’s kitchen, dining room, three guest or client bathrooms, and three additional rooms suitable for offices or treatment areas. A spiral staircase connects the studio to an upper bonus room, while the lower level contains a spa with a deep plunge pool, sauna, and retreat or meditation rooms.
The upper floor features a separate two-bedroom, one-bath apartment that was previously operated as an Airbnb. The building is situated within convenience business zoning and includes 10+ on-site parking spaces. Its location at 156 N Main Street places the property steps from the Brewer Riverwalk, with connections to the waterfront, trails, and surrounding community.
The upper floor features a separate two-bedroom, one-bath apartment that was previously operated as an Airbnb. The building is situated within convenience business zoning and includes 10+ on-site parking spaces. Its location at 156 N Main Street places the property steps from the Brewer Riverwalk, with connections to the waterfront, trails, and surrounding community.
Key Highlights
- 4782 SF Mansard‑style mixed‑use property built in 1900
- Large studio with spiral staircase to an upper bonus room
- Lower‑level spa with deep plunge pool, sauna, and retreat rooms
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
$34,269
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
6.23%
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%
$685,380
$685.4K
Cap Rate 7%
$489,557
$489.6K
Cap Rate 9%
$380,767
$380.8K
Market Conditions
NOI Build-Up for 4,782 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
$60.3K $12.60/SF
− Vacancy
−$5.4K −$1.13/SF
EGI
$54.8K $11.47/SF
− OpEx
−$20.6K −$4.30/SF
NOI
$34.3K $7.17/SF
Area
Penobscot County, ME
Vacancy
9.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
37.50%
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%
$685,380
Cap Rate 7%
$489,557
Cap Rate 9%
$380,767
Alternative Uses
Best Use
Office B
$965.7K
$845.0K – $1.13M
NOI $67,599 @ 7.0% cap · market cap 12.29%
Second Best
Mixed Use
$489.6K
$428.4K – $571.2K
NOI $34,269 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,111 @ 7.0% cap · market cap 19.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,827
Businesses Nearby
Explore this area
Business Placement
Demographics for 04412, ME
9,672
Population
4,565
Households
2.1
Avg Household Size
43
Median Age
31%
College-Educated
95%
High-School Grad
15.2 sq mi
ZIP Area
636
Density / Sq Mi
$51,490
Median Household Income
$35,700
Median Earnings
$984
Median Rent
$218,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial building with studio, spa amenities, offices, and a separate apartment near the Brewer Riverwalk.
Where is this mixed-use property located?
The property is located at 156 N Main Street Brewer, ME.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 4782 SF Mansard‑style mixed‑use property built in 1900; Large studio with spiral staircase to an upper bonus room; Lower‑level spa with deep plunge pool, sauna, and retreat rooms
