Mixed-Use Property with Wellness
For Sale
$499,900
156 N Main Street, Brewer, ME 04412
Commercial Sale, Brewer, ME
Property Size4,782 SF
Lot Size0.31 Acres
Price / SF$104.54
Days on Market42
Property Features for 156 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CB - Conv Business
Interior features
Storage
Basement
Daylight, Finished, Walk-Out Access, Crawl Space
Lot features
Business District, Near Shopping
Standard status
Active
Size
4,782 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7252
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard, Other (Heating), Hot Water(Heating), Propane (Heating), Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Water front features
Stream
Amenities
deep plunge pool
sauna
Building Details
Year built
1900
Flooring type
Tile, Carpet, Plank, Wood
Building materials
Wood Frame, Clapboard
Roof type
Shingle, Membrane, Flat, Slate
Additional Structures
Storage
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Tara Roy
(207) 991-8272
Added: Aug 8
Changed: Sep 15
Last Checked: Sep 18 at 11:06PM
MLS# 1659611
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 4,782-square-foot mixed-use property occupies a 0.31-acre parcel and combines commercial, 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 suited to office, treatment, or other configurations. A spiral stairway connects the studio to a bonus room, while the lower level contains a spa with a deep plunge pool, sauna, and retreat or meditation rooms.
The upper floor contains a separate 2-bedroom, 1-bath apartment, adding a residential element to the layout. The building has 10+ on-site parking spaces and CB - Conv Business zoning. Public water and sewer serve the property, which was built in 1900 and features wood frame and clapboard construction. The Brewer Riverwalk is just steps away, providing access to waterfront and trail areas.
The upper floor contains a separate 2-bedroom, 1-bath apartment, adding a residential element to the layout. The building has 10+ on-site parking spaces and CB - Conv Business zoning. Public water and sewer serve the property, which was built in 1900 and features wood frame and clapboard construction. The Brewer Riverwalk is just steps away, providing access to waterfront and trail areas.
Key Highlights
- 4,782‑square‑foot mixed‑use building on a 0.31‑acre parcel
- CB - Conv Business zoning
- Lower‑level spa with deep plunge pool, sauna, and retreat or meditation 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
$40,307
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
8.06%
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%
$806,140
$806.1K
Cap Rate 7%
$575,814
$575.8K
Cap Rate 9%
$447,856
$447.9K
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
$77.5K $16.20/SF
− Vacancy
−$4.2K −$0.87/SF
EGI
$73.3K $15.33/SF
− OpEx
−$33.0K −$6.90/SF
NOI
$40.3K $8.43/SF
Area
Penobscot County, ME
Vacancy
5.40%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$806,140
Cap Rate 7%
$575,814
Cap Rate 9%
$447,856
Alternative Uses
Best Use
Apartment 5plus
$575.8K
$503.8K – $671.8K
NOI $40,307 @ 7.0% cap · market cap 8.06%
Second Best
Mixed Use
$489.6K
$428.4K – $571.2K
NOI $34,269 @ 7.0% cap · market cap 6.86%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,111 @ 7.0% cap · market cap 21.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile commercial building with a studio, spa infrastructure, apartment, and CB - Conv Business zoning.
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 $499,900.
What are key features of this property?
This property features: 4,782‑square‑foot mixed‑use building on a 0.31‑acre parcel; CB - Conv Business zoning; Lower‑level spa with deep plunge pool, sauna, and retreat or meditation rooms
