Mixed-Use Property with
For Sale
$499,900
156 N Main Street, Brewer, ME 04412
Multi-Family, Brewer, ME
Property Size4,782 SF
Lot Size0.31 Acres
Price / SF$104.54
Days on Market50
Property Features for 156 N Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
CB - Conv Business
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Other Amenities, Walk-in Closets, 1st Floor Bedroom, Shower, Storage
Basement
Daylight, Crawl Space, Walk-Out Access, Finished
Lot features
Well Landscaped, Intown, 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
Hot Water(Heating), Heat Pump (Heating), Other (Heating), Baseboard, Electric (Heating), Propane (Heating)
Cooling system
Heat Pump
Water source
Public
Water front features
Stream
Building Details
Year built
1900
Number of units
2
Flooring type
Carpet, Plank, Tile, Wood
Building materials
Wood Frame, Clapboard
Roof type
Shingle, Membrane, Flat, Slate
Architectural style
Other
Additional Structures
Storage, Other
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Tara Roy
(207) 991-8272
Added: Aug 8
Changed: Sep 15
Last Checked: Sep 26 at 4:06AM
MLS# 1659609
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 Mansard-style mixed-use property sits on 0.31 acres and is zoned CB - Conv Business. The building includes a large studio, bonus room, chef’s kitchen, dining room, three guest or client bathrooms, and three additional rooms suited to office, treatment, or residential use. Lower-level wellness improvements include a deep plunge pool, sauna, and multiple retreat or meditation rooms. The property also contains a separate upstairs apartment with two bedrooms and one bathroom.
Practical features include 10+ on-site parking spaces, public water, public sewer, heat-pump cooling, and a mix of wood, carpet, plank, and tile flooring. Built in 1900 with wood-frame and clapboard construction, the property has membrane, slate, shingle, and flat roof components. The Brewer Riverwalk is located steps away and connects to the waterfront, trails, and surrounding community.
Practical features include 10+ on-site parking spaces, public water, public sewer, heat-pump cooling, and a mix of wood, carpet, plank, and tile flooring. Built in 1900 with wood-frame and clapboard construction, the property has membrane, slate, shingle, and flat roof components. The Brewer Riverwalk is located steps away and connects to the waterfront, trails, and surrounding community.
Key Highlights
- 4,782‑square‑foot mixed‑use building on 0.31 acres
- 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
$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
6.86%
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 13.52%
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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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mansard-style mixed-use building with wellness improvements, an apartment, studio space, and convenience 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 0.31 acres; CB - Conv Business zoning; Lower‑level spa with deep plunge pool, sauna, and retreat or meditation rooms
