Building Details

Building Size 4,800 SF

Year Built 1988

Stories 2

Listing Agency: Real Estate 2000 ME/NH i***@realestate2000menh.com Show Phone

Listed By: Stephen Foglio Jr Show Phone

Source: Integrityhomesrealestategroup

Added: Oct 2, 2023 Changed: Oct 30 Last Checked: Oct 30 at 2:41PM

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Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 4,800-square-foot automotive property was built in 1988 and includes six 10-foot garage doors. Office space occupies the first floor, with living quarters on the second level. The building has been used for automotive repair and maintenance.

The property is on Route 202 in Waterboro, where the source describes traffic volume as high. Village zoning allows a wide variety of uses.

Key Highlights

• 4,800‑square‑foot building constructed in 1988
• Six 10‑foot garage doors
• First‑floor office space and second‑floor living quarters

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$59,616

Cap Rate

8.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,192,320 $1.2M

Cap Rate 7%

$851,657 $851.7K

Cap Rate 9%

$662,400 $662.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,800 SF

Gross rent

$103.7K $21.60/SF

− Vacancy

−$8.3K −$1.73/SF

EGI

$95.4K $19.87/SF

− OpEx

−$35.8K −$7.45/SF

NOI

$59.6K $12.42/SF

Area

York County, ME

Vacancy

8.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,192,320

Cap Rate 7%

$851,657

Cap Rate 9%

$662,400

Alternative Uses

Best Use

Office B

$1.12M

$982.8K – $1.31M (±1% cap)

NOI $78,624 @ 7.0% cap · market cap 11.25%

Second Best

Mixed Use

$851.7K

$745.2K – $993.6K (±1% cap)

NOI $59,616 @ 7.0% cap · market cap 8.53%

Theoretical Best

Office A

$1.52M

$1.33M – $1.78M (±1% cap)

NOI $106,510 @ 7.0% cap · market cap 15.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Downeast Auto Inc Car Dealership

Suggested Use

Top Pick Plumbing Service Grocery & Convenience Store (Bike/Boat/Book/etc) Store Pharmacy Kitchen & Bath Showroom Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

31

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 04087, ME

2,269

Population

901

Households

2.5

Avg Household Size

41

Median Age

23%

College-Educated

86%

High-School Grad

19.9 sq mi

ZIP Area

114

Density / Sq Mi

$96,268

Median Household Income

$39,612

Median Earnings

$1,214

Median Rent

$236,200

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Similar Off Market Nearby

• Methot Auto Services LLC — 1110 Main St, Waterboro, ME 04087
• J&S Moving & RoadSide Assistance — 22 Peppercorn Ln, Waterboro, ME 04087

Frequently Asked Questions

What type of property is this?

Auto shop - The two-level building combines ground-floor office space with residential quarters upstairs.

Where is this auto shop located?

The property is located at 1145 Main Street Waterboro, ME.

What is the asking price?

The asking price for this property is $699,000.

What are key features of this property?

This property features: 4,800‑square‑foot building constructed in 1988; Six 10‑foot garage doors; First‑floor office space and second‑floor living quarters