Historic Mixed-Use
For Sale
$1,450,000
158 Court Street, Auburn, ME 04210
Two buildings combine commercial space, residential units, and a vacant café/flex area.
Property Size12,692 SF
Price / SF$114.25
Days on Market10
Property Features for 158 Court Street
General Information
Standard status
Active
Size
12,692 SF
Property subtype
Mixed Use
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$11,379
Amenities
Central Air
3
No Parking.
0.23
Building Details
Year Built
1900
Buildings
2
Listing Agency:
Meservier & Associates
(207) 897-8249
Listed By:
Kyle Charest
(207) 897-8249
Source:
Xome
Added: Aug 22
Changed: Aug 30
Last Checked: Aug 30 at 1:40PM
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 Meservier & Associates
Investment Insights
Based on property information with market context.
This mixed-use property at 158 Court Street, 154 Court Street, and 65 Pleasant Street includes two buildings and an additional vacant parcel. The combined buildings contain approximately 10,000 square feet and 9 rental units, with both commercial and residential components. One building is the historic Engine House, a former fire station now occupied by commercial tenants. The second building includes a storefront and a spacious residential unit. A vacant café/flex space at 158 Court Street provides additional interior area for future occupancy. Central air is listed among the interior features, while the property information notes no parking. The parcel component measures 0.23, as reported in the property details.
Key Highlights
- Approximately 10,000 square feet across two buildings
- 9 total rental units with commercial and residential components
- Historic Engine House former fire station with commercial tenants
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
$118,936
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
8.20%
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%
$2,378,720
$2.4M
Cap Rate 7%
$1,699,086
$1.7M
Cap Rate 9%
$1,321,511
$1.3M
Market Conditions
NOI Build-Up for 12,692 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
$219.3K $17.28/SF
− Vacancy
−$3.1K −$0.24/SF
EGI
$216.2K $17.04/SF
− OpEx
−$97.3K −$7.67/SF
NOI
$118.9K $9.37/SF
Area
Androscoggin County, ME
Vacancy
1.40%
Lease Rate
$17.28 /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%
$2,378,720
Cap Rate 7%
$1,699,086
Cap Rate 9%
$1,321,511
Alternative Uses
Best Use
Industrial
$18.56M
$16.24M – $21.66M
NOI $1,299,477 @ 7.0% cap · market cap 89.62%
Second Best
Mixed Use
$2.14M
$1.87M – $2.50M
NOI $149,753 @ 7.0% cap · market cap 10.33%
Theoretical Best
Warehouse
$22.54M
$19.72M – $26.30M
NOI $1,577,936 @ 7.0% cap · market cap 108.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
910
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two buildings combine commercial space, residential units, and a vacant café/flex area.
Where is this mixed-use property located?
The property is located at 158 Court Street Auburn, ME.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Approximately 10,000 square feet across two buildings; 9 total rental units with commercial and residential components; Historic Engine House former fire station with commercial tenants
