182 Spring Street, Dexter, ME 04930

Building Details

Building Size 1,400 SF More

Listing Agency: Trundy & Company Real Estate t***@midmaine.com Show Phone

Listed By: Deltena McCormick Show Phone

Source: Integrityhomesrealestategroup

Added: Oct 7, 2024 Changed: Nov 11 Last Checked: Nov 11 at 2:21AM

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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 Trundy & Company Real Estate

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Investment Insights

Based on property information with market context.

This auto shop offers 1,400 square feet of space, with overhead garage doors and recently added pavement. The property is zoned COM and has received multiple updates in recent years.

Key Highlights

• 1,400 square feet of auto shop space
• Overhead garage doors
• New pavement

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,713

Cap Rate

6.33%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$234,260 $234.3K

Cap Rate 7%

$167,329 $167.3K

Cap Rate 9%

$130,144 $130.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,400 SF

Gross rent

$20.2K $14.40/SF

− Vacancy

−$3.4K −$2.45/SF

EGI

$16.7K $11.95/SF

− OpEx

−$5.0K −$3.59/SF

NOI

$11.7K $8.37/SF

Area

Penobscot County, ME

Vacancy

17.00%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$234,260

Cap Rate 7%

$167,329

Cap Rate 9%

$130,144

Alternative Uses

Best Use

Retail

$167.3K

$146.4K – $195.2K (±1% cap)

NOI $11,713 @ 7.0% cap · market cap 6.33%

Second Best

Industrial

$117.8K

$103.1K – $137.5K (±1% cap)

NOI $8,247 @ 7.0% cap · market cap 4.46%

Theoretical Best

Office A

$452.2K

$395.6K – $527.5K (±1% cap)

NOI $31,651 @ 7.0% cap · market cap 17.11%

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

Auto shops

Suggested Use

Top Pick Electrical Service Law Firm Plumbing Service Grocery & Convenience Store Garden Center Storage Facility

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

104

Businesses Nearby

5k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar Tree Shops & Services

5,323 visits/mo 0.1 miles

Demographics for 04930, ME

4,287

Population

2,463

Households

1.7

Avg Household Size

48

Median Age

17%

College-Educated

92%

High-School Grad

60.3 sq mi

ZIP Area

71

Density / Sq Mi

$53,537

Median Household Income

$38,085

Median Earnings

$891

Median Rent

$159,200

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Similar Off Market Nearby

• GOULETTES GARAGE — Railroad Ave, Dexter, ME 04930
• Halls auto repair — 166 Spring St, Dexter, ME 04930
• Defiance Diesel — 182 Spring St, Dexter, ME 04930
• Dexter Discount Tire — 139 Spring St, Dexter, ME 04930
• Chambers Garage — 80 Main St, Dexter, ME 04930

Frequently Asked Questions

What type of property is this?

Auto shop - Recent improvements include new pavement and overhead garage doors.

Where is this auto shop located?

The property is located at 182 Spring Street Dexter, ME.

What is the asking price?

The asking price for this property is $185,000.

What are key features of this property?

This property features: 1,400 square feet of auto shop space; Overhead garage doors; New pavement