Listing Agency: Better Homes & Gardens Real Estate/The Masiello Group s***@masiello.com Show Phone

Listed By: John Caramihalis Show Phone

Source: Exprealty

Added: Sep 10 Changed: Oct 25 Last Checked: Nov 1 at 11:50AM

Report an Issue

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 Better Homes & Gardens Real Estate/The Masiello Group

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 heated flex property provides approximately 1,200 square feet for commercial use, with a 12' x 14' overhead garage door supporting equipment and material access. The building includes a generator hookup, wiring for a welder, and a newer water heater. Upstairs storage adds utility, while an area could be completed as office space.

Located at 2-356 N Berwick Rd in Wells, Maine, the property also includes deeded outdoor space for equipment, materials, or additional storage. Its combination of heated interior area, service-oriented features, storage, and outdoor space supports a range of flexible commercial applications.

Key Highlights

• Approximately 1,200 square feet of heated flex space
• 12' x 14' overhead garage door
• Generator hookup and wiring for a welder

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,822

Cap Rate

8.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$336,440 $336.4K

Cap Rate 7%

$240,314 $240.3K

Cap Rate 9%

$186,911 $186.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,200 SF

Gross rent

$26.4K $21.96/SF

− Vacancy

−$472 −$0.39/SF

EGI

$25.9K $21.57/SF

− OpEx

−$9.1K −$7.55/SF

NOI

$16.8K $14.02/SF

Area

York County, ME

Vacancy

1.79%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$336,440

Cap Rate 7%

$240,314

Cap Rate 9%

$186,911

Alternative Uses

Best Use

Flex RnD

$240.3K

$210.3K – $280.4K (±1% cap)

NOI $16,822 @ 7.0% cap · market cap 8.01%

Second Best

Warehouse

$214.7K

$187.8K – $250.4K (±1% cap)

NOI $15,026 @ 7.0% cap · market cap 7.16%

Theoretical Best

Office A

$380.4K

$332.9K – $443.8K (±1% cap)

NOI $26,628 @ 7.0% cap · market cap 12.68%

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

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Building Supply Electrical Service Auto Parts Store Big Box & Wholesale Store Furniture & Home Goods Grocery & Convenience Store

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

Lease Details

1

Drive-in doors

Location Intelligence

Trade Area within ½ mile

51

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 04090, ME

11,314

Population

9,590

Households

1.2

Avg Household Size

53

Median Age

38%

College-Educated

92%

High-School Grad

57.7 sq mi

ZIP Area

196

Density / Sq Mi

$83,900

Median Household Income

$47,928

Median Earnings

$1,313

Median Rent

$445,800

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Similar For Sale Nearby

See more

Flex Space with Warehouse and Showroom

1907 Sanford Road, Wells, ME 04090

$719,000

7,800 SF

View details

Storefront Property with Refrigerated Room

259 Post Road, Wells, ME 04090

$800,000

18,324 SF

View details

Two-Unit Duplex With Garage

371 Sanford Rd, Wells, ME 04090

$269,950

1,653 SF

View details

Office Suite with Private Offices

1662 Post Road, Wells, ME 04090

$250,000

1,869 SF

View details

Multi-Office Professional Unit

B8-1662 Post Rd, Wells, ME 04090

$250,000

1,869 SF

View details

Two-Building Duplex Property

20 Nautical Lane, Wells, ME 04090

$1,199,000

1,920 SF

View details

Conventional Restaurant with Dining Area

743 N Berwick Road, Wells, ME 04090

$850,000

2,200 SF

View details

2-Unit Duplex

1396 Sanford Road, Wells, ME 04090

$629,000

2,986 SF

View details

Mixed-Use Property with Restaurant

1732 N Berwick Road, Wells, ME 04090

$499,000

4,065 SF

View details

Riverfront Multifamily Property

1597 Sanford Road, Wells, ME 04090

$575,000

3,769 SF

View details

Historic Mixed-Use Colonial

1830 Post Road, Wells, ME 04090

$795,000

3,602 SF

View details

Storefront Retail Property

2244 Post Road, Wells, ME 04090

$775,000

5,558 SF

View details

Similar Off Market Nearby

• Coast 2 Coast Caterers — 835 Sanford Rd, Wells, ME 04090

Frequently Asked Questions

What type of property is this?

Flex space - Heated commercial space with generator hookup, welder wiring, and deeded outdoor space for added functionality.

Where is this flex space located?

The property is located at 2-356 N Berwick Rd Wells, ME.

What is the asking price?

The asking price for this property is $210,000.

What are key features of this property?

This property features: Approximately 1,200 square feet of heated flex space; 12' x 14' overhead garage door; Generator hookup and wiring for a welder