Historic Brick-and-Beam Mixed-Use
For Sale
$1,799,000
21 Stanwood Street, Brunswick, ME 04011
Updated building shell with a vacant first floor and an occupied fitness studio on the lower level.
Property Size8,800 SF
Days on Market342
Property Features for 21 Stanwood Street
General Information
Standard status
Active
Size
8,800 SF
Property subtype
Commercial
Zoning
GM1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$12,004
Building Details
Building Size
8,800 SF
Year Built
1850
Construction
brick and beam
Listing Agency:
The Boulos Company
(207) 772-1333
Listed By:
Nathaniel Stevens
(207) 772-1333
Source:
Startpoint
Added: Sep 12, 2025
Changed: Aug 15
Last Checked: Aug 18 at 12:17AM
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 The Boulos Company
Investment Insights
Based on property information with market context.
Built in 1850, this mixed-use property features historic brick-and-beam construction with an updated shell suitable for fit-up. The first floor is vacant and available for a new user, while the lower level is occupied by a fitness studio. Recent improvements include a new roof, updated heating system, new windows, re-pointed brick, and an updated entry. The property is zoned GM1.
The building is located less than 1/4 mile from Pleasant Street, less than 1/2 mile from Main Street, and approximately 4 minutes from I-295. Nearby businesses and institutions include Bowdoin College, Brunswick Police Department, Dunkin', Hannaford, and McDonald's.
The building is located less than 1/4 mile from Pleasant Street, less than 1/2 mile from Main Street, and approximately 4 minutes from I-295. Nearby businesses and institutions include Bowdoin College, Brunswick Police Department, Dunkin', Hannaford, and McDonald's.
Key Highlights
- Vacant first floor available for a new user
- Lower level occupied by a fitness studio
- Historic brick‑and‑beam building constructed in 1850
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
$109,296
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
6.08%
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%
$2,185,920
$2.2M
Cap Rate 7%
$1,561,371
$1.6M
Cap Rate 9%
$1,214,400
$1.2M
Market Conditions
NOI Build-Up for 8,800 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
$190.1K $21.60/SF
− Vacancy
−$15.2K −$1.73/SF
EGI
$174.9K $19.87/SF
− OpEx
−$65.6K −$7.45/SF
NOI
$109.3K $12.42/SF
Area
Cumberland 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 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%
$2,185,920
Cap Rate 7%
$1,561,371
Cap Rate 9%
$1,214,400
Alternative Uses
Best Use
Mixed Use
$1.56M
$1.37M – $1.82M
NOI $109,296 @ 7.0% cap · market cap 6.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.42M
$2.12M – $2.82M
NOI $169,308 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
957
Businesses Nearby
Explore this area
Business Placement
Demographics for 04011, ME
21,756
Population
9,440
Households
2.3
Avg Household Size
44
Median Age
52%
College-Educated
96%
High-School Grad
46.8 sq mi
ZIP Area
465
Density / Sq Mi
$74,102
Median Household Income
$40,075
Median Earnings
$1,341
Median Rent
$343,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated building shell with a vacant first floor and an occupied fitness studio on the lower level.
Where is this mixed-use property located?
The property is located at 21 Stanwood Street Brunswick, ME.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Vacant first floor available for a new user; Lower level occupied by a fitness studio; Historic brick‑and‑beam building constructed in 1850
