Auto Shop with Service
266 Newport Road, Corinna, ME 04928
For Sale
$399,000
Vehicle lifts and tire-service equipment remain in place alongside office and administrative areas.
Property Size3,200 SF
Price / SF$124.69
Days on Market294
Property Features for 266 Newport Road
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Road Access
Real Estate Included
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Listing Agency:
Berkshire Hathaway HomeServices Northeast Real Estate
(207) 942-8261
Listed By:
Elisha Hardy · License ME BR915418
(207) 314-2574
Source:
Integrityhomesrealestategroup
Added: Jan 22
Changed: Nov 11
Last Checked: Nov 11 at 2:17AM
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 Berkshire Hathaway HomeServices Northeast Real Estate
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Investment Insights
Based on property information with market context.
This 3,200-square-foot auto shop, built in 1989, combines a service garage with office and administrative space. Existing shop equipment includes vehicle lifts, tire rotation and balancing equipment, and additional machinery. The property is zoned RuralComm/lRural.
The building is at 266 Newport Road in Corinna, on a major road described as carrying high traffic. Its layout accommodates automotive operations and may suit other commercial or light industrial applications, subject to local approvals.
The building is at 266 Newport Road in Corinna, on a major road described as carrying high traffic. Its layout accommodates automotive operations and may suit other commercial or light industrial applications, subject to local approvals.
Key Highlights
- 3,200‑square‑foot auto shop built in 1989
- Service garage equipped with vehicle lifts
- Tire rotation and balancing equipment, plus additional shop machinery
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,772
Cap Rate
6.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$535,440
$535.4K
Cap Rate 7%
$382,457
$382.5K
Cap Rate 9%
$297,467
$297.5K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$46.1K $14.40/SF
− Vacancy
−$7.8K −$2.45/SF
EGI
$38.2K $11.95/SF
− OpEx
−$11.5K −$3.59/SF
NOI
$26.8K $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%
$535,440
Cap Rate 7%
$382,457
Cap Rate 9%
$297,467
Alternative Uses
Best Use
Retail
$382.5K
$334.7K – $446.2K
NOI $26,772 @ 7.0% cap · market cap 6.71%
Second Best
Industrial
$269.3K
$235.6K – $314.2K
NOI $18,850 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$1.03M
$904.3K – $1.21M
NOI $72,346 @ 7.0% cap · market cap 18.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 04928, ME
2,221
Population
1,004
Households
2.2
Avg Household Size
45
Median Age
12%
College-Educated
86%
High-School Grad
38.7 sq mi
ZIP Area
57
Density / Sq Mi
$62,566
Median Household Income
$39,539
Median Earnings
$1,292
Median Rent
$164,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Gerry's Used Cars- Corinna — 266 Newport Rd, Corinna, ME 04928
Frequently Asked Questions
What type of property is this?
Auto shop - Vehicle lifts and tire-service equipment remain in place alongside office and administrative areas.
Where is this auto shop located?
The property is located at 266 Newport Road Corinna, ME.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 3,200‑square‑foot auto shop built in 1989; Service garage equipped with vehicle lifts; Tire rotation and balancing equipment, plus additional shop machinery
