Building Details

Year Built 1981

Building Size 4,900 SF

Listing Agency: NextHome Experience

Listed By: Christina Patin Show Phone

Source: Aroostookrealestate

Added: Aug 2 Changed: Oct 13 Last Checked: Oct 7 at 2:14PM

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Investment Insights

Based on property information with market context.

This heated flex property contains approximately 4,900 square feet on 1.5 acres, with an open interior configuration and four oversized garage doors serving two bays. The building was constructed in 1981 and has private well and septic systems. Its former use as the Newburgh Fire Station is reflected in the vehicle-oriented layout and substantial enclosed space.

Located at 2660 Western Ave in Newburgh, the property includes ample parking and may accommodate contractor operations, storage, light industrial, warehouse, service, or recreational uses, subject to municipal approval. The combination of open floor area, garage access, and on-site infrastructure supports a range of commercial configurations.

Key Highlights

• Approximately 4,900 square feet on 1.5 acres
• Heated building with an open interior layout
• Four oversized garage doors serving two bays

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,537

Cap Rate

7.09%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$650,740 $650.7K

Cap Rate 7%

$464,814 $464.8K

Cap Rate 9%

$361,522 $361.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,900 SF

Gross rent

$41.2K $8.40/SF

− Vacancy

−$2.9K −$0.59/SF

EGI

$38.3K $7.81/SF

− OpEx

−$5.7K −$1.17/SF

NOI

$32.5K $6.64/SF

Area

Penobscot County, ME

Vacancy

7.00%

Lease Rate

$8.40 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$650,740

Cap Rate 7%

$464,814

Cap Rate 9%

$361,522

Alternative Uses

Best Use

Flex RnD

$603.7K

$528.2K – $704.3K (±1% cap)

NOI $42,258 @ 7.0% cap · market cap 9.21%

Second Best

Warehouse

$464.8K

$406.7K – $542.3K (±1% cap)

NOI $32,537 @ 7.0% cap · market cap 7.09%

Theoretical Best

Office A

$1.58M

$1.38M – $1.85M (±1% cap)

NOI $110,779 @ 7.0% cap · market cap 24.13%

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

Property Analytics

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Current Use

Newburgh First Selectman City Government Office Newburgh Town Tax ... City Tax Office

Suggested Use

Top Pick (Bike/Boat/Book/etc) 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.

Location Intelligence

Trade Area within ½ mile

4

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 04444, ME

9,304

Population

3,936

Households

2.4

Avg Household Size

42

Median Age

46%

College-Educated

98%

High-School Grad

69.0 sq mi

ZIP Area

135

Density / Sq Mi

$102,922

Median Household Income

$52,845

Median Earnings

$1,019

Median Rent

$270,900

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

Frequently Asked Questions

What type of property is this?

Flex space - Open commercial layout with private well, septic, and oversized vehicle access.

Where is this flex space located?

The property is located at 2660 Western Ave Newburgh, ME.

What is the asking price?

The asking price for this property is $459,000.

What are key features of this property?

This property features: Approximately 4,900 square feet on 1.5 acres; Heated building with an open interior layout; Four oversized garage doors serving two bays