Warehouse and Office Flex
For Sale
Contact for pricing
328 Rodman Rd, Auburn, ME 04210
Functional warehouse-and-office layout with an overhead door and additional drive-in storage building.
Property Size2,000 SF
Price / SF$180
Days on Market66
Property Features for 328 Rodman Rd
General Information
Standard status
Active
Size
2,000 SF
Property subtype
INDUSTRIAL
Listing Agency:
Magnusson Balfour/KW Commercial a div. of Keller Williams Realty
(207) 774-7715
Listed By:
Kirk A Butterfield · License #MAINEBR918896
(207) 205-4007
Source:
Moodyscre
Added: Jun 7
Changed: Aug 8
Last Checked: Jun 10 at 1:54AM
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 Magnusson Balfour/KW Commercial a div. of Keller Williams Realty
Investment Insights
Based on property information with market context.
This versatile industrial property includes a 2,000± SF building with a practical warehouse-and-office mix. The space is supported by two bathrooms and includes one overhead door for loading and receiving. In addition to the main structure, there is a separate 42-foot storage building with a drive-in bay, providing extra capacity for equipment, materials, vehicles, or inventory.
Convenient regional access supports everyday operations, with easy connectivity to Routes 11 and 4/100/202. The location provides efficient access to Lewiston, Auburn, and the Greater Portland area, while Auburn amenities are nearby.
The overall configuration fits a range of owner-user and small business needs, including service, trade, storage, and light industrial uses where both workspace and practical warehousing are important. The oversized parking area adds day-to-day flexibility for employees, customers, or deliveries, and may offer room for future expansion subject to municipal approvals. Overall, it’s a functional setup for operators looking for adaptable industrial space with dedicated office components and additional storage.
Convenient regional access supports everyday operations, with easy connectivity to Routes 11 and 4/100/202. The location provides efficient access to Lewiston, Auburn, and the Greater Portland area, while Auburn amenities are nearby.
The overall configuration fits a range of owner-user and small business needs, including service, trade, storage, and light industrial uses where both workspace and practical warehousing are important. The oversized parking area adds day-to-day flexibility for employees, customers, or deliveries, and may offer room for future expansion subject to municipal approvals. Overall, it’s a functional setup for operators looking for adaptable industrial space with dedicated office components and additional storage.
Key Highlights
- 2,000± SF industrial building with a practical warehouse‑and‑office layout
- Includes office space, two bathrooms, and one overhead door
- Additional 42‑ft storage building with a drive‑in bay for extra capacity
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
$32,408
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
9.00%
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%
$648,160
$648.2K
Cap Rate 7%
$462,971
$463.0K
Cap Rate 9%
$360,089
$360.1K
Market Conditions
NOI Build-Up for 2,000 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
$49.4K $24.72/SF
− Vacancy
−$6.2K −$3.11/SF
EGI
$43.2K $21.61/SF
− OpEx
−$10.8K −$5.40/SF
NOI
$32.4K $16.20/SF
Area
Androscoggin County, ME
Vacancy
12.60%
Lease Rate
$24.72 /SF/Yr
Expense Ratio
25.00%
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%
$648,160
Cap Rate 7%
$462,971
Cap Rate 9%
$360,089
Alternative Uses
Best Use
Warehouse
$3.55M
$3.11M – $4.14M
NOI $248,651 @ 7.0% cap · market cap 69.07%
Second Best
Industrial
$2.93M
$2.56M – $3.41M
NOI $204,771 @ 7.0% cap · market cap 56.88%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
339
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 04210, ME
24,061
Population
11,113
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
59.3 sq mi
ZIP Area
406
Density / Sq Mi
$66,552
Median Household Income
$42,624
Median Earnings
$983
Median Rent
$254,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Functional warehouse-and-office layout with an overhead door and additional drive-in storage building.
Where is this flex space located?
The property is located at 328 Rodman Rd Auburn, ME.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 2,000± SF industrial building with a practical warehouse‑and‑office layout; Includes office space, two bathrooms, and one overhead door; Additional 42‑ft storage building with a drive‑in bay for extra capacity
