Warehouse and Office Flex
For Sale
Contact for pricing
328 Rodman Road, Auburn, ME 04210
Flexible warehouse and office space with a separate storage building and drive-in bay for trades, service, and small businesses.
Property Size2,000 SF
Price / SF$164
Days on Market69
Property Features for 328 Rodman Road
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
10
Property subtype
Industrial
Zoning
GB - General Business
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Drive-In Doors
1
Building Details
Year Built
1973
Buildings
2
Stories
1
Listing Agency:
Magnusson Balfour Commercial
(207) 205-4007
Listed By:
Zachary Resnikoff · License #BA928884
Source:
Crexi
Added: Jun 5
Changed: Aug 7
Last Checked: Aug 11 at 5:07PM
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 Commercial
Investment Insights
Based on property information with market context.
This versatile industrial property includes a 2,000± SF building with a practical mix of warehouse and office space. The layout is supported by two bathrooms and one overhead door to facilitate everyday loading and internal movement. In addition to the main structure, there is a separate 42-foot storage building featuring a drive-in bay, offering extra capacity for equipment, materials, vehicles, or inventory.
The property is located with easy access to Routes 11 and 4/100/202, providing convenient regional connectivity to Lewiston, Auburn, and the Greater Portland area. It also benefits from proximity to Auburn amenities, supporting day-to-day business needs.
Designed to work for an owner-user or investor, the combination of warehouse, office, and storage supports a range of service, trade, storage, light industrial, and small business uses. The oversized parking area provides additional flexibility for operations and customer or worker parking needs. Any future expansion is noted as potentially available, subject to municipal approvals, giving buyers an additional consideration if they want to scale within the existing site parameters.
The property is located with easy access to Routes 11 and 4/100/202, providing convenient regional connectivity to Lewiston, Auburn, and the Greater Portland area. It also benefits from proximity to Auburn amenities, supporting day-to-day business needs.
Designed to work for an owner-user or investor, the combination of warehouse, office, and storage supports a range of service, trade, storage, light industrial, and small business uses. The oversized parking area provides additional flexibility for operations and customer or worker parking needs. Any future expansion is noted as potentially available, subject to municipal approvals, giving buyers an additional consideration if they want to scale within the existing site parameters.
Key Highlights
- 2,000± SF industrial building with a practical mix of warehouse and office space
- Includes two bathrooms and one overhead door
- Separate 42‑foot storage building with a drive‑in bay for equipment, materials, vehicles, or inventory
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
$12,017
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
3.66%
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%
$240,340
$240.3K
Cap Rate 7%
$171,671
$171.7K
Cap Rate 9%
$133,522
$133.5K
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
$19.0K $9.48/SF
− Vacancy
−$472 −$0.24/SF
EGI
$18.5K $9.24/SF
− OpEx
−$6.5K −$3.24/SF
NOI
$12.0K $6.01/SF
Area
Androscoggin County, ME
Vacancy
2.49%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
35.00%
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%
$240,340
Cap Rate 7%
$171,671
Cap Rate 9%
$133,522
Alternative Uses
Best Use
Warehouse
$3.55M
$3.11M – $4.14M
NOI $248,651 @ 7.0% cap · market cap 75.81%
Second Best
Industrial
$2.93M
$2.56M – $3.41M
NOI $204,771 @ 7.0% cap · market cap 62.43%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible warehouse and office space with a separate storage building and drive-in bay for trades, service, and small businesses.
Where is this flex space located?
The property is located at 328 Rodman Road Auburn, ME.
What is the asking price?
The asking price for this property is $328,000.
What are key features of this property?
This property features: 2,000± SF industrial building with a practical mix of warehouse and office space; Includes two bathrooms and one overhead door; Separate 42‑foot storage building with a drive‑in bay for equipment, materials, vehicles, or inventory
