Building Details

Year built 2004

Listing Agency: Sanford, Maine · Better Homes and Gardens Real Estate i***@Masiello.com Show Phone

Listed By: John Caramihalis Show Phone

Added: Sep 10 Changed: Oct 16 Last Checked: Oct 28 at 1:06AM

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MLS# 1680117

Copyright © 2026 Better Homes and Gardens-The Masiello Group. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This 1,200-square-foot flex property in Wells, Maine, was built in 2004 and provides heated commercial space for a range of business operations. The building includes a 12' x 14' overhead garage door, generator hookup, wiring for a welder, and a newer water heater. An office area may be finished, while upstairs storage adds functional space for equipment or materials.

The property also conveys deeded outdoor space, extending the usable area beyond the building itself. Located at 356 N Berwick Road in Wells, the site offers a practical combination of enclosed workspace, storage capability, utility features, and exterior area for commercial use.

Key Highlights

• 1,200 square feet of heated flex space
• 12' x 14' overhead garage door
• Generator hookup and wiring for a welder

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,822

Cap Rate

8.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$336,440 $336.4K

Cap Rate 7%

$240,314 $240.3K

Cap Rate 9%

$186,911 $186.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,200 SF

Gross rent

$26.4K $21.96/SF

− Vacancy

−$472 −$0.39/SF

EGI

$25.9K $21.57/SF

− OpEx

−$9.1K −$7.55/SF

NOI

$16.8K $14.02/SF

Area

York County, ME

Vacancy

1.79%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$336,440

Cap Rate 7%

$240,314

Cap Rate 9%

$186,911

Alternative Uses

Best Use

Flex RnD

$240.3K

$210.3K – $280.4K (±1% cap)

NOI $16,822 @ 7.0% cap · market cap 8.01%

Second Best

Industrial

$176.8K

$154.7K – $206.2K (±1% cap)

NOI $12,374 @ 7.0% cap · market cap 5.89%

Theoretical Best

Office A

$380.4K

$332.9K – $443.8K (±1% cap)

NOI $26,628 @ 7.0% cap · market cap 12.68%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Southern Maine Renewable ... Big Box & Wholesale Store Mainely Ticks Garden Center TLC for Safe Lawns Landscaping

Suggested Use

Top Pick Electrical Service Auto Parts Store Storage Facility Furniture & Home Goods Big Box & Wholesale Store Grocery & Convenience 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

33

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 04090, ME

11,314

Population

9,590

Households

1.2

Avg Household Size

53

Median Age

38%

College-Educated

92%

High-School Grad

57.7 sq mi

ZIP Area

196

Density / Sq Mi

$83,900

Median Household Income

$47,928

Median Earnings

$1,313

Median Rent

$445,800

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

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Frequently Asked Questions

What type of property is this?

Flex space - Heated commercial space with generator hookup, welder wiring, and deeded outdoor area.

Where is this flex space located?

The property is located at 356 N Berwick Road Wells, ME.

What is the asking price?

The asking price for this property is $210,000.

What are key features of this property?

This property features: 1,200 square feet of heated flex space; 12' x 14' overhead garage door; Generator hookup and wiring for a welder