Building Details

Year Built 1948

Listing Agency: CENTURY 21 Queen City Real Estate

Listed By: Christopher Pepin · License #SA929982 Show Phone

Source: Portsiderealestategroup

Added: Aug 10 Changed: Oct 11 Last Checked: Oct 16 at 9:12AM

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Investment Insights

Based on property information with market context.

This vacant flex property provides 5,281 square feet of commercial space in a configuration that combines operational and administrative areas. Improvements include four garage bays, a waiting room, dedicated office and work space, and a full bathroom with laundry. A bonus room above one garage bay adds additional enclosed space for office use, storage, or other business functions.

The property fronts South Main Street in Brewer with Penobscot River views and established commercial-corridor exposure. Its setting provides access to both Brewer and Bangor, while on-site parking supports day-to-day use. Commercial zoning and the existing mix of garage, office, waiting, and support areas provide a practical foundation for a range of business operations.

Key Highlights

• 5,281‑square‑foot vacant flex property
• Four total garage bays
• Bonus room above one garage bay

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,108

Cap Rate

9.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$622,160 $622.2K

Cap Rate 7%

$444,400 $444.4K

Cap Rate 9%

$345,644 $345.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,281 SF

Gross rent

$47.5K $9.00/SF

− Vacancy

−$3.1K −$0.59/SF

EGI

$44.4K $8.42/SF

− OpEx

−$13.3K −$2.52/SF

NOI

$31.1K $5.89/SF

Area

Penobscot County, ME

Vacancy

6.50%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$622,160

Cap Rate 7%

$444,400

Cap Rate 9%

$345,644

Alternative Uses

Best Use

Flex RnD

$650.6K

$569.3K – $759.1K (±1% cap)

NOI $45,544 @ 7.0% cap · market cap 13.43%

Second Best

Industrial

$444.4K

$388.9K – $518.5K (±1% cap)

NOI $31,108 @ 7.0% cap · market cap 9.18%

Theoretical Best

Office A

$1.71M

$1.49M – $1.99M (±1% cap)

NOI $119,393 @ 7.0% cap · market cap 35.22%

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

Property Analytics

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Current Use

All In One Auto Auto Repair Shop Intoxalock Ignition Interlock Building Supply

Suggested Use

Top Pick Pharmacy Furniture & Home Goods (Bike/Boat/Book/etc) Store Barber Shop Cafe & Coffee Shop Carpet & Flooring 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.

Lease Details

4

Drive-in doors

Location Intelligence

Trade Area within ½ mile

215

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 04412, ME

9,672

Population

4,565

Households

2.1

Avg Household Size

43

Median Age

31%

College-Educated

95%

High-School Grad

15.2 sq mi

ZIP Area

636

Density / Sq Mi

$51,490

Median Household Income

$35,700

Median Earnings

$984

Median Rent

$218,100

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 - Commercial zoning, dedicated work areas, parking, and a bonus room support varied operating needs.

Where is this flex space located?

The property is located at 385 S Main Street Brewer, ME.

What is the asking price?

The asking price for this property is $339,000.

What are key features of this property?

This property features: 5,281‑square‑foot vacant flex property; Four total garage bays; Bonus room above one garage bay