Mixed-Use Storefront with
For Sale
$200,000
392 S Main Street, Brewer, ME 04412
CB-zoned commercial building combining a street-level storefront with a one-bedroom apartment above.
Property Size1,728 SF
Days on Market963
Property Features for 392 S Main Street
General Information
Standard status
Active
Size
1,728 SF
Property subtype
Commercial
Zoning
CB
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,264
Building Details
Building Size
1,728 SF
Year Built
1910
Buildings
1
Stories
2
Listing Agency:
Realty of Maine
(207) 989-4229
Listed By:
Susan Roberts
(207) 989-4229
Source:
Startpoint
Added: Jan 4, 2024
Changed: Aug 18
Last Checked: Aug 23 at 1:07PM
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 Realty of Maine
Investment Insights
Based on property information with market context.
Built in 1910, this mixed-use property includes a commercial storefront and a one-bedroom, one-bath apartment on the upper level. The retail area features large windows, an entrance ramp, and access to the apartment from within the storefront. A separate side entrance serves the apartment, providing distinct access between the two components.
The building is located at 392 S Main Street in Brewer, near Route 15 and less than ½ mile from the I-395 exit. ME DOT traffic counts exceed 13,000 vehicles per day. Driveway access is available from both Pendleton Street and South Main Street, with a fenced and gated paved parking area accommodating over 10 spaces. The property is on the public bus route, less than ¼ mile from Brewer Community School, and within walking distance of several local parks. Zoning is CB.
The building is located at 392 S Main Street in Brewer, near Route 15 and less than ½ mile from the I-395 exit. ME DOT traffic counts exceed 13,000 vehicles per day. Driveway access is available from both Pendleton Street and South Main Street, with a fenced and gated paved parking area accommodating over 10 spaces. The property is on the public bus route, less than ¼ mile from Brewer Community School, and within walking distance of several local parks. Zoning is CB.
Key Highlights
- Mixed‑use building with a storefront and 1 bed/1 bath apartment
- CB zoning supports commercial business use
- Built in 1910 with large storefront windows and an entrance ramp
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
$14,457
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
7.23%
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%
$289,140
$289.1K
Cap Rate 7%
$206,529
$206.5K
Cap Rate 9%
$160,633
$160.6K
Market Conditions
NOI Build-Up for 1,728 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
$24.9K $14.40/SF
− Vacancy
−$4.2K −$2.45/SF
EGI
$20.7K $11.95/SF
− OpEx
−$6.2K −$3.59/SF
NOI
$14.5K $8.37/SF
Area
Penobscot County, ME
Vacancy
17.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$289,140
Cap Rate 7%
$206,529
Cap Rate 9%
$160,633
Alternative Uses
Best Use
Retail
$206.5K
$180.7K – $241.0K
NOI $14,457 @ 7.0% cap · market cap 7.23%
Second Best
Mixed Use
$176.9K
$154.8K – $206.4K
NOI $12,383 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$558.1K
$488.3K – $651.1K
NOI $39,067 @ 7.0% cap · market cap 19.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - CB-zoned commercial building combining a street-level storefront with a one-bedroom apartment above.
Where is this mixed-use property located?
The property is located at 392 S Main Street Brewer, ME.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Mixed‑use building with a storefront and 1 bed/1 bath apartment; CB zoning supports commercial business use; Built in 1910 with large storefront windows and an entrance ramp
