Building Details

Year Built 2002

Listed By: Kim Gleason Show Phone

Source: Mcallisterrealestate

Added: Feb 21 Changed: Sep 10 Last Checked: Sep 12 at 9:50AM

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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 Kim Gleason

Investment Insights

Based on property information with market context.

This sale includes a fully equipped auto repair shop and the real estate. The facility offers a four-bay full-service layout with three rotary overhead lifts plus six rotary portable mobile column lifts with jack posts. Included equipment features a Hunter tire machine and balancer, along with many other shop tools. The building is heated and cooled by three heat pumps, supported by a waste oil boiler with radiant heat floors throughout. Interior amenities include an office/waiting area and a private office, and the property comes with a security system and outside cameras.

The property is located on busy Route 27 in Pittston and sits on two acres. A paved parking lot supports customer and vehicle use, and there is an exterior cement pad designed for commercial trucks or motor homes.

For an owner-operator or automotive business looking to move in with established infrastructure, the configuration and equipment support ongoing full-service repair work. The site’s paved parking and dedicated outside pad provide practical space for service vehicles and arrivals, while the built-in office areas can support customer flow and day-to-day administration.

Key Highlights

• Four‑bay full‑service auto repair shop on busy Route 27 in Pittston
• Operated by the current owner since 2002; building built in 2002
• Two‑acre site with paved parking lot plus a cement pad for commercial trucks or motor homes

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

$38,318

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

6.97%

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%

$766,360 $766.4K

Cap Rate 7%

$547,400 $547.4K

Cap Rate 9%

$425,756 $425.8K

Market Conditions

NOI Build-Up for 3,968 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

$57.1K $14.40/SF

− Vacancy

−$2.4K −$0.60/SF

EGI

$54.7K $13.80/SF

− OpEx

−$16.4K −$4.14/SF

NOI

$38.3K $9.66/SF

Area

Kennebec County, ME

Vacancy

4.20%

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%

$766,360

Cap Rate 7%

$547,400

Cap Rate 9%

$425,756

Alternative Uses

Best Use

Industrial

$4.88M

$4.27M – $5.69M (±1% cap)

NOI $341,263 @ 7.0% cap · market cap 62.05%

Second Best

Retail

$547.4K

$479.0K – $638.6K (±1% cap)

NOI $38,318 @ 7.0% cap · market cap 6.97%

Theoretical Best

Warehouse

$5.92M

$5.18M – $6.91M (±1% cap)

NOI $414,391 @ 7.0% cap · market cap 75.34%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

C.W. Repair Auto Repair Shop

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Pharmacy Auto Repair Shop Storage Facility Cosmetic Store Discount 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

Service bays

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

19

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 04345, ME

12,052

Population

5,562

Households

2.2

Avg Household Size

43

Median Age

29%

College-Educated

97%

High-School Grad

71.7 sq mi

ZIP Area

168

Density / Sq Mi

$68,844

Median Household Income

$42,559

Median Earnings

$956

Median Rent

$208,700

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

Similar Off Market Nearby

• C.W. Repair — 5 Amity Ln, Pittston, ME 04345
• Light Duty Roadside Assistance — 81 Smithtown Rd, Pittston, ME 04345

Frequently Asked Questions

What type of property is this?

Auto shop - Turnkey auto repair shop with a four-bay setup, trained workspace, paved parking, and on-site truck/motorhome staging.

Where is this auto shop located?

The property is located at 5 Amity Lane Pittston, ME.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: Four‑bay full‑service auto repair shop on busy Route 27 in Pittston; Operated by the current owner since 2002; building built in 2002; Two‑acre site with paved parking lot plus a cement pad for commercial trucks or motor homes