Building Details

Buildings 1

Building Size 4,000 SF

Construction ICF concrete

Listing Agency: Summit Real Estate j***@gmail.com Show Phone

Listed By: Jordan Stolt Show Phone

Source: Exprealty

Added: Sep 28 Changed: Oct 30 Last Checked: Nov 1 at 7:35AM

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Investment Insights

Based on property information with market context.

This 4,000-square-foot flex building sits on approximately 13 acres and has 14-foot ceilings. Two commercial insulated garage doors measure 9' x 16' and 12' x 12'. Construction includes ICF concrete forms, 8-inch concrete walls, a 5-foot frost wall, and 6-inch concrete floors; the walls are R-40 rated. Climate control is provided by one 60,000 BTU heat pump and two 24,000 BTU heat pumps. The building also includes an ADA-accessible bathroom, space designated for a future kitchen, and a well rated at approximately 20 gallons per minute.

The acreage offers outdoor space for parking, equipment storage, or future expansion, subject to applicable approvals. The property is at 506 US Route 202 in North Monmouth, Maine.

Key Highlights

• 4,000‑square‑foot flex building on approximately 13 acres
• 14‑foot ceilings and insulated commercial garage doors measuring 9' x 16' and 12' x 12'
• ICF construction with 8‑inch concrete walls, a 5‑foot frost wall, and 6‑inch concrete floors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,251

Cap Rate

4.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$505,020 $505.0K

Cap Rate 7%

$360,729 $360.7K

Cap Rate 9%

$280,567 $280.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,000 SF

Gross rent

$39.8K $9.96/SF

− Vacancy

−$992 −$0.25/SF

EGI

$38.8K $9.71/SF

− OpEx

−$13.6K −$3.40/SF

NOI

$25.3K $6.31/SF

Area

Kennebec County, ME

Vacancy

2.49%

Lease Rate

$9.96 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$505,020

Cap Rate 7%

$360,729

Cap Rate 9%

$280,567

Alternative Uses

Best Use

Warehouse

$5.97M

$5.22M – $6.96M (±1% cap)

NOI $417,733 @ 7.0% cap · market cap 69.62%

Second Best

Industrial

$4.91M

$4.30M – $5.73M (±1% cap)

NOI $344,015 @ 7.0% cap · market cap 57.34%

Theoretical Best

—

—

same as Best Use

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

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Auto Repair Shop Garden Center Building Supply Florist Real Estate Agency Gym & Fitness Center

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

14 ft

Clear height

2

Drive-in doors

Location Intelligence

Trade Area within ½ mile

14

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

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

Frequently Asked Questions

What type of property is this?

Flex space - Thirteen acres provide outdoor area for equipment storage, parking, or future expansion, subject to applicable approvals.

Where is this flex space located?

The property is located at 506 Us Route 202 North Monmouth, ME.

What is the asking price?

The asking price for this property is $600,000.

What are key features of this property?

This property features: 4,000‑square‑foot flex building on approximately 13 acres; 14‑foot ceilings and insulated commercial garage doors measuring 9' x 16' and 12' x 12'; ICF construction with 8‑inch concrete walls, a 5‑foot frost wall, and 6‑inch concrete floors