Building Details

Building Size 2,248 SF

Year Built 2006

Listing Agency: Realty of Maine J***@BuyInMaine.com Show Phone

Listed By: John Bettis Show Phone

Source: Startpoint

Added: Feb 12 Changed: Aug 14 Last Checked: Aug 24 at 12:36PM

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Investment Insights

Based on property information with market context.

This commercial building is set up for customer-facing use, featuring a large showroom and waiting area, along with a 1/2 bath. Public utilities are available. Outside, the property includes a paved yard with plenty of parking. An attached 44x32 garage provides additional storage and can support day-to-day operations.

The building is located just off I-95 in Howland, providing straightforward access for employees and visitors while keeping parking and outdoor space on-site for operational needs.

For buyers looking for a property that combines showroom space with on-site parking and flexible back-of-house support, the attached garage and paved yard are practical additions. The layout supports businesses that need both customer area and space to store equipment or run daily activities, with the public utilities already in place.

Key Highlights

• Standalone commercial building built in 2006, located just off I‑95 in Howland
• Large showroom and waiting area for customer‑facing operations
• Includes a 1/2 bath

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

$18,808

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

8.36%

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%

$376,160 $376.2K

Cap Rate 7%

$268,686 $268.7K

Cap Rate 9%

$208,978 $209.0K

Market Conditions

NOI Build-Up for 2,248 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

$32.4K $14.40/SF

− Vacancy

−$5.5K −$2.45/SF

EGI

$26.9K $11.95/SF

− OpEx

−$8.1K −$3.59/SF

NOI

$18.8K $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%

$376,160

Cap Rate 7%

$268,686

Cap Rate 9%

$208,978

Alternative Uses

Best Use

Retail

$268.7K

$235.1K – $313.5K (±1% cap)

NOI $18,808 @ 7.0% cap · market cap 8.36%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$726.0K

$635.3K – $847.1K (±1% cap)

NOI $50,823 @ 7.0% cap · market cap 22.59%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Showrooms

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Cafe & Coffee Shop Hair Salon Nail Salon Daycare Center Spa & Massage 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

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

47

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 04448, ME

1,265

Population

692

Households

1.8

Avg Household Size

52

Median Age

14%

College-Educated

92%

High-School Grad

93.9 sq mi

ZIP Area

13

Density / Sq Mi

$48,958

Median Household Income

$34,444

Median Earnings

$938

Median Rent

$115,600

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 showrooms located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Showroom - Standalone building with a large showroom, attached garage storage, and paved yard parking for business operations.

Where is this showroom located?

The property is located at 55 Lagrange Road Howland, ME.

What is the asking price?

The asking price for this property is $225,000.

What are key features of this property?

This property features: Standalone commercial building built in 2006, located just off I‑95 in Howland; Large showroom and waiting area for customer‑facing operations; Includes a 1/2 bath