Building Details

Year Built 2020

Buildings 1

Building Size 9,600 SF

Construction steel

Listing Agency: Fontaine Family - The Real Estate Leader

Listed By: Bill Bergeron · License #BR912781 Show Phone

Source: Brendafontaine

Added: Oct 2 Changed: Nov 1 Last Checked: Nov 1 at 6:23AM

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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 Fontaine Family - The Real Estate Leader

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Investment Insights

Based on property information with market context.

Built in 2020, this 9,600 sq ft Olympia Steel flex building includes 3,200 sq ft of heated space and interior offices. The heated area has a drainage system for equipment wash-downs, and an industrial air compressor is wired in with plumbing distributed throughout the building. Exterior fuel tanks add to the property’s operational features. Vehicle and equipment access is provided by six 14x14 overhead doors and one 12x12 overhead door.

Three-phase power is available at the street. The property is located at 587 College Road in Greene, Maine.

Key Highlights

• 9,600 sq ft Olympia Steel building, constructed in 2020
• 3,200 sq ft of heated space with interior drainage for equipment wash‑downs
• Six 14x14 overhead doors and one 12x12 overhead door

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$57,682

Cap Rate

6.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,153,640 $1.2M

Cap Rate 7%

$824,029 $824.0K

Cap Rate 9%

$640,911 $640.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,600 SF

Gross rent

$91.0K $9.48/SF

− Vacancy

−$2.3K −$0.24/SF

EGI

$88.7K $9.24/SF

− OpEx

−$31.1K −$3.24/SF

NOI

$57.7K $6.01/SF

Area

Androscoggin County, ME

Vacancy

2.49%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,153,640

Cap Rate 7%

$824,029

Cap Rate 9%

$640,911

Alternative Uses

Best Use

Warehouse

$17.05M

$14.92M – $19.89M (±1% cap)

NOI $1,193,522 @ 7.0% cap · market cap 125.63%

Second Best

Industrial

$14.04M

$12.29M – $16.38M (±1% cap)

NOI $982,901 @ 7.0% cap · market cap 103.46%

Theoretical Best

—

—

same as Best Use

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Carrier Lawn and Landscape ... Landscaping

Suggested Use

Top Pick Storage Facility Big Box & Wholesale Store Hair Salon Food Market Daycare 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

7

Drive-in doors

Location Intelligence

Trade Area within ½ mile

39

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 04236, ME

4,376

Population

1,847

Households

2.4

Avg Household Size

46

Median Age

20%

College-Educated

94%

High-School Grad

32.3 sq mi

ZIP Area

135

Density / Sq Mi

$91,736

Median Household Income

$49,705

Median Earnings

$1,106

Median Rent

$238,700

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

Frequently Asked Questions

What type of property is this?

Flex space - Office rooms, fuel tanks, wash-down drainage, and compressor plumbing support a range of commercial operations.

Where is this flex space located?

The property is located at 587 College Road Greene, ME.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: 9,600 sq ft Olympia Steel building, constructed in 2020; 3,200 sq ft of heated space with interior drainage for equipment wash‑downs; Six 14x14 overhead doors and one 12x12 overhead door