Flex Space with Retail
For Sale
$1,700,000
641 Main Rd, Holden, ME 04429
Multi-level commercial space combines retail, shop, and office areas with substantial on-site parking.
Property Size10,500 SF
Price / SF$170
Days on Market9
Property Features for 641 Main Rd
General Information
Standard status
Active
Size
10,500 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
1
Stories
2
Building Size
10,500 SF
Construction
wooden clapboard
Listing Agency:
De Raat Realty
(207) 326-8448
Listed By:
Medan de Raat
Source:
603luxury
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 29 at 11:58AM
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 De Raat Realty
Investment Insights
Based on property information with market context.
This flex-space property provides a combination of open retail area, shop and office space on the ground floor, and additional space upstairs. The configuration supports a range of retail and office-oriented applications within one commercial building.
The property fronts Route 1A along a busy roadway and includes a large parking lot. Traditional wooden clapboard siding contributes to the building’s exterior character, while the property has been maintained to a high standard.
The property fronts Route 1A along a busy roadway and includes a large parking lot. Traditional wooden clapboard siding contributes to the building’s exterior character, while the property has been maintained to a high standard.
Key Highlights
- Open retail area within a flexible commercial building
- Ground‑floor shop and office space
- Additional second‑floor commercial space
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
$141,361
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
8.32%
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%
$2,827,220
$2.8M
Cap Rate 7%
$2,019,443
$2.0M
Cap Rate 9%
$1,570,678
$1.6M
Market Conditions
NOI Build-Up for 10,000 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
$216.0K $21.60/SF
− Vacancy
−$27.5K −$2.75/SF
EGI
$188.5K $18.85/SF
− OpEx
−$47.1K −$4.71/SF
NOI
$141.4K $14.14/SF
Area
Penobscot County, ME
Vacancy
12.74%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$2,827,220
Cap Rate 7%
$2,019,443
Cap Rate 9%
$1,570,678
Alternative Uses
Best Use
Office B
$2.02M
$1.77M – $2.36M
NOI $141,361 @ 7.0% cap · market cap 8.32%
Second Best
Flex RnD
$1.23M
$1.08M – $1.44M
NOI $86,241 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$3.23M
$2.83M – $3.77M
NOI $226,080 @ 7.0% cap · market cap 13.30%
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
14
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04429, ME
4,925
Population
2,963
Households
1.7
Avg Household Size
48
Median Age
42%
College-Educated
98%
High-School Grad
70.6 sq mi
ZIP Area
70
Density / Sq Mi
$92,223
Median Household Income
$52,391
Median Earnings
$1,316
Median Rent
$268,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-level commercial space combines retail, shop, and office areas with substantial on-site parking.
Where is this flex space located?
The property is located at 641 Main Rd Holden, ME.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Open retail area within a flexible commercial building; Ground‑floor shop and office space; Additional second‑floor commercial space
