Warehouse with
For Sale
$289,900
Pending
66 James Way, Windham, ME 04062
The property includes storage, radiant heat, and hot-water features with on-site gravel parking.
Property Size2,674 SF
Days on Market354
Property Features for 66 James Way
General Information
Standard status
Pending
Size
2,674 SF
Zoning
F
Taxes and HOA fees
Annual Taxes
$2,002
Amenities
Overhead Doors
Radiant, Hot Water
Storage
Gravel, On Site, Off Street
Building Details
Building Size
2,674 SF
Year Built
2010
Stories
2
Listing Agency:
Spectrum Real Estate
(207) 233-6699
Listed By:
Fred Andrews
(207) 233-6699
Source:
Evrealestate
Added: Sep 12, 2025
Changed: Aug 30
Last Checked: Aug 30 at 3:32PM
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 Spectrum Real Estate
Investment Insights
Based on property information with market context.
This warehouse property at 66 James Way in Windham, Maine, was built in 2010 and includes dedicated storage space. Interior features include radiant and hot-water systems. Exterior parking is provided on site and off street over a gravel surface.
The property is located in Cumberland County and carries F zoning. GPS directions are identified as accurate for access to the site.
The property is located in Cumberland County and carries F zoning. GPS directions are identified as accurate for access to the site.
Key Highlights
- Warehouse property built in 2010
- Storage space included
- Radiant and hot‑water interior features
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
$20,778
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
7.17%
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%
$415,560
$415.6K
Cap Rate 7%
$296,829
$296.8K
Cap Rate 9%
$230,867
$230.9K
Market Conditions
NOI Build-Up for 2,674 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
$25.3K $9.48/SF
− Vacancy
−$905 −$0.34/SF
EGI
$24.4K $9.14/SF
− OpEx
−$3.7K −$1.37/SF
NOI
$20.8K $7.77/SF
Area
Cumberland County, ME
Vacancy
3.57%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$415,560
Cap Rate 7%
$296,829
Cap Rate 9%
$230,867
Alternative Uses
Best Use
Warehouse
$296.8K
$259.7K – $346.3K
NOI $20,778 @ 7.0% cap · market cap 7.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$735.0K
$643.1K – $857.5K
NOI $51,447 @ 7.0% cap · market cap 17.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04062, ME
18,464
Population
8,695
Households
2.1
Avg Household Size
42
Median Age
42%
College-Educated
98%
High-School Grad
46.7 sq mi
ZIP Area
395
Density / Sq Mi
$98,946
Median Household Income
$57,505
Median Earnings
$1,189
Median Rent
$370,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - The property includes storage, radiant heat, and hot-water features with on-site gravel parking.
Where is this warehouse located?
The property is located at 66 James Way Windham, ME.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Warehouse property built in 2010; Storage space included; Radiant and hot‑water interior features
