Building Details

Building Size 1,320 SF

Year Built 2020

Buildings 1

Stories 1

Listing Agency: Berkshire Hathaway HomeServices Northeast Real Estate Show Phone

Listed By: Lea Worster Show Phone

Source: Startpoint

Added: Dec 11, 2025 Changed: Sep 18 Last Checked: Sep 18 at 2:41PM

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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 Berkshire Hathaway HomeServices Northeast Real Estate

Investment Insights

Based on property information with market context.

This mixed-use property includes a 2-acre lot with a 30'X44' garage completed in 2020. The building is heated, insulated, drywalled, and finished with 16 ft ceilings, plus an attached 8X32 covered porch. Interior areas currently include garage space, a kitchen area, full bath, and partially finished living areas that can be reconfigured.

A drilled well and septic system provide water and septic disposal for the property. The site has road frontage on Old County Road and is approximately 2 miles from I-95. The garage includes two doors measuring 9x7 and 12x14, with 16 ft high ceilings. Zoning is rural11.

Key Highlights

• 2‑acre lot with road frontage on Old County Road
• 30'X44' heated, insulated, drywalled garage completed in 2020
• Garage features finished 16 ft ceilings and an attached 8X32 covered porch

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

$11,384

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

5.69%

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%

$227,680 $227.7K

Cap Rate 7%

$162,629 $162.6K

Cap Rate 9%

$126,489 $126.5K

Market Conditions

NOI Build-Up for 1,320 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

$18.5K $14.04/SF

− Vacancy

−$1.0K −$0.77/SF

EGI

$17.5K $13.27/SF

− OpEx

−$6.1K −$4.64/SF

NOI

$11.4K $8.62/SF

Area

Penobscot County, ME

Vacancy

5.50%

Lease Rate

$14.04 /SF/Yr

Expense Ratio

35.00%

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%

$227,680

Cap Rate 7%

$162,629

Cap Rate 9%

$126,489

Alternative Uses

Best Use

Flex RnD

$162.6K

$142.3K – $189.7K (±1% cap)

NOI $11,384 @ 7.0% cap · market cap 5.69%

Second Best

Mixed Use

$135.1K

$118.2K – $157.7K (±1% cap)

NOI $9,459 @ 7.0% cap · market cap 4.73%

Theoretical Best

Office A

$426.3K

$373.0K – $497.4K (±1% cap)

NOI $29,843 @ 7.0% cap · market cap 14.93%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Big Box & Wholesale Store Pet Store

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

16 ft

Clear height

2

Drive-in doors

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

4

Businesses Nearby

Explore this area Business Placement

Demographics for 04434, ME

1,230

Population

614

Households

2

Avg Household Size

44

Median Age

13%

College-Educated

87%

High-School Grad

24.7 sq mi

ZIP Area

50

Density / Sq Mi

$68,788

Median Household Income

$35,250

Median Earnings

$145,400

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Mixed-use property - Heated, insulated improvements support flexible business, workshop, and living-space configurations.

Where is this mixed-use property located?

The property is located at 700 Old County Road Etna, ME.

What is the asking price?

The asking price for this property is $199,900.

What are key features of this property?

This property features: 2‑acre lot with road frontage on Old County Road; 30'X44' heated, insulated, drywalled garage completed in 2020; Garage features finished 16 ft ceilings and an attached 8X32 covered porch