Multi-Use Flex Building with 14-Foot
For Sale
$310,000
74 Route 133, Winthrop, ME 04364
Four shop bays plus an office and bath provide flexible space for service, storage, or showroom uses.
Property Size3,470 SF
Price / SF$89.34
Days on Market109
Property Features for 74 Route 133
General Information
Standard status
Active
Size
3,470 SF
Property subtype
General Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
14 ft
Heavy Power
Yes
Additional Details
Office Units
1
Building Details
Year Built
1973
Stories
2
Listing Agency:
LAER
(207) 446-7708
Listed By:
John Blouin
(207) 446-7708
Source:
Xome
Added: Apr 20
Changed: Jul 10
Last Checked: Jul 16 at 6:02AM
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 LAER
Investment Insights
Based on property information with market context.
This multi-purpose flex building was last used for auto repair and sales and includes a first floor configured with four shop areas and an office with a bathroom. Two of the shop areas have radiant heat in the floor, though they require a heat source to be fully operational. The first floor also features tall 14-foot ceilings, supporting a wide range of workspace layouts.
A wide staircase leads to two additional large areas on the upper level. The top floor is unfinished at this time, but offers the possibility of approximately 2,400 additional square feet of usable space. Three-phase power is at the street, and there is a large parking area out behind the building.
Located in downtown Winthrop on busy Route 133 along a major connector road, the property offers practical versatility for operators needing both work space and customer-facing flexibility. With its shop-area layout, available upper-level space, and on-site parking, it can be repurposed for office use, storage or light manufacturing, or a retail outlet depending on the tenant’s needs.
A wide staircase leads to two additional large areas on the upper level. The top floor is unfinished at this time, but offers the possibility of approximately 2,400 additional square feet of usable space. Three-phase power is at the street, and there is a large parking area out behind the building.
Located in downtown Winthrop on busy Route 133 along a major connector road, the property offers practical versatility for operators needing both work space and customer-facing flexibility. With its shop-area layout, available upper-level space, and on-site parking, it can be repurposed for office use, storage or light manufacturing, or a retail outlet depending on the tenant’s needs.
Key Highlights
- 3,100 SF of first‑floor usable space with four shop areas plus an office and bathroom
- First floor features 14‑foot ceilings and multiple zones for flexible service, storage, or showroom layouts
- Second level offers a possible additional 2,400 SF of unfinished space accessible by a wide staircase
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
$21,905
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
7.07%
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%
$438,100
$438.1K
Cap Rate 7%
$312,929
$312.9K
Cap Rate 9%
$243,389
$243.4K
Market Conditions
NOI Build-Up for 3,470 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
$34.6K $9.96/SF
− Vacancy
−$861 −$0.25/SF
EGI
$33.7K $9.71/SF
− OpEx
−$11.8K −$3.40/SF
NOI
$21.9K $6.31/SF
Area
Kennebec County, ME
Vacancy
2.49%
Lease Rate
$9.96 /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%
$438,100
Cap Rate 7%
$312,929
Cap Rate 9%
$243,389
Alternative Uses
Best Use
Warehouse
$5.18M
$4.53M – $6.04M
NOI $362,383 @ 7.0% cap · market cap 116.90%
Second Best
Industrial
$4.26M
$3.73M – $4.97M
NOI $298,433 @ 7.0% cap · market cap 96.27%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
1
Office units
Yes
Heavy power
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
257
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 04364, ME
6,115
Population
3,342
Households
1.8
Avg Household Size
47
Median Age
37%
College-Educated
98%
High-School Grad
31.1 sq mi
ZIP Area
197
Density / Sq Mi
$82,858
Median Household Income
$44,602
Median Earnings
$1,031
Median Rent
$273,100
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.
Similar Off Market Nearby
- Lilac Mixology & Catering Tasting Room - Winthrop — 129 Main St, Winthrop, ME 04364
Frequently Asked Questions
What type of property is this?
Flex space - Four shop bays plus an office and bath provide flexible space for service, storage, or showroom uses.
Where is this flex space located?
The property is located at 74 Route 133 Winthrop, ME.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 3,100 SF of first‑floor usable space with four shop areas plus an office and bathroom; First floor features 14‑foot ceilings and multiple zones for flexible service, storage, or showroom layouts; Second level offers a possible additional 2,400 SF of unfinished space accessible by a wide staircase
