Building Details

Year Built 1870

Listing Agency: CENTURY 21 Queen City Real Estate c***@c21queencity.com Show Phone

Listed By: Cameron Burpee

Source: Lawanaandcompany

Added: Jul 29 Changed: Aug 29 Last Checked: Aug 30 at 7:54PM

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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 CENTURY 21 Queen City Real Estate

Investment Insights

Based on property information with market context.

This mixed-use property combines 2 rented residential units with commercial space, providing multiple existing components within one 1870-built property. The site also includes 4 waterfront camper hookup sites, a large parking lot, and a garage.

Located at 77 Main St in Bradley, Maine, the property offers a combination of residential, commercial, and waterfront-related improvements. The commercial area can accommodate a future business use, while the rented units and camper hookups are already part of the property’s configuration.

Key Highlights

• 2 rented residential units
• Commercial space included
• 4 waterfront camper hookup sites

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

$36,836

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

5.68%

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%

$736,720 $736.7K

Cap Rate 7%

$526,229 $526.2K

Cap Rate 9%

$409,289 $409.3K

Market Conditions

NOI Build-Up for 2,704 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

$51.3K $18.96/SF

− Vacancy

−$2.2K −$0.80/SF

EGI

$49.1K $18.16/SF

− OpEx

−$12.3K −$4.54/SF

NOI

$36.8K $13.62/SF

Area

Penobscot County, ME

Vacancy

4.20%

Lease Rate

$18.96 /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%

$736,720

Cap Rate 7%

$526,229

Cap Rate 9%

$409,289

Alternative Uses

Best Use

Specialty Retail

$526.2K

$460.5K – $613.9K (±1% cap)

NOI $36,836 @ 7.0% cap · market cap 5.68%

Second Best

Apartment 5plus

$325.6K

$284.9K – $379.9K (±1% cap)

NOI $22,792 @ 7.0% cap · market cap 3.51%

Theoretical Best

Office A

$873.3K

$764.2K – $1.02M (±1% cap)

NOI $61,132 @ 7.0% cap · market cap 9.42%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Spencer's Ice Cream Grocery & Convenience Store

Suggested Use

Top Pick Building Supply Real Estate Agency Auto Parts Store Electrical Service Plumbing Service Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

34

Businesses Nearby

Explore this area Business Placement

Demographics for 04411, ME

1,532

Population

687

Households

2.2

Avg Household Size

45

Median Age

24%

College-Educated

95%

High-School Grad

49.5 sq mi

ZIP Area

31

Density / Sq Mi

$68,929

Median Household Income

$40,685

Median Earnings

$1,069

Median Rent

$190,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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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?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Includes rented residential units, commercial space, waterfront camper hookups, parking, and a garage.

Where is this mixed-use property located?

The property is located at 77 Main St Bradley, ME.

What is the asking price?

The asking price for this property is $649,000.

What are key features of this property?

This property features: 2 rented residential units; Commercial space included; 4 waterfront camper hookup sites