Building Details

Building Size 1,556 SF

Listing Agency: Meservier & Associates k***@meservier.com Show Phone

Listed By: Carey Murcin Show Phone

Source: Amerorealty

Added: Oct 23, 2023 Changed: Oct 31 Last Checked: Oct 31 at 2:24PM

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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 Meservier & Associates

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Investment Insights

Based on property information with market context.

This mixed-use property on Route 202 includes space previously operated as an auto body shop and an attached efficiency apartment. The apartment may serve as a convenience for an owner or be rented for additional income.

The property has 580 feet of road frontage along Route 202 and is zoned General Development. Businesses outside automotive use require town approval; the town is open to considering new ideas for the space.

Key Highlights

• 580 feet of road frontage on Route 202
• Attached efficiency apartment
• Previously operated as an auto body shop

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,359

Cap Rate

6.33%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$367,180 $367.2K

Cap Rate 7%

$262,271 $262.3K

Cap Rate 9%

$203,989 $204.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,556 SF

Gross rent

$33.6K $21.60/SF

− Vacancy

−$4.2K −$2.72/SF

EGI

$29.4K $18.88/SF

− OpEx

−$11.0K −$7.08/SF

NOI

$18.4K $11.80/SF

Area

Androscoggin County, ME

Vacancy

12.60%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$367,180

Cap Rate 7%

$262,271

Cap Rate 9%

$203,989

Alternative Uses

Best Use

Industrial

$2.28M

$1.99M – $2.66M (±1% cap)

NOI $159,312 @ 7.0% cap · market cap 54.94%

Second Best

Mixed Use

$262.3K

$229.5K – $306.0K (±1% cap)

NOI $18,359 @ 7.0% cap · market cap 6.33%

Theoretical Best

Warehouse

$2.76M

$2.42M – $3.22M (±1% cap)

NOI $193,450 @ 7.0% cap · market cap 66.71%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Auto shops

Suggested Use

Top Pick Building Supply Electrical Service Garden Center Storage Facility Furniture & Home Goods Grocery & Convenience 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

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

43

Businesses Nearby

6k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Circle K Shops & Services

6,494 visits/mo 0.1 miles

Demographics for 04236, ME

4,376

Population

1,847

Households

2.4

Avg Household Size

46

Median Age

20%

College-Educated

94%

High-School Grad

32.3 sq mi

ZIP Area

135

Density / Sq Mi

$91,736

Median Household Income

$49,705

Median Earnings

$1,106

Median Rent

$238,700

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - An attached efficiency apartment offers a separate residential component alongside the former auto body shop space.

Where is this mixed-use property located?

The property is located at 781 Route 202 Greene, ME.

What is the asking price?

The asking price for this property is $290,000.

What are key features of this property?

This property features: 580 feet of road frontage on Route 202; Attached efficiency apartment; Previously operated as an auto body shop