Mixed-Use Property with
For Sale
$2,200,000
820 Main Street, Westbrook, ME 04092
Street-level retail is paired with apartments above and a separate drive-thru structure.
Property Size7,224 SF
Price / SF$304.54
Days on Market158
Property Features for 820 Main Street
General Information
Standard status
Active
Size
7,224 SF
Property subtype
Commercial / Mixed Use
Zoning
City Center District
Additional Details
Drive-Thru
Yes
Taxes and HOA fees
Annual Taxes
$17,990
Amenities
Multi-Level
3
.00
Pitched
Vinyl Siding, Brick
Building Details
Year Built
1930
Buildings
2
Tenancy
Multi
Listing Agency:
Keller Williams Realty
(207) 560-8000
Listed By:
Kevin Coyne
(207) 560-8000
Source:
Compass
Added: Mar 27
Changed: Aug 30
Last Checked: Aug 30 at 9:51PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 7,224-square-foot mixed-use property at 820 Main Street combines street-level retail with residential apartments on the floors above. A separate drive-thru structure is also included, creating multiple functional components within the property. The building dates to 1930 and features a pitched roof with vinyl siding and brick exterior materials.
The property is located in downtown Westbrook, ME, and carries City Center District zoning. Its multi-level configuration accommodates the retail and residential elements in one centrally located asset.
The property is located in downtown Westbrook, ME, and carries City Center District zoning. Its multi-level configuration accommodates the retail and residential elements in one centrally located asset.
Key Highlights
- 7,224 SF mixed‑use property with retail and residential components
- Street‑level retail space with apartments on upper floors
- Separate drive‑thru structure included
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
$118,767
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
5.40%
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%
$2,375,340
$2.4M
Cap Rate 7%
$1,696,671
$1.7M
Cap Rate 9%
$1,319,633
$1.3M
Market Conditions
NOI Build-Up for 7,224 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
$229.7K $31.80/SF
− Vacancy
−$13.8K −$1.91/SF
EGI
$215.9K $29.89/SF
− OpEx
−$97.2K −$13.45/SF
NOI
$118.8K $16.44/SF
Area
Cumberland County, ME
Vacancy
6.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$2,375,340
Cap Rate 7%
$1,696,671
Cap Rate 9%
$1,319,633
Alternative Uses
Best Use
Apartment 5plus
$1.70M
$1.48M – $1.98M
NOI $118,767 @ 7.0% cap · market cap 5.40%
Second Best
Mixed Use
$1.28M
$1.12M – $1.50M
NOI $89,722 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $138,987 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
655
Businesses Nearby
Explore this area
Business Placement
Demographics for 04092, ME
20,400
Population
9,404
Households
2.2
Avg Household Size
40
Median Age
40%
College-Educated
96%
High-School Grad
17.2 sq mi
ZIP Area
1,186
Density / Sq Mi
$85,868
Median Household Income
$49,922
Median Earnings
$1,373
Median Rent
$341,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level retail is paired with apartments above and a separate drive-thru structure.
Where is this mixed-use property located?
The property is located at 820 Main Street Westbrook, ME.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 7,224 SF mixed‑use property with retail and residential components; Street‑level retail space with apartments on upper floors; Separate drive‑thru structure included
