Commercial Auto Shop with Multiple
For Sale
$575,000
847 Route 3, China, ME 04358
Commercial Sale, China, ME
Property Size3,700 SF
Lot Size1.42 Acres
Price / SF$155.41
Days on Market87
Property Features for 847 Route 3
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
OUT
Lot features
Rural
Standard status
Active
Size
3,700 SF
Lot size
1.42 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3184
Utilities
Sewer type
Septic Tank, Private Sewer
Heating system
Forced Air, Other (Heating), Propane (Heating)
Water source
Well, Private
Building Details
Year built
1976
Flooring type
Concrete, Tile
Building materials
Metal Clad
Roof type
Metal
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(207) 480-1050
Listed By:
Anthony Loiko
(207) 215-9466
Added: Jun 4
Changed: Aug 19
Last Checked: Aug 29 at 2:06PM
MLS# 1665329
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,700-square-foot commercial garage occupies 1.42 acres and was built in 1976. The metal-clad structure includes concrete and tile flooring, a metal roof, and space that can accommodate multiple service bays, equipment, and storage. Forced-air and propane heating support the building, while private well water and a private septic tank serve the property.
The property fronts Route 3 in China, providing visibility from the roadway and on-site parking for customers and staff. Zoning is designated OUT. Its commercial garage configuration offers a substantial footprint for an automotive operation or another trade-oriented business requiring workspace, equipment areas, and storage.
The property fronts Route 3 in China, providing visibility from the roadway and on-site parking for customers and staff. Zoning is designated OUT. Its commercial garage configuration offers a substantial footprint for an automotive operation or another trade-oriented business requiring workspace, equipment areas, and storage.
Key Highlights
- 3,700‑square‑foot commercial garage on 1.42 acres
- Space for multiple service bays, equipment, and storage
- Located along Route 3 with roadway visibility
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
$35,730
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
6.21%
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%
$714,600
$714.6K
Cap Rate 7%
$510,429
$510.4K
Cap Rate 9%
$397,000
$397.0K
Market Conditions
NOI Build-Up for 3,700 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
$53.3K $14.40/SF
− Vacancy
−$2.2K −$0.60/SF
EGI
$51.0K $13.80/SF
− OpEx
−$15.3K −$4.14/SF
NOI
$35.7K $9.66/SF
Area
Kennebec County, ME
Vacancy
4.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$714,600
Cap Rate 7%
$510,429
Cap Rate 9%
$397,000
Alternative Uses
Best Use
Industrial
$4.55M
$3.98M – $5.30M
NOI $318,214 @ 7.0% cap · market cap 55.34%
Second Best
Retail
$510.4K
$446.6K – $595.5K
NOI $35,730 @ 7.0% cap · market cap 6.21%
Theoretical Best
Warehouse
$5.52M
$4.83M – $6.44M
NOI $386,403 @ 7.0% cap · market cap 67.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04358, ME
4,373
Population
2,461
Households
1.8
Avg Household Size
46
Median Age
35%
College-Educated
96%
High-School Grad
49.8 sq mi
ZIP Area
88
Density / Sq Mi
$93,825
Median Household Income
$48,548
Median Earnings
$1,000
Median Rent
$234,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- S & T SERVICE INC — 847 ME-3, China, ME 04358
Frequently Asked Questions
What type of property is this?
Auto shop - Metal-clad commercial garage with flexible workspace, storage capacity, and on-site parking along Route 3.
Where is this auto shop located?
The property is located at 847 Route 3 China, ME.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 3,700‑square‑foot commercial garage on 1.42 acres; Space for multiple service bays, equipment, and storage; Located along Route 3 with roadway visibility
