Building Details

Building Size 3,564 SF

Year Built 1900

Buildings 1

Stories 2

Tenancy Multi

Listing Agency: Portside Real Estate Group i***@portsidereg.com Show Phone

Listed By: Brenton Sawyer Show Phone

Source: Amerorealty

Added: Aug 23, 2023 Changed: Oct 31 Last Checked: Oct 31 at 2:14PM

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Investment Insights

Based on property information with market context.

This 3,564-square-foot mixed-use building, constructed in 1900, contains three units: two commercial spaces and an upper-level studio apartment set apart from the office areas. The larger commercial unit spans two floors and includes three offices, a conference room, reception area, kitchenette, and an open second-floor area with a full kitchen. The rear commercial space has two offices and a half bathroom.

At 9 Gilman Avenue, the property is in downtown Brunswick, just off Maine Street. It is zoned GM6.

Key Highlights

• Three units: two commercial spaces and one upper‑level studio apartment
• 3,564 square feet; built in 1900
• Larger commercial unit spans two floors, with three offices, a conference room, reception area, and kitchenette

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$44,265

Cap Rate

7.38%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$885,300 $885.3K

Cap Rate 7%

$632,357 $632.4K

Cap Rate 9%

$491,833 $491.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,564 SF

Gross rent

$77.0K $21.60/SF

− Vacancy

−$6.2K −$1.73/SF

EGI

$70.8K $19.87/SF

− OpEx

−$26.6K −$7.45/SF

NOI

$44.3K $12.42/SF

Area

Cumberland County, ME

Vacancy

8.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$885,300

Cap Rate 7%

$632,357

Cap Rate 9%

$491,833

Alternative Uses

Best Use

Mixed Use

$632.4K

$553.3K – $737.8K (±1% cap)

NOI $44,265 @ 7.0% cap · market cap 7.38%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$979.6K

$857.1K – $1.14M (±1% cap)

NOI $68,570 @ 7.0% cap · market cap 11.43%

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

Mixed-use properties

Suggested Use

Top Pick Locksmith Computer & Electronic Repair Tech Support Center Florist (Bike/Boat/Book/etc) Store 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.

Lease Details

2

Office units

1

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,352

Businesses Nearby

Explore this area Business Placement

Demographics for 04011, ME

21,756

Population

9,440

Households

2.3

Avg Household Size

44

Median Age

52%

College-Educated

96%

High-School Grad

46.8 sq mi

ZIP Area

465

Density / Sq Mi

$74,102

Median Household Income

$40,075

Median Earnings

$1,341

Median Rent

$343,600

Median Home Value

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The property combines two commercial spaces with a separate upper-level studio apartment.

Where is this mixed-use property located?

The property is located at 9 Gilman Avenue Brunswick, ME.

What is the asking price?

The asking price for this property is $600,000.

What are key features of this property?

This property features: Three units: two commercial spaces and one upper‑level studio apartment; 3,564 square feet; built in 1900; Larger commercial unit spans two floors, with three offices, a conference room, reception area, and kitchenette