Building Details

Year built 1971

Number of units 2

Flooring type Carpet, Concrete

Building materials Masonry, Wood Frame, Aluminum Siding, Vinyl Siding

Roof type Fiberglass

Listing Agency: Keller Williams Coastal and Lakes & Mountains Realty · Keller Williams Realty f***@kw.com Show Phone

Listed By: George O'Connell Show Phone

Added: Sep 17 Last Checked: Sep 23 at 12:06AM

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MLS# 1680970

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 mixed-use property combines a 2,753-square-foot commercial building with an attached two-bedroom home on Route 236 in Berwick. The commercial portion includes 14-foot by 14-foot overhead doors on opposite sides, allowing vehicles and equipment to pass through the building. Masonry and wood-frame construction, aluminum and vinyl siding, concrete and carpet flooring, and multiple heating systems are part of the existing improvements.

The property occupies a 1.1-acre lot within the RC/I zoning district. Public water serves the site, and the residential component includes maintained front and rear yards that provide separation from the commercial area. The connected home can support on-site occupancy, rental use, or staff housing, while the commercial building accommodates business and industrial activities, including automotive-related operations.

Key Highlights

• 2,753‑square‑foot mixed‑use property with attached two‑bedroom home
• 14‑foot by 14‑foot overhead doors on both sides of the commercial building
• 1.1‑acre lot along Route 236 in Berwick

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

$42,546

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

5.67%

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%

$850,920 $850.9K

Cap Rate 7%

$607,800 $607.8K

Cap Rate 9%

$472,733 $472.7K

Market Conditions

NOI Build-Up for 2,753 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

$81.6K $29.64/SF

− Vacancy

−$4.2K −$1.54/SF

EGI

$77.4K $28.10/SF

− OpEx

−$34.8K −$12.64/SF

NOI

$42.5K $15.45/SF

Area

York County, ME

Vacancy

5.20%

Lease Rate

$29.64 /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%

$850,920

Cap Rate 7%

$607,800

Cap Rate 9%

$472,733

Alternative Uses

Best Use

Apartment 5plus

$607.8K

$531.8K – $709.1K (±1% cap)

NOI $42,546 @ 7.0% cap · market cap 5.67%

Second Best

Flex RnD

$551.3K

$482.4K – $643.2K (±1% cap)

NOI $38,593 @ 7.0% cap · market cap 5.15%

Theoretical Best

Office A

$872.7K

$763.6K – $1.02M (±1% cap)

NOI $61,088 @ 7.0% cap · market cap 8.15%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Flex space

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

8

Businesses Nearby

Explore this area Business Placement

Demographics for 03901, ME

7,937

Population

3,617

Households

2.2

Avg Household Size

40

Median Age

35%

College-Educated

96%

High-School Grad

37.5 sq mi

ZIP Area

212

Density / Sq Mi

$77,790

Median Household Income

$53,333

Median Earnings

$1,237

Median Rent

$331,300

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

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 - Combined commercial and residential improvements support business operations, on-site living, rental income, or staff housing.

Where is this mixed-use property located?

The property is located at 92 ME-236 Highway Berwick, ME.

What is the asking price?

The asking price for this property is $750,000.

What are key features of this property?

This property features: 2,753‑square‑foot mixed‑use property with attached two‑bedroom home; 14‑foot by 14‑foot overhead doors on both sides of the commercial building; 1.1‑acre lot along Route 236 in Berwick