Two-Bay Flex
New
For Sale
$750,000
92 Route 236, Berwick, ME 03901
Connected two-bedroom residence adds on-site living or staff housing flexibility.
Property Size2,753 SF
Lot Size1.10 Acres
Days on Market5
Property Features for 92 Route 236
General Information
Standard status
Active
Size
2,753 SF
Lot size
1.10 Acres
Property subtype
Commercial
Additional Details
Road Access
Yes
Drive-In Doors
2
Building Details
Building Size
2,753 SF
Year Built
2021
Listing Agency:
KW Coastal and Lakes & Mountains Realty/Dover
Listed By:
Gerry OConnell
(603) 610-8950
Source:
Elliman
Added: Sep 18
Last Checked: Sep 22 at 4:55PM
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 KW Coastal and Lakes & Mountains Realty/Dover
Investment Insights
Based on property information with market context.
Built in 2021, this flex property combines a two-bay commercial building with a connected two-bedroom home. The commercial structure is designed for industrial and business operations, including automotive-related use, and has overhead doors on both sides to support vehicle and equipment movement through the building.
The property occupies a 1.1+ acre lot along Route 236 in Berwick, with a near-square layout that provides room for parking, storage, or future expansion. The attached residence offers an on-site living option, rental use, or staff housing. Maintained front and rear yards provide separation between the home and the commercial area.
The property occupies a 1.1+ acre lot along Route 236 in Berwick, with a near-square layout that provides room for parking, storage, or future expansion. The attached residence offers an on-site living option, rental use, or staff housing. Maintained front and rear yards provide separation between the home and the commercial area.
Key Highlights
- 2021 construction
- Two‑bay commercial building with 14' x 14' overhead doors on each side
- 1.1+ acre lot with a near‑square footprint
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
$38,593
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
5.15%
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%
$771,860
$771.9K
Cap Rate 7%
$551,329
$551.3K
Cap Rate 9%
$428,811
$428.8K
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
$60.5K $21.96/SF
− Vacancy
−$1.1K −$0.39/SF
EGI
$59.4K $21.57/SF
− OpEx
−$20.8K −$7.55/SF
NOI
$38.6K $14.02/SF
Area
York County, ME
Vacancy
1.79%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
35.00%
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%
$771,860
Cap Rate 7%
$551,329
Cap Rate 9%
$428,811
Alternative Uses
Best Use
Flex RnD
$551.3K
$482.4K – $643.2K
NOI $38,593 @ 7.0% cap · market cap 5.15%
Second Best
Mixed Use
$488.5K
$427.4K – $569.9K
NOI $34,192 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$872.7K
$763.6K – $1.02M
NOI $61,088 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Balanced
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - Connected two-bedroom residence adds on-site living or staff housing flexibility.
Where is this flex space located?
The property is located at 92 Route 236 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: 2021 construction; Two‑bay commercial building with 14' x 14' overhead doors on each side; 1.1+ acre lot with a near‑square footprint
