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    138 Main St Norway, ME 04268
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    138 Main St, Norway, ME 04268

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    • Retail space
    • 16,363 SF
    • 1.00 lot acres
    For Sale
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    Hardware Store Investment Opportunity For Sale
    Contact for pricing
    16,363 SF

    Hardware Store Investment Opportunity

    100% leased hardware store with long-term tenant in place.

    138 Main Street, Norway, ME 4268
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    Property ID
    US42-0508619
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Aubuchon Hardware / Building Supply / Hardware & Home Improvement
    • Aubuchon Rental / Rental Equipment Company

    Property Details for 138 Main St

    Lot size
    1.00 lot acres
    Property type
    Retail space
    Property subtype
    Storefront properties

    Description

    This exceptional investment opportunity presents a 16,363 square foot retail property located at 138 Main St, Norway, ME 04268. The property consists of two buildings situated on one acre of land and is currently 100% occupied by a strong regional tenant, Aubuchon Hardware, under a triple-net (NNN) lease. The lease commenced January 1st, 2004, and expires December 31st, 2030, with a remaining term of approximately 6.1 years. The lease includes two five-year renewal options, extending the potential lease term to 2040. The current annual net operating income (NOI) is $100,039, with attractive 2% annual rent increases built into the lease. The asking price is $1,307,693, representing a cap rate of 7.65% and a price per square foot of $79.92. The tenant has a long-standing operational history at this location since 2004, demonstrating a commitment to the site and the community. This property offers a compelling investment opportunity for buyers seeking stable, passive income from a well-established tenant in a desirable location with limited competition. The current rent is considered below market value, presenting further upside potential. The limited landlord responsibilities inherent in the NNN lease structure contribute to headache-free ownership.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Norway
    County
    Oxford
    State
    Maine
    Longitude
    -70.531592427528
    Latitude
    44.206767332633

    Comparable in this City

    • Contact for pricing

      Hardware Store Investment Opportunity

      100% leased hardware store with long-term tenant in place.
      138 Main St, Norway, ME 04268
      View Details
    • Contact for pricing
      4,390 SF

      Historic Restaurant/Brewery in Norway

      Turn-key restaurant/brewery with outdoor seating and parking.
      237 Main St, Norway, ME 04268
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    • New
      $77,900
      3.70 Acres

      Residential Land in Established Subdivision

      3.61 acre residential lot near Norway's Main Street.
      52 High Ridge Rd, Norway, ME 04268
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    • New
      $199,000
      10.00 Acres

      Wooded Residential Land Parcel

      Wooded, private acreage off a 60-foot dirt road, offering a rural setting for building a custom home.
      11 Richards Way, Norway, ME 04268
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    • $499,999
      0.26 Acres

      Commercial Land in Norway, ME

      Commercial land available in Norway, Maine.
      419 Main St, Norway, ME 04268
      View Details
    • $77,900

      Land For Sale

      Land available for sale in Oxford County, Maine.
      52 High Ridge Rd, Norway, ME 04268
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Hardware Store Investment Opportunity

      100% leased hardware store with long-term tenant in place.
      138 Main St, Norway, ME 04268
      View Details
    • Contact for pricing
      4,390 SF

      Historic Restaurant/Brewery in Norway

      Turn-key restaurant/brewery with outdoor seating and parking.
      237 Main St, Norway, ME 04268
      View Details
    • New
      $77,900
      3.70 Acres

      Residential Land in Established Subdivision

      3.61 acre residential lot near Norway's Main Street.
      52 High Ridge Rd, Norway, ME 04268
      View Details
    • New
      $199,000
      10.00 Acres

      Wooded Residential Land Parcel

      Wooded, private acreage off a 60-foot dirt road, offering a rural setting for building a custom home.
      11 Richards Way, Norway, ME 04268
      View Details
    • $499,999
      0.26 Acres

      Commercial Land in Norway, ME

      Commercial land available in Norway, Maine.
      419 Main St, Norway, ME 04268
      View Details
    • $77,900

      Land For Sale

      Land available for sale in Oxford County, Maine.
      52 High Ridge Rd, Norway, ME 04268
      View Details

    Property Visit Statistics

    • Visits by month
      8.3k
    • Visitors by month
      5.5k
    • Avg Time on site
      16 min
    View Listing
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    Norway, ME 04268
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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