Three-Unit Property with Unit
For Sale
$350,000
18 Franklin Street, Augusta, ME 04330
Multi-Family, Augusta, ME
Property Size2,452 SF
Lot Size0.11 Acres
Price / SF$142.74
Days on Market14
Property Features for 18 Franklin Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RC
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Basement
Parking features
Off Street
Patio and Porch features
Deck, Porch
Pets allowed
No
Interior features
1st Floor Bedroom, Bathtub
Basement
Unfinished
Lot features
Level, Intown, Near Shopping, Neighborhood
Standard status
Active
Size
2,452 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4577
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Zoned, Baseboard, Oil
Water source
Public
Building Details
Year built
1880
Floors in Building
2
Number of units
3
Flooring type
Wood, Carpet, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Metal
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Francois Rodrigue
(207) 873-9013
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 22 at 5:06PM
MLS# 1679867
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 1880 three-unit property contains 2,452 square feet on a 0.11-acre lot. The unit mix includes two two-bedroom apartments and one one-bedroom apartment; the one-bedroom layout may be converted to two bedrooms with town approval. Interior finishes include vinyl, wood, and carpet flooring, while heating is provided by zoned oil-fired hot-water baseboard systems.
Located at 18 Franklin Street in Augusta, Maine, the property has public water and public sewer service. Exterior features include vinyl siding, a metal roof, a deck, a porch, and off-street parking. The property is zoned RC and includes a basement, three bathrooms, a first-floor bedroom, and a bathtub.
Located at 18 Franklin Street in Augusta, Maine, the property has public water and public sewer service. Exterior features include vinyl siding, a metal roof, a deck, a porch, and off-street parking. The property is zoned RC and includes a basement, three bathrooms, a first-floor bedroom, and a bathtub.
Key Highlights
- Three‑unit property with two 2‑bedroom units and one 1‑bedroom unit
- 2,452 square feet on a 0.11‑acre lot
- One‑bedroom unit may be converted to a 2‑bedroom unit with town approval
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
$27,383
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
7.82%
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%
$547,660
$547.7K
Cap Rate 7%
$391,186
$391.2K
Cap Rate 9%
$304,256
$304.3K
Market Conditions
NOI Build-Up for 2,452 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
$39.7K $16.20/SF
− Vacancy
−$604 −$0.25/SF
EGI
$39.1K $15.95/SF
− OpEx
−$11.7K −$4.79/SF
NOI
$27.4K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /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%
$547,660
Cap Rate 7%
$391,186
Cap Rate 9%
$304,256
Alternative Uses
Best Use
Multifamily LT 5
$391.2K
$342.3K – $456.4K
NOI $27,383 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$341.2K
$298.6K – $398.1K
NOI $23,886 @ 7.0% cap · market cap 6.82%
Theoretical Best
Warehouse
$3.66M
$3.20M – $4.27M
NOI $256,070 @ 7.0% cap · market cap 73.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Explore this area
Business Placement
Demographics for 04330, ME
26,322
Population
13,017
Households
2
Avg Household Size
44
Median Age
28%
College-Educated
95%
High-School Grad
116.9 sq mi
ZIP Area
225
Density / Sq Mi
$55,158
Median Household Income
$43,177
Median Earnings
$912
Median Rent
$197,600
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Wood-frame multifamily property with public utilities, off-street parking, and outdoor deck and porch areas.
Where is this triplex located?
The property is located at 18 Franklin Street Augusta, ME.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Three‑unit property with two 2‑bedroom units and one 1‑bedroom unit; 2,452 square feet on a 0.11‑acre lot; One‑bedroom unit may be converted to a 2‑bedroom unit with town approval
