Smart-Enabled Triplex
For Sale
$1,150,000
6 Proctor Road, Biddeford, ME 04005
Multi-Family, Biddeford, ME
Property Size4,911 SF
Lot Size1.10 Acres
Price / SF$234.17
Days on Market37
Property Features for 6 Proctor Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RF
Bathrooms
4
Full bathrooms
4
Rooms
Basement, Bathroom 2, Bathroom 4, Bathroom 1, Bathroom 3
Parking features
Heated, Open
Security features
Security System
Patio and Porch features
Deck
Interior features
Other Amenities, Walk-in Closets, Attic, Bathtub, Shower, Primary Bedroom w/Bath
Basement
Full, Unfinished
Lot features
Level, Suburban
Standard status
Active
Size
4,911 SF
Lot size
1.10 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
8199
Utilities
Sewer type
Septic Tank, Private Sewer
Heating system
Radiant, Propane (Heating), Heat Pump (Heating), Natural Gas, Zoned, Forced Air, Electric (Heating)
Cooling system
Heat Pump
Water source
Private, Well
Amenities
smart technology
radiant floor heating
laundry rooms
custom tiled bathrooms
Viessmann heating system
metal roof
generators
ductless mini-splits
full networking
Bose surround sound
paved parking
separate electric meters
in-ground propane tanks with remote monitoring
Building Details
Year built
1941
Number of units
3
Flooring type
Wood, Plank, Tile, Carpet, Laminate, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle, Membrane, Metal
Architectural style
Cottage, Colonial, Contemporary
Additional Structures
Other
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
John Krouse
(207) 929-0956
Added: Jul 19
Changed: Aug 23
Last Checked: Aug 24 at 6:06PM
MLS# 1643996
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 4,911-square-foot triplex property includes three separate smart-enabled buildings on 1.1 acres. The main residence offers three bedrooms, an in-law suite with a private kitchen, two laundry rooms, custom tiled bathrooms, radiant heat in selected areas, a Viessmann heating system, and a 20KW whole-house generator. A detached building includes a full bath, two ductless mini-splits, networking infrastructure, and structural planning for a future second story. The cottage has an open layout, washer and dryer, mounted television, Bose surround sound, and its own 10KW generator.
App-based controls connect lighting, locks, cameras, thermostats, and alarms across the buildings. Separate electric meters, individual in-ground propane tanks with remote monitoring, paved parking, and a leach field installed in 2021 add practical operating features. The property is near downtown Biddeford, the University of New England, beaches, restaurants, and I-95, with RF zoning and private well and septic systems.
App-based controls connect lighting, locks, cameras, thermostats, and alarms across the buildings. Separate electric meters, individual in-ground propane tanks with remote monitoring, paved parking, and a leach field installed in 2021 add practical operating features. The property is near downtown Biddeford, the University of New England, beaches, restaurants, and I-95, with RF zoning and private well and septic systems.
Key Highlights
- Three‑building triplex property totaling 4,911 square feet on 1.1 acres
- Current cap rate of 13.52 percent
- Main residence includes three bedrooms plus an in‑law suite with its own kitchen
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
$83,135
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
7.23%
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%
$1,662,700
$1.7M
Cap Rate 7%
$1,187,643
$1.2M
Cap Rate 9%
$923,722
$923.7K
Market Conditions
NOI Build-Up for 4,911 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
$124.9K $25.44/SF
− Vacancy
−$6.2K −$1.26/SF
EGI
$118.8K $24.18/SF
− OpEx
−$35.6K −$7.25/SF
NOI
$83.1K $16.93/SF
Area
York County, ME
Vacancy
4.94%
Lease Rate
$25.44 /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%
$1,662,700
Cap Rate 7%
$1,187,643
Cap Rate 9%
$923,722
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.39M
NOI $83,135 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$1.08M
$948.7K – $1.26M
NOI $75,896 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $108,973 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
Median Home Value
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 - Three connected buildings support flexible residential and rental configurations with app-controlled systems.
Where is this triplex located?
The property is located at 6 Proctor Road Biddeford, ME.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Three‑building triplex property totaling 4,911 square feet on 1.1 acres; Current cap rate of 13.52 percent; Main residence includes three bedrooms plus an in‑law suite with its own kitchen
