Multifamily Investment Opportunity in
79 W Cutts Street Biddeford, ME 04005
For Sale
$2,750,000
MULTI_FAMILY - Colonial, Ranch - Biddeford, ME
Property Size8,808 SF
Lot Size1.10 Acres
Price / SF$312.22
Days on Market11
Property Features for 79 W Cutts Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
MSRD-2
Bathrooms
10
Rooms
Bathroom 6, Bathroom 2, Bathroom 1, Basement, Bathroom 7, Bathroom 9, Bathroom 8, Bathroom 4, Bathroom 5, Bathroom 10, Bathroom 3
Basement
Unfinished, Full
Standard status
Active
Size
8,808 SF
Lot size
1.10 Acres
Taxes and HOA fees
Tax Year
25
Tax Annual Amount
28747
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1900
Number of units
10
Flooring type
Vinyl, Hardwood, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Composition, Shingle
Architectural style
Colonial, Ranch
Listing Agency:
The Real Estate Store
(207) 883-4327
Listed By:
David Dunn
(207) 807-6038
Added: Jul 20
Changed: Jul 28
Last Checked: Jul 30 at 6:06AM
MLS# 1659566
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 offering comprises three buildings totaling 10 units. The property at 79 W Cutts Street contains five units, while 6 Banks Lane features a three-unit building constructed in 2003, and 4 Banks Lane includes a two-unit building completed in 2023. The combined square footage of all three buildings is 8808 square feet, incorporating a total of 18 bedrooms. Zoned MSRD-2, the property allows for the construction of an additional 13 units, subject to planning board approval. This presents an ideal opportunity for a potential condominium project. The lot size is 1.1 acres.
Key Highlights
- Three‑building, 10‑unit property: #79 W Cutts (5 units), #6 Banks Lane (3 units), and #4 Banks Lane (2 units).
- Total building area across all three buildings is 8,808 SF with 18 bedrooms.
- Unit builds include #6 Banks Lane built in 2003 and #4 Banks Lane built in 2023.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $261.1k | $29.64 |
| − Vacancy | −$13.6k | −$1.54 |
| EGI | $247.5k | $28.10 |
| − OpEx | −$111.4k | −$12.64 |
| NOI | $136.1k | $15.45 |
8,808 SF · lease $29.64/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.94M
$1.70M – $2.27M
NOI $136,121 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.79M
$2.44M – $3.26M
NOI $195,446 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Ten-unit multifamily property with development potential in Biddeford, Maine.
Where is this apartment building located?
The property is located at 79 W Cutts Street Biddeford, ME.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Three‑building, 10‑unit property: #79 W Cutts (5 units), #6 Banks Lane (3 units), and #4 Banks Lane (2 units).; Total building area across all three buildings is 8,808 SF with 18 bedrooms.; Unit builds include #6 Banks Lane built in 2003 and #4 Banks Lane built in 2023.
