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    Lakefront Mixed-Use Income Property Title is generated by Realmo AI

    8 Emery Corner Road, Limerick, ME 04048

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    For Sale
    $625,000

    MULTI_FAMILY - Ranch - Limerick, ME

    Type:Single Family Residence
    Property size:
    2,064 SF
    Lot size:
    0.30 Acres
    Price / SF:
    $302/SF
    Added:
    May 29, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 2 at 6:06 am

    Property Features for 8 Emery Corner Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Zoning
    Village
    Bathrooms
    2
    Rooms
    Basement, Bathroom 2, Bathroom 1
    Security features
    Security System
    Interior features
    One-Floor Living
    Basement
    Full, Finished, Walk-Out Access
    Standard status
    Active
    Size
    2,064 SF
    Lot size
    0.30 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    4014

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Zoned, Propane (Heating), Natural Gas, Baseboard, Hot Water(Heating)
    Water source
    Public
    Water front features
    Lake, Waterfront
    Water front
    1

    Building Details

    Year built
    1950
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Laminate, Vinyl, Carpet
    Building materials
    Masonry, Wood Frame, Clapboard, Other Exterior
    Roof type
    Shingle
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Robert Letellier

    Listing agent Robert Letellier

    Listing office Coldwell Banker Realty 120 Main Street, Suite 243, Saco, ME

    Listing date May 29, 2026

    MLS# 1655282 Listing URL

    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.

    HighLights

    • Rare mixed‑use lakefront property on Sokokis Lake with business/residential zoning.
    • Multiple income streams from two fully occupied rental units and an established on‑site laundromat.
    • Extensive updates throughout, including newer windows/doors, updated electrical, and tankless hot water.
    • Enjoy direct lake access and recreational opportunities with a private dock, swim area, and small beach access on deep water frontage.
    • Expansion potential of approximately 30% under current zoning.
    • Conveniently located within walking distance to local amenities.

    Overview

    Located on Sokokis Lake in Limerick, Maine, this mixed-use property offers a blend of residential and commercial opportunities. Zoned for business and residential use, the lakefront property includes two occupied rental units and an established laundromat, providing multiple income streams. The property has undergone updates, including newer windows and doors, updated electrical panels and wiring, and on-demand tankless hot water systems. The roof has been replaced in phases, with half completed approximately three years ago and the remaining portion several years prior. Unit A, a studio, was renovated approximately four years ago with new finishes. Unit B was recently refreshed between July and September 2025 with new flooring, updated plumbing, a new stove, fresh paint, and replacement windows. Both units feature dimmable lighting. The laundromat includes a utility room housing independent systems for heat, hot water, and security. The property offers expansion potential under current zoning. Situated on deep water frontage, the property features a private dock, swim area, and small beach access point. It is located within walking distance to local amenities, including dining and coffee shops. The property size is 2064 square feet on a 0.3-acre lot.

    Local Financial Insights For Multifamily LT 5

    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 $52.5k $25.44
    − Vacancy −$2.6k −$1.26
    EGI $49.9k $24.18
    − OpEx −$15.0k −$7.25
    NOI $34.9k $16.93
    2,064 SF · lease $25.44/SF/yr · vacancy 4.94% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $499.1K
    $436.8K – $582.3K (±1% cap)
    NOI $34,940 @ 7.0% cap · market cap 5.59%
    Second Best
    Apartment 5plus
    $455.7K
    $398.7K – $531.6K (±1% cap)
    NOI $31,898 @ 7.0% cap · market cap 5.10%
    Theoretical Best
    Office A
    $654.3K
    $572.5K – $763.3K (±1% cap)
    NOI $45,799 @ 7.0% cap · market cap 7.33%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Laundromat (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Limerick
    County
    York
    State
    Maine
    Longitude
    -70.785461
    Latitude
    43.699022

    FAQs

    What type of property is this?
    Duplex - Mixed-use property with rental units and laundromat on Sokokis Lake.
    Where is this duplex located?
    The property is located at 8 Emery Corner Road Limerick, ME.
    What is the asking price?
    The asking price for this property is $625,000.
    What are key features of this property?
    This property features: Rare mixed‑use lakefront property on Sokokis Lake with business/residential zoning.; Multiple income streams from two fully occupied rental units and an established on‑site laundromat.; Extensive updates throughout, including newer windows/doors, updated electrical, and tankless hot water.
    (207) 590-5178
    We can help!
    Listing Contact
    Robert Letellier
    Request Owner's contact information
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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.

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    8 Emery Corner Road, Limerick, ME 04048
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