Lakefront Mixed-Use
For Sale
$595,000
8 Emery Corner Road, Limerick, ME 04048
Multi-Family, Limerick, ME
Property Size2,064 SF
Lot Size0.30 Acres
Price / SF$288.28
Days on Market62
Property Features for 8 Emery Corner Road
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
Village
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bathroom 2
Security features
Security System
Basement
Finished, Walk-Out Access, Full
Lot features
Corner Lot, Level, Intown, Near Shopping
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, Natural Gas, Baseboard, Hot Water(Heating), Propane (Heating)
Water source
Public
Water front features
Lake, Waterfront
Water front
1
Amenities
private dock
swim area
beach access point
Building Details
Year built
1950
Floors in Building
2
Number of units
2
Flooring type
Carpet, Vinyl, Laminate
Building materials
Masonry, Wood Frame, Clapboard, Other Exterior
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(207) 282-5988
Listed By:
Robert Letellier · License #BA916091
(207) 590-5178
Added: Jul 11
Changed: Sep 9
Last Checked: Sep 10 at 8:06AM
MLS# 1655282
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 2,064-square-foot mixed-use property on 0.30 acres includes two occupied rental units and an on-site laundromat. The upper-front unit is a studio renovated approximately four years ago, while the lower-rear unit received new flooring, plumbing updates, a stove, paint, and replacement windows during July–September 2025. Both apartments have dimmable lighting. The property also includes a utility room with separate heating, hot-water, and security systems for the laundromat.
Located on the shores of Sokokis Lake at 8 Emery Corner Road in Limerick, the property has deep-water frontage, a private dock, a swim area, and a small beach access point. Lake views and proximity to local dining and coffee shops add to the setting. Public water and sewer serve the property. Improvements include updated electrical panels and wiring, newer windows and doors, tankless hot-water systems, and a shingle roof replaced in phases.
Located on the shores of Sokokis Lake at 8 Emery Corner Road in Limerick, the property has deep-water frontage, a private dock, a swim area, and a small beach access point. Lake views and proximity to local dining and coffee shops add to the setting. Public water and sewer serve the property. Improvements include updated electrical panels and wiring, newer windows and doors, tankless hot-water systems, and a shingle roof replaced in phases.
Key Highlights
- 2,064 SF mixed‑use property on 0.30 acres
- Two fully occupied rental units plus an on‑site laundromat
- Deep‑water Sokokis Lake frontage with private dock, swim area, and small beach access point
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
$34,940
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
5.87%
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%
$698,800
$698.8K
Cap Rate 7%
$499,143
$499.1K
Cap Rate 9%
$388,222
$388.2K
Market Conditions
NOI Build-Up for 2,064 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
$52.5K $25.44/SF
− Vacancy
−$2.6K −$1.26/SF
EGI
$49.9K $24.18/SF
− OpEx
−$15.0K −$7.25/SF
NOI
$34.9K $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%
$698,800
Cap Rate 7%
$499,143
Cap Rate 9%
$388,222
Alternative Uses
Best Use
Multifamily LT 5
$499.1K
$436.8K – $582.3K
NOI $34,940 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$455.7K
$398.7K – $531.6K
NOI $31,898 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$654.3K
$572.5K – $763.3K
NOI $45,799 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
70
Businesses Nearby
Explore this area
Business Placement
Demographics for 04048, ME
3,188
Population
1,565
Households
2
Avg Household Size
41
Median Age
24%
College-Educated
94%
High-School Grad
27.1 sq mi
ZIP Area
118
Density / Sq Mi
$90,125
Median Household Income
$45,791
Median Earnings
$1,153
Median Rent
$264,200
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two occupied apartments and an on-site laundromat combine residential and commercial uses at the property.
Where is this mixed-use property located?
The property is located at 8 Emery Corner Road Limerick, ME.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 2,064 SF mixed‑use property on 0.30 acres; Two fully occupied rental units plus an on‑site laundromat; Deep‑water Sokokis Lake frontage with private dock, swim area, and small beach access point
