Four-Unit
10 Gray Street, Waterville, ME 04901
For Sale
$250,000
The residential property is zoned RC and dates to 1900.
Property Size2,250 SF
Price / SF$111.11
Days on Market168
Property Features for 10 Gray Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Real Broker
(207) 272-3984
Listed By:
Adrian Sincyr
(207) 614-9211
Source:
Integrityhomesrealestategroup
Added: May 27
Changed: Nov 7
Last Checked: Nov 8 at 8:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Broker
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Investment Insights
Based on property information with market context.
This 2,250-square-foot quadplex contains four units. Built in 1900, the property carries an RC zoning designation.
The building is minutes from downtown Waterville, with shopping, restaurants, and everyday services nearby.
The building is minutes from downtown Waterville, with shopping, restaurants, and everyday services nearby.
Key Highlights
- Four‑unit residential property
- 2,250 square feet
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,919
Cap Rate
8.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$438,380
$438.4K
Cap Rate 7%
$313,129
$313.1K
Cap Rate 9%
$243,544
$243.5K
Market Conditions
NOI Build-Up for 2,250 SF
Gross rent
$40.5K $18.00/SF
− Vacancy
−$648 −$0.29/SF
EGI
$39.9K $17.71/SF
− OpEx
−$17.9K −$7.97/SF
NOI
$21.9K $9.74/SF
Area
Kennebec County, ME
Vacancy
1.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$438,380
Cap Rate 7%
$313,129
Cap Rate 9%
$243,544
Alternative Uses
Best Use
Multifamily LT 5
$359.0K
$314.1K – $418.8K
NOI $25,127 @ 7.0% cap · market cap 10.05%
Second Best
Apartment 5plus
$313.1K
$274.0K – $365.3K
NOI $21,919 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$639.5K
$559.6K – $746.1K
NOI $44,764 @ 7.0% cap · market cap 17.91%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
601
Businesses Nearby
Explore this area
Business Placement
Demographics for 04901, ME
26,491
Population
12,084
Households
2.2
Avg Household Size
41
Median Age
30%
College-Educated
93%
High-School Grad
78.8 sq mi
ZIP Area
336
Density / Sq Mi
$54,122
Median Household Income
$33,623
Median Earnings
$957
Median Rent
$188,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - The residential property is zoned RC and dates to 1900.
Where is this quadplex located?
The property is located at 10 Gray Street Waterville, ME.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Four‑unit residential property; 2,250 square feet; Built in 1900
