Historic Mixed-Use
107 Berwick Road, Berwick, ME 03901
For Sale
$899,000
A four-bedroom residence and three-bedroom apartment are complemented by additional rooms and a two-car garage.
Property Size4,702 SF
Price / SF$191.20
Days on Market195
Property Features for 107 Berwick Road
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Condition
Tenant in Place
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Listing Agency:
Keller Williams Coastal and Lakes & Mountains Realty
(207) 475-0999
Listed By:
Nola Cady
(207) 337-3534
Source:
Amerorealty
Added: Apr 29
Changed: Nov 7
Last Checked: Nov 8 at 6:16PM
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 Keller Williams Coastal and Lakes & Mountains Realty
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Investment Insights
Based on property information with market context.
Dating to circa 1790, the main residence has been rebuilt with updated electrical, plumbing, insulation, siding, walls, ceilings, and foundation work. Refinished original and new wood floors extend across the first two levels. The home includes a kitchen and dining area, 2.5 remodeled bathrooms, and five working fireplaces. Current occupancy includes a four-bedroom home and a three-bedroom apartment.
An ell added in 2023 contains a two-car garage, an apartment, and additional rooms; two of those rooms currently serve as apartment bedrooms. The property is zoned R1 & R2, and the information describes residential and commercial use as permitted. The additional spaces were previously used for commercial purposes.
An ell added in 2023 contains a two-car garage, an apartment, and additional rooms; two of those rooms currently serve as apartment bedrooms. The property is zoned R1 & R2, and the information describes residential and commercial use as permitted. The additional spaces were previously used for commercial purposes.
Key Highlights
- Main residence dates to circa 1790 and includes five working fireplaces
- Current configuration includes a four‑bedroom home and a three‑bedroom apartment
- 2023 ell addition provides a two‑car garage, apartment, and additional rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,597
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,591,940
$1.6M
Cap Rate 7%
$1,137,100
$1.1M
Cap Rate 9%
$884,411
$884.4K
Market Conditions
NOI Build-Up for 4,702 SF
Gross rent
$119.6K $25.44/SF
− Vacancy
−$5.9K −$1.26/SF
EGI
$113.7K $24.18/SF
− OpEx
−$34.1K −$7.25/SF
NOI
$79.6K $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 Rate 5%
$1,591,940
Cap Rate 7%
$1,137,100
Cap Rate 9%
$884,411
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$995.0K – $1.33M
NOI $79,597 @ 7.0% cap · market cap 8.85%
Second Best
Apartment 5plus
$1.04M
$908.3K – $1.21M
NOI $72,666 @ 7.0% cap · market cap 8.08%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,336 @ 7.0% cap · market cap 11.61%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
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Business Placement
Demographics for 03901, ME
7,937
Population
3,617
Households
2.2
Avg Household Size
40
Median Age
35%
College-Educated
96%
High-School Grad
37.5 sq mi
ZIP Area
212
Density / Sq Mi
$77,790
Median Household Income
$53,333
Median Earnings
$1,237
Median Rent
$331,300
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in York County, ME
Properties on Market for Mixed-use properties in York County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A four-bedroom residence and three-bedroom apartment are complemented by additional rooms and a two-car garage.
Where is this mixed-use property located?
The property is located at 107 Berwick Road Berwick, ME.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Main residence dates to circa 1790 and includes five working fireplaces; Current configuration includes a four‑bedroom home and a three‑bedroom apartment; 2023 ell addition provides a two‑car garage, apartment, and additional rooms
