Five-Unit Apartment
For Sale
$625,000
107 Broad Street, Auburn, ME 04210
Fully occupied multifamily property with well-maintained units and a natural gas on-demand boiler.
Property Size3,156 SF
Price / SF$198.04
Days on Market9
Property Features for 107 Broad Street
General Information
Standard status
Active
Size
3,156 SF
Property subtype
Multi-family
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
5
Building Details
Year Built
1927
Listing Agency:
EXP Realty
Listed By:
Patrick Matheson
(603) 866-2942
Source:
Profoundrealestate
Added: Sep 7
Changed: Sep 14
Last Checked: Sep 14 at 7:36AM
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 EXP Realty
Investment Insights
Based on property information with market context.
This five-unit apartment property at 107 Broad Street includes well-maintained units and a natural gas on-demand boiler. Built in 1927, the building is fully occupied and measures 3,156 square feet.
The property is located in Auburn, Maine, with access to the highway, downtown Auburn, and local amenities. Its existing occupancy and established unit configuration provide a clear operating profile for a multifamily owner.
The property is located in Auburn, Maine, with access to the highway, downtown Auburn, and local amenities. Its existing occupancy and established unit configuration provide a clear operating profile for a multifamily owner.
Key Highlights
- Five‑unit apartment property
- Fully occupied
- 3,156 square feet
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
$29,575
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
4.73%
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%
$591,500
$591.5K
Cap Rate 7%
$422,500
$422.5K
Cap Rate 9%
$328,611
$328.6K
Market Conditions
NOI Build-Up for 3,156 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
$54.5K $17.28/SF
− Vacancy
−$763 −$0.24/SF
EGI
$53.8K $17.04/SF
− OpEx
−$24.2K −$7.67/SF
NOI
$29.6K $9.37/SF
Area
Androscoggin County, ME
Vacancy
1.40%
Lease Rate
$17.28 /SF/Yr
Expense Ratio
45.00%
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%
$591,500
Cap Rate 7%
$422,500
Cap Rate 9%
$328,611
Alternative Uses
Best Use
Apartment 5plus
$422.5K
$369.7K – $492.9K
NOI $29,575 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.61M
$4.90M – $6.54M
NOI $392,370 @ 7.0% cap · market cap 62.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
456
Businesses Nearby
Explore this area
Business Placement
Demographics for 04210, ME
24,061
Population
11,113
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
59.3 sq mi
ZIP Area
406
Density / Sq Mi
$66,552
Median Household Income
$42,624
Median Earnings
$983
Median Rent
$254,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with well-maintained units and a natural gas on-demand boiler.
Where is this apartment building located?
The property is located at 107 Broad Street Auburn, 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: Five‑unit apartment property; Fully occupied; 3,156 square feet
