5-Unit Apartment
New
For Sale
$625,000
107 Broad Street, Auburn, ME 04210
Commercial Sale, Auburn, ME
Property Size3,165 SF
Lot Size0.12 Acres
Price / SF$197.47
Days on Market2
Property Features for 107 Broad Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MFU
Rooms
Basement
Parking features
Off Street
Basement
Full, Unfinished
Standard status
Active
Size
3,165 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4182
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Forced Air, Oil
Water source
Public
Building Details
Year built
1927
Flooring type
Wood, Laminate
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Patrick Matheson
(207) 899-5691
Added: Sep 14
Last Checked: Sep 15 at 12:06AM
MLS# 1680547
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 5-unit apartment property contains 3,165 square feet on a 0.12-acre lot. Built in 1927, the building has a wood-frame structure with vinyl siding, shingle roofing, wood and laminate flooring, and basement space. The property is fully occupied and includes off-street parking.
Public water and public sewer serve the building. The property is identified under MFU zoning and is located at 107 Broad Street in Auburn, Maine, within Androscoggin County. Its existing apartment configuration provides a straightforward multifamily layout for an owner evaluating an occupied residential income property.
Public water and public sewer serve the building. The property is identified under MFU zoning and is located at 107 Broad Street in Auburn, Maine, within Androscoggin County. Its existing apartment configuration provides a straightforward multifamily layout for an owner evaluating an occupied residential income property.
Key Highlights
- 5‑unit apartment property with 3,165 square feet
- Fully occupied residential income property
- 0.12‑acre lot with off‑street parking
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
$29,659
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
4.75%
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%
$593,180
$593.2K
Cap Rate 7%
$423,700
$423.7K
Cap Rate 9%
$329,544
$329.5K
Market Conditions
NOI Build-Up for 3,165 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
$54.7K $17.28/SF
− Vacancy
−$766 −$0.24/SF
EGI
$53.9K $17.04/SF
− OpEx
−$24.3K −$7.67/SF
NOI
$29.7K $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%
$593,180
Cap Rate 7%
$423,700
Cap Rate 9%
$329,544
Alternative Uses
Best Use
Apartment 5plus
$423.7K
$370.7K – $494.3K
NOI $29,659 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.62M
$4.92M – $6.56M
NOI $393,489 @ 7.0% cap · market cap 62.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
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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?
Apartment building - Fully occupied multifamily property with public utilities, off-street parking, and a wood-frame construction profile.
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: 5‑unit apartment property with 3,165 square feet; Fully occupied residential income property; 0.12‑acre lot with off‑street parking
