Five-Unit Apartment
New
For Sale
$625,000
107 Broad Street, Auburn, ME 04210
Multi-Family, Auburn, ME
Property Size3,156 SF
Lot Size0.12 Acres
Price / SF$198.04
Days on Market1
Property Features for 107 Broad Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MFU
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bathroom 1, Basement, Bathroom 2, Bathroom 5, Bathroom 3
Parking features
Off Street
Basement
Full, Unfinished
Lot features
Level, Sidewalks, Near Town, Neighborhood
Standard status
Active
Size
3,156 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4182
Utilities
Sewer type
Public Sewer
Heating system
Oil, Hot Water(Heating), Forced Air
Water source
Public
Building Details
Year built
1927
Floors in Building
3
Number of units
5
Flooring type
Laminate, Wood
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 10
Last Checked: Sep 10 at 9:06PM
MLS# 1680074
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.
Located at 107 Broad Street in Auburn, this 3,156-square-foot apartment property contains five units and was built in 1927. The building is fully occupied and includes a basement, five bathrooms, wood-frame construction, and vinyl siding. Interior finishes include laminate and wood flooring.
The 0.12-acre property is served by public water and public sewer, with off-street parking available. A shingle roof completes the exterior, while MFU zoning supports its multifamily classification. Its Auburn location provides an established municipal setting for a residential income property.
The 0.12-acre property is served by public water and public sewer, with off-street parking available. A shingle roof completes the exterior, while MFU zoning supports its multifamily classification. Its Auburn location provides an established municipal setting for a residential income property.
Key Highlights
- Five‑unit apartment property with 3,156 square feet
- Fully occupied residential income property
- Built in 1927 with wood‑frame construction and vinyl siding
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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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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied property with off-street parking and public water and sewer.
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 with 3,156 square feet; Fully occupied residential income property; Built in 1927 with wood‑frame construction and vinyl siding
