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    Turnkey Multi-Unit Near Beach Title is generated by Realmo AI

    107 Ocean Avenue, Old Orchard Beach, ME 04064

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    Claim this Listing
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    For Sale
    $699,999

    MULTI_FAMILY - Other - Old Orchard Beach, ME

    Property size:
    2,199 SF
    Lot size:
    0.09 Acres
    Price / SF:
    $318/SF
    Added:
    May 4, 2026
    Days on Market:
    5
    Last Refresh:
    May 8 at 6:06 pm

    Property Features for 107 Ocean Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R2
    Bathrooms
    3
    Rooms
    Bathroom 3, Bathroom 2, Bathroom 1, Basement
    Parking features
    On Street
    Pets allowed
    No
    Interior features
    Shower
    Basement
    Partial, Unfinished
    Standard status
    Active
    Size
    2,199 SF
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    4116

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard
    Water source
    Public

    Building Details

    Year built
    1880
    Number of units
    3
    Flooring type
    Tile, Wood
    Building materials
    Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Mitchell Holman

    Listing agent Mitchell Holman

    Listing office Century 21 North East 653 Roosevelt Trail, Windham, ME

    Listing date May 4, 2026

    MLS# 1652589 Listing URL

    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.

    HighLights

    • Walking distance to the beach in Old Orchard Beach.
    • Significant renovations completed in 2022, including new roof, siding, electrical, plumbing, heating systems, and water heaters.
    • Turnkey multi‑unit property requiring minimal immediate maintenance.
    • Separate meters for each unit (electrical, heating, propane) for ease of management.
    • Driveway provides off‑street parking.
    • Updated living spaces throughout due to extensive interior renovations.

    Overview

    Located in Old Orchard Beach, this turnkey multi-unit property at 107 Ocean Ave features three units and has undergone significant renovations completed in 2022. The renovations include a new roof and siding, exterior improvements, updated electrical and plumbing systems, three new heating systems, three new hybrid water heaters, and numerous new windows. The property also features extensive interior renovations, offering updated living spaces throughout. Additional features include two closed in glass porches, a peaceful backyard, and ample basement storage. A driveway has been installed. Each unit is separately metered with its own electrical panel, dual heating systems, and individual propane tanks. The property, situated on a 0.09-acre lot, is zoned R2 and offers 2199 square feet of living space. It is located within walking distance to the beach. This property is suitable for use as an investment property, Airbnb, or owner-occupied multi-unit.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Restaurant Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Old Orchard Beach
    County
    York
    State
    Maine
    Longitude
    -70.388684
    Latitude
    43.511289

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    FAQs

    What type of property is this?
    Triplex - Renovated three-unit property near the beach in Old Orchard Beach.
    Where is this triplex located?
    The property is located at 107 Ocean Avenue Old Orchard Beach, ME.
    What is the asking price?
    The asking price for this property is $699,999.
    What are key features of this property?
    This property features: Walking distance to the beach in Old Orchard Beach.; Significant renovations completed in 2022, including new roof, siding, electrical, plumbing, heating systems, and water heaters.; Turnkey multi‑unit property requiring minimal immediate maintenance.
    (207) 831-2518
    We can help!
    Listing Contact
    Mitchell Holman
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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