Two-Unit Duplex With Office
For Sale
$299,900
11 Church Street, Oakland, ME 04963
Separate utilities let each unit carry its own heat and electricity costs.
Property Size2,600 SF
Price / SF$115.35
Days on Market227
Property Features for 11 Church Street
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Multi-family
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Keller Williams Realty
Listed By:
Francois Rodrigue
(603) 866-2942
Source:
Profoundrealestate
Added: Feb 3
Changed: Sep 17
Last Checked: Sep 16 at 8:19PM
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 Realty
Investment Insights
Based on property information with market context.
This 2,600-square-foot duplex contains two residential units along with additional office space. Separate utilities serve the units, and tenants pay their own heat and electricity. The office area may offer a path to expanded living space for the first-floor unit, subject to confirmation of permitted uses with local officials.
Sewer lines were replaced approximately four years ago, and Rinnai heaters were installed approximately two years ago. The property is located in Oakland, just minutes from Waterville and near shopping, dining, services, and other local amenities.
Sewer lines were replaced approximately four years ago, and Rinnai heaters were installed approximately two years ago. The property is located in Oakland, just minutes from Waterville and near shopping, dining, services, and other local amenities.
Key Highlights
- 2,600 SF duplex with two residential units
- Additional office space may support expanded first‑floor living area, subject to local‑use verification
- Separate utilities for each unit
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
$25,328
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
8.45%
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%
$506,560
$506.6K
Cap Rate 7%
$361,829
$361.8K
Cap Rate 9%
$281,422
$281.4K
Market Conditions
NOI Build-Up for 2,600 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
$46.8K $18.00/SF
− Vacancy
−$749 −$0.29/SF
EGI
$46.1K $17.71/SF
− OpEx
−$20.7K −$7.97/SF
NOI
$25.3K $9.74/SF
Area
Kennebec County, ME
Vacancy
1.60%
Lease Rate
$18.00 /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%
$506,560
Cap Rate 7%
$361,829
Cap Rate 9%
$281,422
Alternative Uses
Best Use
Multifamily LT 5
$414.8K
$363.0K – $483.9K
NOI $29,036 @ 7.0% cap · market cap 9.68%
Second Best
Apartment 5plus
$361.8K
$316.6K – $422.1K
NOI $25,328 @ 7.0% cap · market cap 8.45%
Theoretical Best
Warehouse
$3.88M
$3.39M – $4.53M
NOI $271,526 @ 7.0% cap · market cap 90.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
221
Businesses Nearby
Explore this area
Business Placement
Demographics for 04963, ME
7,358
Population
4,279
Households
1.7
Avg Household Size
45
Median Age
24%
College-Educated
95%
High-School Grad
51.1 sq mi
ZIP Area
144
Density / Sq Mi
$73,611
Median Household Income
$49,913
Median Earnings
$885
Median Rent
$228,200
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Separate utilities let each unit carry its own heat and electricity costs.
Where is this duplex located?
The property is located at 11 Church Street Oakland, ME.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 2,600 SF duplex with two residential units; Additional office space may support expanded first‑floor living area, subject to local‑use verification; Separate utilities for each unit
