Turnkey Investment Property in
11 King Street, Biddeford, ME 04005
MULTI_FAMILY - Biddeford, ME
Property size:
3,853 SFLot size:
0.09 AcresPrice / SF:
$233/SF- Added:
- Apr 15, 2026
- Days on Market:
- 49
- Last Refresh:
- Jun 2 at 4:06 pm
Property Features for 11 King Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- MSRD2
- Bathrooms
- 5
- Rooms
- Bathroom 5, Bathroom 2, Bathroom 1, Bathroom 3, Bathroom 4, Basement
- Parking features
- Off Street
- Basement
- Unfinished, Full
- Standard status
- Active
- Size
- 3,853 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 8897
Utilities
- Sewer type
- Public Sewer
- Heating system
- Hot Water(Heating), Zoned, Oil, Baseboard
- Water source
- Public
Building Details
- Year built
- 1920
- Floors in Building
- 3
- Number of units
- 5
- Flooring type
- Carpet, Vinyl
- Building materials
- Wood Frame, Clapboard
- Roof type
- Fiberglass, Composition
Listing agent Danielle Lape (207) 730-2476
Listing office Kre Brokerage Group 1 River Oaks Way #1, Falmouth, ME (207) 781-2958
Listing date Apr 15, 2026
MLS# 1640594
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
- Turnkey 5‑unit investment property, 100% leased with stable rental history.
- Minutes from revitalized downtown area, restaurants, and bars.
- Multiple updates completed in recent years.
- Off‑street parking available.
- Public water and sewer connections.
- Baseboard, Zoned, Hot Water heating.
Overview
This is a turnkey, five-unit investment property that is 100% leased with a stable rental history. The property is located just minutes from the revitalized downtown area and a newly renovated mill building, near restaurants and bars. The property has undergone updates in recent years. The lot size is 0.09 acres. The property size is 3,853 square feet. The zoning is MSRD2.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $114.2k | $29.64 |
| − Vacancy | −$5.9k | −$1.54 |
| EGI | $108.3k | $28.10 |
| − OpEx | −$48.7k | −$12.64 |
| NOI | $59.5k | $15.45 |
3,853 SF · lease $29.64/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$850.6K
$744.3K – $992.4K
NOI $59,545 @ 7.0% cap · market cap 6.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,497 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Biddeford Taxi Service ...
Courier Service
Location Insight
- Map
- Local Demand
- City
- Biddeford
- County
- York
- State
- Maine
- Longitude
- -70.453396
- Latitude
- 43.491094
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Five-unit, fully leased investment property near downtown Biddeford.
Where is this apartment building located?
The property is located at 11 King Street Biddeford, ME.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Turnkey 5‑unit investment property, 100% leased with stable rental history.; Minutes from revitalized downtown area, restaurants, and bars.; Multiple updates completed in recent years.
