5-Unit Apartment
For Sale
$894,900
11 King Street, Biddeford, ME 04005
The building is fully leased and has received multiple updates in recent years.
Property Size3,853 SF
Price / SF$232.26
Days on Market388
Property Features for 11 King Street
General Information
Standard status
Active
Size
3,853 SF
Property subtype
Multi Family Home
Zoning
MSRD2
Occupancy
100%
Additional Details
Multifamily Units
5
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$8,897
Building Details
Building Size
3,853 SF
Year Built
1920
Stories
3
Units
5
Listing Agency:
Kre Brokerage Group
(207) 781-2958
Listed By:
Danielle Lape
(207) 730-2476
Source:
Integrityhomesrealestategroup
Added: Oct 11, 2025
Changed: Oct 30
Last Checked: Oct 29 at 10:02PM
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 Kre Brokerage Group
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Investment Insights
Based on property information with market context.
This 5-unit apartment building contains 3,853 square feet and was built in 1920. The property has undergone multiple updates in recent years and is fully leased, with a history of stable rental performance.
Located at 11 King Street in Biddeford, the property is a few minutes from the downtown area, a renovated mill building, and restaurants and bars. The site is zoned MSRD2.
Located at 11 King Street in Biddeford, the property is a few minutes from the downtown area, a renovated mill building, and restaurants and bars. The site is zoned MSRD2.
Key Highlights
- Five residential units in 3,853 square feet
- 100% leased
- Built in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,545
Cap Rate
6.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,190,900
$1.2M
Cap Rate 7%
$850,643
$850.6K
Cap Rate 9%
$661,611
$661.6K
Market Conditions
NOI Build-Up for 3,853 SF
Gross rent
$114.2K $29.64/SF
− Vacancy
−$5.9K −$1.54/SF
EGI
$108.3K $28.10/SF
− OpEx
−$48.7K −$12.64/SF
NOI
$59.5K $15.45/SF
Area
York County, ME
Vacancy
5.20%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,190,900
Cap Rate 7%
$850,643
Cap Rate 9%
$661,611
Alternative Uses
Best Use
Apartment 5plus
$850.6K
$744.3K – $992.4K
NOI $59,545 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,497 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,356
Businesses Nearby
Explore this area
Business Placement
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - The building is fully leased and has received multiple updates in recent years.
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 $894,900.
What are key features of this property?
This property features: Five residential units in 3,853 square feet; 100% leased; Built in 1920
