Storefront with Multifamily
For Sale
$229,000
111 Alfred Road, Biddeford, ME 04005
Existing barbershop space in the MSRD1 Main Street Revitalization District, with flexibility for business or residential redevelopment.
Property Size712 SF
Lot Size0.03 Acres
Price / SF$321.63
Days on Market448
Property Features for 111 Alfred Road
General Information
Standard status
Active
Size
712 SF
Lot size
0.03 Acres
Property subtype
Commercial
Zoning
MSRD1
Taxes and HOA fees
Annual Taxes
$2,814
Building Details
Building Size
712 SF
Year Built
1770
Listing Agency:
Conlon Realty
(207) 292-8715
Listed By:
Noelle Conlon
(207) 292-8715
Source:
Startpoint
Added: Jun 9, 2025
Changed: Aug 29
Last Checked: Aug 29 at 8:06PM
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 Conlon Realty
Investment Insights
Based on property information with market context.
This 712-square-foot storefront occupies a 0.03-acre lot and is currently configured for barbershop operations. The property dates to 1770 and sits within the MSRD1 Main Street Revitalization District, supporting a range of redevelopment considerations.
The zoning is identified as allowing either a business space or a 2-3 unit multifamily building, giving the property both commercial and residential use potential. Located in downtown Biddeford, the site offers an opportunity to retain its current storefront function or pursue a different permitted configuration.
The zoning is identified as allowing either a business space or a 2-3 unit multifamily building, giving the property both commercial and residential use potential. Located in downtown Biddeford, the site offers an opportunity to retain its current storefront function or pursue a different permitted configuration.
Key Highlights
- 712 square feet on a 0.03‑acre lot
- MSRD1 Main Street Revitalization District zoning
- Currently operating as a barbershop
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
$8,646
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
3.78%
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%
$172,920
$172.9K
Cap Rate 7%
$123,514
$123.5K
Cap Rate 9%
$96,067
$96.1K
Market Conditions
NOI Build-Up for 712 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
$13.5K $18.96/SF
− Vacancy
−$1.1K −$1.61/SF
EGI
$12.4K $17.35/SF
− OpEx
−$3.7K −$5.20/SF
NOI
$8.6K $12.14/SF
Area
York County, ME
Vacancy
8.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
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%
$172,920
Cap Rate 7%
$123,514
Cap Rate 9%
$96,067
Alternative Uses
Best Use
Retail
$123.5K
$108.1K – $144.1K
NOI $8,646 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$225.7K
$197.5K – $263.3K
NOI $15,799 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
839
Businesses Nearby
107k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Shops & Services 42%
Electronics 2%
Hotels & Casinos 1%
Circle K
Shops & Services
28,339 visits/mo
0.3 miles
Wendy's
Dining
21,249 visits/mo
0.5 miles
Dunkin' Donuts
Dining
15,824 visits/mo
0.1 miles
Taco Bell
Dining
10,281 visits/mo
0.2 miles
Ocean State Job Lot
Shops & Services
9,999 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Existing barbershop space in the MSRD1 Main Street Revitalization District, with flexibility for business or residential redevelopment.
Where is this storefront property located?
The property is located at 111 Alfred Road Biddeford, ME.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: 712 square feet on a 0.03‑acre lot; MSRD1 Main Street Revitalization District zoning; Currently operating as a barbershop
