Renovated Office
118 Alfred Street, Biddeford, ME 04005
For Sale
$499,000
A single-level workspace offers on-site parking and a setting near Biddeford shops and restaurants.
Property Size2,416 SF
Price / SF$206.54
Days on Market1017
Property Features for 118 Alfred Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Kennebunk Beach Realty
(207) 967-5481
Listed By:
Daniel Roche
(207) 205-0432
Source:
Integrityhomesrealestategroup
Added: Jan 30, 2024
Changed: Nov 11
Last Checked: Nov 11 at 2:25AM
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 Kennebunk Beach Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,416-square-foot office building was constructed in 1976 and has been renovated. The single-level property is currently used for office purposes, and the business operating there has outgrown the space. On-site parking serves the building, a practical feature in Biddeford.
At 118 Alfred Street, the property is close to restaurants and shops. It is zoned MSRD2, with the source describing multiple uses as allowed under that designation.
At 118 Alfred Street, the property is close to restaurants and shops. It is zoned MSRD2, with the source describing multiple uses as allowed under that designation.
Key Highlights
- 2,416 square feet of office space
- Single‑level building constructed in 1976
- Renovated office property, currently used for business operations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,574
Cap Rate
7.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$791,480
$791.5K
Cap Rate 7%
$565,343
$565.3K
Cap Rate 9%
$439,711
$439.7K
Market Conditions
NOI Build-Up for 2,416 SF
Gross rent
$60.3K $24.96/SF
− Vacancy
−$7.5K −$3.12/SF
EGI
$52.8K $21.84/SF
− OpEx
−$13.2K −$5.46/SF
NOI
$39.6K $16.38/SF
Area
York County, ME
Vacancy
12.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$791,480
Cap Rate 7%
$565,343
Cap Rate 9%
$439,711
Alternative Uses
Best Use
Office B
$565.3K
$494.7K – $659.6K
NOI $39,574 @ 7.0% cap · market cap 7.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$765.9K
$670.1K – $893.5K
NOI $53,610 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,360
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
$351,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in York County, ME
Properties on Market for Office buildings in York County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - A single-level workspace offers on-site parking and a setting near Biddeford shops and restaurants.
Where is this office building located?
The property is located at 118 Alfred Street Biddeford, ME.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2,416 square feet of office space; Single‑level building constructed in 1976; Renovated office property, currently used for business operations
