Corner Duplex with Development
For Sale
$495,000
84 County Road, Scarborough, ME 04074
1.11-acre corner lot with a two-story duplex, screened porch, detached garage, and a large yard/parking area.
Property Size2,584 SF
Lot Size1.11 Acres
Price / SF$191.56
Days on Market564
Property Features for 84 County Road
General Information
Standard status
Active
Size
2,584 SF
Lot size
1.11 Acres
Property subtype
Commercial
Zoning
Town & Village Centers Transition District
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1778
Stories
2
Listing Agency:
Keller Williams Realty
Listed By:
Kirk Butterfield
(603) 433-3350
Source:
Greatislandrealty
Added: Feb 26, 2025
Changed: Sep 12
Last Checked: Sep 12 at 10:54AM
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 1.11-acre corner lot includes a large two-story duplex with a screened-in farmer’s porch, along with a detached garage and a spacious yard/parking area. The property is positioned on Route 22 at a lighted intersection.
It sits in the Town & Village Centers Transition District, which allows for a range of commercial and residential uses, including retail, professional offices, and restaurants. The site is also near Route 114, with quick access to the Maine Turnpike and I-295, supporting strong visibility and traffic flow. Nearby businesses include Dunkin’, Aroma Joe’s, Nouria Convenience Store, Sirloin’s Butcher Shop, and 1st Stop Convenience Store, providing convenient retail adjacency for a redeveloped or renovated use.
It sits in the Town & Village Centers Transition District, which allows for a range of commercial and residential uses, including retail, professional offices, and restaurants. The site is also near Route 114, with quick access to the Maine Turnpike and I-295, supporting strong visibility and traffic flow. Nearby businesses include Dunkin’, Aroma Joe’s, Nouria Convenience Store, Sirloin’s Butcher Shop, and 1st Stop Convenience Store, providing convenient retail adjacency for a redeveloped or renovated use.
Key Highlights
- 1.11‑acre corner lot on Route 22 at a lighted intersection
- Large two‑story duplex on‑site with a screened‑in farmer's porch
- Includes detached garage plus a spacious yard/parking area
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
$42,483
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
8.58%
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%
$849,660
$849.7K
Cap Rate 7%
$606,900
$606.9K
Cap Rate 9%
$472,033
$472.0K
Market Conditions
NOI Build-Up for 2,584 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
$82.2K $31.80/SF
− Vacancy
−$4.9K −$1.91/SF
EGI
$77.2K $29.89/SF
− OpEx
−$34.8K −$13.45/SF
NOI
$42.5K $16.44/SF
Area
Cumberland County, ME
Vacancy
6.00%
Lease Rate
$31.80 /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%
$849,660
Cap Rate 7%
$606,900
Cap Rate 9%
$472,033
Alternative Uses
Best Use
Multifamily LT 5
$652.3K
$570.8K – $761.1K
NOI $45,663 @ 7.0% cap · market cap 9.22%
Second Best
Apartment 5plus
$606.9K
$531.0K – $708.1K
NOI $42,483 @ 7.0% cap · market cap 8.58%
Theoretical Best
Office A
$710.2K
$621.4K – $828.6K
NOI $49,715 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
Explore this area
Business Placement
Demographics for 04074, ME
21,952
Population
10,561
Households
2.1
Avg Household Size
46
Median Age
58%
College-Educated
99%
High-School Grad
47.6 sq mi
ZIP Area
461
Density / Sq Mi
$125,642
Median Household Income
$55,955
Median Earnings
$1,821
Median Rent
$502,700
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
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Frequently Asked Questions
What type of property is this?
Duplex - 1.11-acre corner lot with a two-story duplex, screened porch, detached garage, and a large yard/parking area.
Where is this duplex located?
The property is located at 84 County Road Scarborough, ME.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 1.11‑acre corner lot on Route 22 at a lighted intersection; Large two‑story duplex on‑site with a screened‑in farmer's porch; Includes detached garage plus a spacious yard/parking area
