Mixed-Use Building with
For Sale
$425,000
44 Alfred Street, Biddeford, ME 04005
Ground-floor commercial space is paired with two apartments above and public parking across the street.
Property Size2,200 SF
Days on Market845
Property Features for 44 Alfred Street
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Commercial
Zoning
MSRD1
Taxes and HOA fees
Annual Taxes
$4,297
Building Details
Building Size
2,200 SF
Year Built
1900
Stories
2
Listing Agency:
RE/MAX Realty One
(207) 590-8655
Listed By:
Carmen Lessard · License #BR913498
(207) 590-8655
Source:
Startpoint
Added: Apr 23, 2024
Changed: Aug 13
Last Checked: Aug 15 at 1:29PM
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 RE/MAX Realty One
Investment Insights
Based on property information with market context.
Located at 44 Alfred Street in Biddeford, this mixed-use property combines an open storefront-level commercial area with two apartments on the upper floor. The flexible commercial space can accommodate a range of configurations, including retail, office, studio, salon, café, gallery, or similar business concepts, subject to applicable requirements. The building dates to 1900 and is identified with MSRD1 zoning.
The storefront is positioned in an active part of town, with public parking directly across the street. The property supports multiple operating approaches, including an owner-occupied business with residential space above or a commercial and residential income configuration, subject to applicable requirements.
The storefront is positioned in an active part of town, with public parking directly across the street. The property supports multiple operating approaches, including an owner-occupied business with residential space above or a commercial and residential income configuration, subject to applicable requirements.
Key Highlights
- Two apartments located above the storefront‑level commercial space
- Open commercial area suitable for varied configurations, including retail, office, studio, salon, café, or gallery uses
- Public parking directly across the street
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
$33,999
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
8.00%
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%
$679,980
$680.0K
Cap Rate 7%
$485,700
$485.7K
Cap Rate 9%
$377,767
$377.8K
Market Conditions
NOI Build-Up for 2,200 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
$65.2K $29.64/SF
− Vacancy
−$3.4K −$1.54/SF
EGI
$61.8K $28.10/SF
− OpEx
−$27.8K −$12.64/SF
NOI
$34.0K $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 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%
$679,980
Cap Rate 7%
$485,700
Cap Rate 9%
$377,767
Alternative Uses
Best Use
Apartment 5plus
$485.7K
$425.0K – $566.7K
NOI $33,999 @ 7.0% cap · market cap 8.00%
Second Best
Mixed Use
$390.3K
$341.6K – $455.4K
NOI $27,324 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$697.4K
$610.2K – $813.6K
NOI $48,817 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space is paired with two apartments above and public parking across the street.
Where is this mixed-use property located?
The property is located at 44 Alfred Street Biddeford, ME.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two apartments located above the storefront‑level commercial space; Open commercial area suitable for varied configurations, including retail, office, studio, salon, café, or gallery uses; Public parking directly across the street
