Mixed-Use Property with Heated
For Sale
$2,295,000
276 Hill St, Biddeford, ME 04005
Two-building compound combines residential units, warehouse space, and paved parking in Biddeford, Maine.
Property Size11,374 SF
Price / SF$201.78
Days on Market42
Property Features for 276 Hill St
General Information
Standard status
Active
Size
11,374 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
8
Building Details
Year Built
1970
Buildings
2
Listing Agency:
Spectrum Real Estate
(207) 233-6699
Listed By:
Fred Andrews
Source:
Samonasgroup
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 30 at 6:58PM
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 Spectrum Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property at 276 Hill St in Biddeford, Maine, includes two buildings totaling 11374 SF. The residential component offers eight units, including an updated owner's suite with a fireplace. A heated warehouse adds substantial commercial functionality, with four oversized overhead bay doors suited to storage, workshop, or business operations. The property also features paved parking and professional landscaping.
Built in 1970, the compound combines residential occupancy with dedicated warehouse space in a single holding. Recent upgrades and a documented rental history are also noted, providing additional operating context for prospective buyers. The configuration supports live-work use, owner occupancy, or continued rental operations, subject to applicable requirements.
Built in 1970, the compound combines residential occupancy with dedicated warehouse space in a single holding. Recent upgrades and a documented rental history are also noted, providing additional operating context for prospective buyers. The configuration supports live-work use, owner occupancy, or continued rental operations, subject to applicable requirements.
Key Highlights
- 11,374 SF mixed‑use property in two buildings
- 8 residential units, including an updated owner's suite with a fireplace
- Heated warehouse with 4 oversized overhead bay doors
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
$186,306
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
8.12%
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%
$3,726,120
$3.7M
Cap Rate 7%
$2,661,514
$2.7M
Cap Rate 9%
$2,070,067
$2.1M
Market Conditions
NOI Build-Up for 11,374 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
$283.9K $24.96/SF
− Vacancy
−$35.5K −$3.12/SF
EGI
$248.4K $21.84/SF
− OpEx
−$62.1K −$5.46/SF
NOI
$186.3K $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 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%
$3,726,120
Cap Rate 7%
$2,661,514
Cap Rate 9%
$2,070,067
Alternative Uses
Best Use
Office B
$2.66M
$2.33M – $3.11M
NOI $186,306 @ 7.0% cap · market cap 8.12%
Second Best
Apartment 5plus
$2.51M
$2.20M – $2.93M
NOI $175,777 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$3.61M
$3.15M – $4.21M
NOI $252,385 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
310
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building compound combines residential units, warehouse space, and paved parking in Biddeford, Maine.
Where is this mixed-use property located?
The property is located at 276 Hill St Biddeford, ME.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: 11,374 SF mixed‑use property in two buildings; 8 residential units, including an updated owner's suite with a fireplace; Heated warehouse with 4 oversized overhead bay doors
