Duplex with Riverfront
New
For Sale
$1,200,000
22 Shore Rd, York, ME 03909
Two separate living areas include a main home and a two-bedroom, one-bath suite.
Property Size2,844 SF
Price / SF$421.94
Days on Market2
Property Features for 22 Shore Rd
General Information
Standard status
Active
Size
2,844 SF
Property subtype
Multi-Family
Building Details
Year Built
1780
Listing Agency:
Portside Real Estate Group
Listed By:
Cady Toussaint
(207) 604-2389
Source:
Samonasgroup
Added: Sep 26
Last Checked: Sep 26 at 3:21PM
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 Portside Real Estate Group
Investment Insights
Based on property information with market context.
This 2,844-square-foot duplex on 1.68 acres has two living spaces: a main residence and a separate two-bedroom, one-bath suite. The main home dates to 1780 and includes an attached two-car garage. The property also has a private dock and river frontage along the Cape Neddick River, with access to the Atlantic Ocean.
Located at 22 Shore Road in York, the property is minutes from Cape Neddick Beach, Short Sands, York Village, Ogunquit, restaurants, and shops. The secondary residence has been rented for years, providing a documented history of rental use.
Located at 22 Shore Road in York, the property is minutes from Cape Neddick Beach, Short Sands, York Village, Ogunquit, restaurants, and shops. The secondary residence has been rented for years, providing a documented history of rental use.
Key Highlights
- 1.68‑acre property on the Cape Neddick River with access to the Atlantic Ocean
- Private dock
- 2,844 square feet across two distinct living spaces
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
$48,144
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
4.01%
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%
$962,880
$962.9K
Cap Rate 7%
$687,771
$687.8K
Cap Rate 9%
$534,933
$534.9K
Market Conditions
NOI Build-Up for 2,844 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
$72.4K $25.44/SF
− Vacancy
−$3.6K −$1.26/SF
EGI
$68.8K $24.18/SF
− OpEx
−$20.6K −$7.25/SF
NOI
$48.1K $16.93/SF
Area
York County, ME
Vacancy
4.94%
Lease Rate
$25.44 /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%
$962,880
Cap Rate 7%
$687,771
Cap Rate 9%
$534,933
Alternative Uses
Best Use
Multifamily LT 5
$687.8K
$601.8K – $802.4K
NOI $48,144 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$627.9K
$549.4K – $732.5K
NOI $43,952 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$901.5K
$788.8K – $1.05M
NOI $63,107 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
Explore this area
Business Placement
Demographics for 03909, ME
10,938
Population
7,101
Households
1.5
Avg Household Size
53
Median Age
50%
College-Educated
98%
High-School Grad
35.2 sq mi
ZIP Area
311
Density / Sq Mi
$108,889
Median Household Income
$55,540
Median Earnings
$1,438
Median Rent
$589,400
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 - Two separate living areas include a main home and a two-bedroom, one-bath suite.
Where is this duplex located?
The property is located at 22 Shore Rd York, ME.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 1.68‑acre property on the Cape Neddick River with access to the Atlantic Ocean; Private dock; 2,844 square feet across two distinct living spaces
