Meticulously Maintained Freeport
For Sale
Contact for pricing
15 South Freeport Road, Freeport, ME 04032
Well-maintained 3,900+ SF quadplex with a 13.5% cap rate.
Property Size3,900 SF
Price / SF$306.41
Days on Market105
Property Features for 15 South Freeport Road
General Information
Standard status
Active
Size
3,900 SF
Class
A
Total Parking Spaces
10
Property subtype
Retail, Multifamily
Zoning
Multi
Occupancy
100%
Investment Type
Value Add
Building Details
Year Built
1950
Year Renovated
2026
Buildings
1
Stories
2
Units
10
Tenancy
Multi
Listing Agency:
Remax Shoreline Commercial
(603) 969-6216
Listed By:
Andy Yau · License #NH 074320
Source:
Crexi
Added: May 19
Changed: Aug 25
Last Checked: Aug 29 at 7:24PM
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 Remax Shoreline Commercial
Investment Insights
Based on property information with market context.
This is a meticulously maintained quadplex property with a size of over 3,900 square feet. The property is being offered for sale and has a cap rate of 13.5%.
Key Highlights
- 13.5% Cap Rate
- Meticulously Maintained
- 3,900+ SF Quadplex
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
$68,919
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
5.77%
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%
$1,378,380
$1.4M
Cap Rate 7%
$984,557
$984.6K
Cap Rate 9%
$765,767
$765.8K
Market Conditions
NOI Build-Up for 3,900 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
$105.3K $27.00/SF
− Vacancy
−$6.8K −$1.76/SF
EGI
$98.5K $25.25/SF
− OpEx
−$29.5K −$7.57/SF
NOI
$68.9K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /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%
$1,378,380
Cap Rate 7%
$984,557
Cap Rate 9%
$765,767
Alternative Uses
Best Use
Multifamily LT 5
$984.6K
$861.5K – $1.15M
NOI $68,919 @ 7.0% cap · market cap 5.77%
Second Best
Apartment 5plus
$916.0K
$801.5K – $1.07M
NOI $64,118 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$1.07M
$937.9K – $1.25M
NOI $75,034 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Explore this area
Business Placement
Demographics for 04032, ME
8,737
Population
4,133
Households
2.1
Avg Household Size
47
Median Age
57%
College-Educated
94%
High-School Grad
34.7 sq mi
ZIP Area
252
Density / Sq Mi
$108,864
Median Household Income
$48,222
Median Earnings
$1,436
Median Rent
$445,800
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?
Quadplex - Well-maintained 3,900+ SF quadplex with a 13.5% cap rate.
Where is this quadplex located?
The property is located at 15 South Freeport Road Freeport, ME.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 13.5% Cap Rate; Meticulously Maintained; 3,900+ SF Quadplex
