Updated Four-Unit
New
For Sale
$459,900
17 Elm Street, Brewer, ME 04412
Refreshed interiors, shared laundry, and off-street parking serve a four-residence property near Brewer and Bangor amenities.
Property Size3,056 SF
Price / SF$150.49
Days on Market5
Property Features for 17 Elm Street
General Information
Standard status
Active
Size
3,056 SF
Property subtype
Multi-family
Lease Term
[]
Units
Unit Mix
4 x 2BR
Multifamily Units
4
Amenities
shared washer and dryer
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Realty of Maine
Listed By:
Kortnie Mullins
(207) 680-3667
Source:
Portsiderealestategroup
Added: Sep 14
Changed: Sep 17
Last Checked: Sep 17 at 2:29AM
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 Realty of Maine
Investment Insights
Based on property information with market context.
Located at 17 Elm Street in Brewer, this 3,056-square-foot quadplex contains four two-bedroom residences within a building constructed in 1900. Each unit includes a kitchen, living area, and bathroom, with new flooring, fresh paint, and updated bathroom fixtures adding consistency across the property. One residence is vacant, while the remaining units support an owner-occupant or rental configuration.
The property includes a shared washer and dryer, an efficient newer boiler, and a brand-new roof. Two driveways provide off-street parking, and the location offers access to amenities in Brewer and Bangor. The four-unit layout and common improvements create a straightforward multifamily asset with a range of occupancy options.
The property includes a shared washer and dryer, an efficient newer boiler, and a brand-new roof. Two driveways provide off-street parking, and the location offers access to amenities in Brewer and Bangor. The four-unit layout and common improvements create a straightforward multifamily asset with a range of occupancy options.
Key Highlights
- Four‑unit quadplex with 3,056 square feet
- All 4 residences offer 2 bedrooms
- One unit is currently vacant
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
$28,007
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
6.09%
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%
$560,140
$560.1K
Cap Rate 7%
$400,100
$400.1K
Cap Rate 9%
$311,189
$311.2K
Market Conditions
NOI Build-Up for 3,056 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
$42.2K $13.80/SF
− Vacancy
−$2.2K −$0.71/SF
EGI
$40.0K $13.09/SF
− OpEx
−$12.0K −$3.93/SF
NOI
$28.0K $9.16/SF
Area
Penobscot County, ME
Vacancy
5.13%
Lease Rate
$13.80 /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%
$560,140
Cap Rate 7%
$400,100
Cap Rate 9%
$311,189
Alternative Uses
Best Use
Multifamily LT 5
$400.1K
$350.1K – $466.8K
NOI $28,007 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$368.0K
$322.0K – $429.3K
NOI $25,759 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$987.0K
$863.6K – $1.15M
NOI $69,090 @ 7.0% cap · market cap 15.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Explore this area
Business Placement
Demographics for 04412, ME
9,672
Population
4,565
Households
2.1
Avg Household Size
43
Median Age
31%
College-Educated
95%
High-School Grad
15.2 sq mi
ZIP Area
636
Density / Sq Mi
$51,490
Median Household Income
$35,700
Median Earnings
$984
Median Rent
$218,100
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?
Quadplex - Refreshed interiors, shared laundry, and off-street parking serve a four-residence property near Brewer and Bangor amenities.
Where is this quadplex located?
The property is located at 17 Elm Street Brewer, ME.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: Four‑unit quadplex with 3,056 square feet; All 4 residences offer 2 bedrooms; One unit is currently vacant
