6-Unit Apartment
175 Alfred Street, Biddeford, ME 04005
For Sale
$895,000
Building improvements include a metal roof, replacement windows, and an updated furnace.
Property Size5,060 SF
Price / SF$176.88
Days on Market190
Property Features for 175 Alfred Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Town & Shore Real Estate
(207) 773-0262
Listed By:
Jeffrey Davis · License ME #901562
(207) 233-9423
Source:
Integrityhomesrealestategroup
Added: May 6
Changed: Nov 11
Last Checked: Nov 11 at 2:03AM
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 Town & Shore Real Estate
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Investment Insights
Based on property information with market context.
Built in 1910, this 5,060-square-foot apartment building contains six units and sits on a corner lot at 175 Alfred Street in Biddeford. Improvements include a metal roof, replacement windows, a furnace, and updated flooring and finishes. Lead abatement was completed in all living spaces.
The property has five parking spaces and is zoned R2. The third floor is identified as an area with expansion potential; a four-unit configuration is also noted as a possible conversion.
The property has five parking spaces and is zoned R2. The third floor is identified as an area with expansion potential; a four-unit configuration is also noted as a possible conversion.
Key Highlights
- Six‑unit apartment building with 5,060 square feet
- R2 zoning
- Metal roof, replacement windows, furnace, and flooring updates
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,199
Cap Rate
8.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,563,980
$1.6M
Cap Rate 7%
$1,117,129
$1.1M
Cap Rate 9%
$868,878
$868.9K
Market Conditions
NOI Build-Up for 5,060 SF
Gross rent
$150.0K $29.64/SF
− Vacancy
−$7.8K −$1.54/SF
EGI
$142.2K $28.10/SF
− OpEx
−$64.0K −$12.64/SF
NOI
$78.2K $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 Rate 5%
$1,563,980
Cap Rate 7%
$1,117,129
Cap Rate 9%
$868,878
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$977.5K – $1.30M
NOI $78,199 @ 7.0% cap · market cap 8.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,280 @ 7.0% cap · market cap 12.55%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,174
Businesses Nearby
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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
$351,700
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Biddeford, ME
Properties on Market for Apartment buildings in Biddeford
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Building improvements include a metal roof, replacement windows, and an updated furnace.
Where is this apartment building located?
The property is located at 175 Alfred Street Biddeford, ME.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Six‑unit apartment building with 5,060 square feet; R2 zoning; Metal roof, replacement windows, furnace, and flooring updates
