Three-Unit Residential
For Sale
$350,000
18 Franklin Street, Augusta, ME 04330
Three-unit residential property with a two-bedroom and one-bedroom unit mix in Augusta.
Property Size2,452 SF
Price / SF$142.74
Days on Market23
Property Features for 18 Franklin Street
General Information
Standard status
Active
Size
2,452 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 2BR, 1 x 1BR
Multifamily Units
3
Building Details
Year Built
1880
Listing Agency:
Keller Williams Realty
Listed By:
Francois Rodrigue
(603) 866-2942
Source:
Profoundrealestate
Added: Sep 5
Changed: Sep 26
Last Checked: Sep 26 at 8:35AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This three-unit residential property contains 2,452 square feet and was built in 1880. The configuration includes two 2-bedroom units and one 1-bedroom unit, providing a defined mix of residential accommodations within the building.
Located at 18 Franklin St in Augusta, Maine, the property is near local amenities. The 1-bedroom unit may offer the potential for conversion to a 2-bedroom layout, subject to town approval.
Located at 18 Franklin St in Augusta, Maine, the property is near local amenities. The 1-bedroom unit may offer the potential for conversion to a 2-bedroom layout, subject to town approval.
Key Highlights
- Three‑unit residential property at 18 Franklin St, Augusta, ME 04330
- 2,452‑square‑foot property built in 1880
- Two 2‑bedroom units and one 1‑bedroom unit
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
$27,383
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
7.82%
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%
$547,660
$547.7K
Cap Rate 7%
$391,186
$391.2K
Cap Rate 9%
$304,256
$304.3K
Market Conditions
NOI Build-Up for 2,452 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
$39.7K $16.20/SF
− Vacancy
−$604 −$0.25/SF
EGI
$39.1K $15.95/SF
− OpEx
−$11.7K −$4.79/SF
NOI
$27.4K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /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%
$547,660
Cap Rate 7%
$391,186
Cap Rate 9%
$304,256
Alternative Uses
Best Use
Multifamily LT 5
$391.2K
$342.3K – $456.4K
NOI $27,383 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$341.2K
$298.6K – $398.1K
NOI $23,886 @ 7.0% cap · market cap 6.82%
Theoretical Best
Warehouse
$3.66M
$3.20M – $4.27M
NOI $256,070 @ 7.0% cap · market cap 73.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Explore this area
Business Placement
Demographics for 04330, ME
26,322
Population
13,017
Households
2
Avg Household Size
44
Median Age
28%
College-Educated
95%
High-School Grad
116.9 sq mi
ZIP Area
225
Density / Sq Mi
$55,158
Median Household Income
$43,177
Median Earnings
$912
Median Rent
$197,600
Median Home Value
Check the figures for this property
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?
Triplex - Three-unit residential property with a two-bedroom and one-bedroom unit mix in Augusta.
Where is this triplex located?
The property is located at 18 Franklin Street Augusta, ME.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Three‑unit residential property at 18 Franklin St, Augusta, ME 04330; 2,452‑square‑foot property built in 1880; Two 2‑bedroom units and one 1‑bedroom unit
