3-Unit Triplex with Updated
23 Granite St, Biddeford, ME 04005
For Sale
$749,000
The occupied property includes off-street parking, side yards, and an updated heating system.
Property Size3,079 SF
Price / SF$243.26
Days on Market9
Property Features for 23 Granite St
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Year Built
Listed By:
Doug Schauf · License #BA917314
(207) 838-5593
Source:
Makemaineyourhome
Added: Nov 1
Changed: Nov 3
Last Checked: Nov 8 at 6:24AM
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 Doug Schauf
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Investment Insights
Based on property information with market context.
This 3,079-square-foot triplex, built in 1900, contains two three-bedroom apartments and one two-bedroom apartment. All three units are rented. The property has an updated heating system, a newer roof, off-street parking, and side yards.
Located at 23 Granite St in Biddeford, Maine, the building has an established rental history.
Located at 23 Granite St in Biddeford, Maine, the building has an established rental history.
Key Highlights
- Three rented apartments: two three‑bedroom units and one two‑bedroom unit
- 3,079 square feet across three units
- Updated heating system and newer roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,122
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,042,440
$1.0M
Cap Rate 7%
$744,600
$744.6K
Cap Rate 9%
$579,133
$579.1K
Market Conditions
NOI Build-Up for 3,079 SF
Gross rent
$78.3K $25.44/SF
− Vacancy
−$3.9K −$1.26/SF
EGI
$74.5K $24.18/SF
− OpEx
−$22.3K −$7.25/SF
NOI
$52.1K $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 Rate 5%
$1,042,440
Cap Rate 7%
$744,600
Cap Rate 9%
$579,133
Alternative Uses
Best Use
Multifamily LT 5
$744.6K
$651.5K – $868.7K
NOI $52,122 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$679.8K
$594.8K – $793.1K
NOI $47,584 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$976.0K
$854.0K – $1.14M
NOI $68,322 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
841
Businesses Nearby
Explore this area
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 Triplexes in York County, ME
Properties on Market for Triplexes in York County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The occupied property includes off-street parking, side yards, and an updated heating system.
Where is this triplex located?
The property is located at 23 Granite St Biddeford, ME.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Three rented apartments: two three‑bedroom units and one two‑bedroom unit; 3,079 square feet across three units; Updated heating system and newer roof
