Updated Triplex Near
For Sale
$749,000
25 Evergreen Avenue, Old Orchard Beach, ME 04064
Multi-Family, Old Orchard Beach, ME
Property Size2,902 SF
Lot Size0.09 Acres
Price / SF$258.10
Days on Market65
Property Features for 25 Evergreen Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 3, Bathroom 2, Basement, Bathroom 1
Patio and Porch features
Porch
Interior features
Attic, Shower, Storage
Basement
Full, Walk-Out Access, Unfinished
Lot features
Level, Sidewalks, Intown, Near Public Beach, Near Shopping, Neighborhood
Standard status
Active
Size
2,902 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6380
Utilities
Sewer type
Public Sewer
Heating system
Propane (Heating), Oil, Hot Water(Heating)
Water source
Public
Amenities
decks
Building Details
Year built
1908
Floors in Building
2
Number of units
3
Flooring type
Linoleum, Plank, Carpet, Vinyl, Softwood, Tile
Building materials
Wood Frame, Vinyl Siding
Roof type
Rolled Hot Mop, Shingle
Architectural style
Colonial
Additional Structures
Storage
Listing Agency:
Vitalius Real Estate Group, LLC
(207) 541-3755
Listed By:
Carrie Logan
(207) 615-7054
Added: Jul 15
Changed: Sep 13
Last Checked: Sep 17 at 9:06PM
MLS# 1671099
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Colonial triplex contains 2,902 square feet on a 0.09-acre lot and includes a vacant three-bedroom, two-bath main residence scheduled for August 1, along with two additional rental units. The property offers multiple decks, off-street parking, attic and basement storage, and a wood-frame exterior with vinyl siding. Public water and public sewer serve the property, which is zoned R-2.
Located at 25 Evergreen Avenue in Old Orchard Beach, the property is a seven-minute walk from the beach. Recent work includes 56 replacement windows, updated siding, roof and water heaters, upgraded attic and basement insulation, a sealcoated driveway, and a rebuilt back deck. A Buderus boiler and oil tank are also in place, providing a documented mechanical improvement package for the next owner.
Located at 25 Evergreen Avenue in Old Orchard Beach, the property is a seven-minute walk from the beach. Recent work includes 56 replacement windows, updated siding, roof and water heaters, upgraded attic and basement insulation, a sealcoated driveway, and a rebuilt back deck. A Buderus boiler and oil tank are also in place, providing a documented mechanical improvement package for the next owner.
Key Highlights
- Three‑unit Colonial property at 25 Evergreen Avenue, Old Orchard Beach, ME 04064
- 2,902 square feet on a 0.09‑acre lot
- Seven‑minute walk to the beach
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
$49,126
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
6.56%
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%
$982,520
$982.5K
Cap Rate 7%
$701,800
$701.8K
Cap Rate 9%
$545,844
$545.8K
Market Conditions
NOI Build-Up for 2,902 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
$73.8K $25.44/SF
− Vacancy
−$3.6K −$1.26/SF
EGI
$70.2K $24.18/SF
− OpEx
−$21.1K −$7.25/SF
NOI
$49.1K $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 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%
$982,520
Cap Rate 7%
$701,800
Cap Rate 9%
$545,844
Alternative Uses
Best Use
Multifamily LT 5
$701.8K
$614.1K – $818.8K
NOI $49,126 @ 7.0% cap · market cap 6.56%
Second Best
Apartment 5plus
$640.7K
$560.6K – $747.5K
NOI $44,848 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$919.9K
$804.9K – $1.07M
NOI $64,394 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
446
Businesses Nearby
Explore this area
Business Placement
Demographics for 04064, ME
8,452
Population
6,783
Households
1.2
Avg Household Size
53
Median Age
40%
College-Educated
96%
High-School Grad
6.7 sq mi
ZIP Area
1,261
Density / Sq Mi
$66,689
Median Household Income
$42,532
Median Earnings
$1,142
Median Rent
$312,700
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?
Triplex - Colonial triplex with three rental units, off-street parking, decks, and public water and sewer.
Where is this triplex located?
The property is located at 25 Evergreen Avenue Old Orchard Beach, 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‑unit Colonial property at 25 Evergreen Avenue, Old Orchard Beach, ME 04064; 2,902 square feet on a 0.09‑acre lot; Seven‑minute walk to the beach
