Building Details

Year Built 1970

Listed By: Kathy Gallant Show Phone

Source: Gre207

Added: Oct 1 Last Checked: Oct 5 at 5:52PM

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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 Kathy Gallant

Investment Insights

Based on property information with market context.

This 4,142-square-foot triplex was built in 1970 and is currently vacant during a rental turnover. The three units are being marketed for rent, and the property is offered as one offering despite consisting of two parcels.

The 3.91-acre site has approval for a private way serving a single-family dwelling. That approval is conditioned on converting the existing three-unit building to a single-family residence; any purchaser considering options should verify applicable details independently.

Key Highlights

• Three‑unit property with 4,142 square feet
• 3.91‑acre parcel approved for a private way serving a single‑family dwelling
• Private‑way approval requires conversion of the three‑unit building to a single‑family residence

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$73,195

Cap Rate

6.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,463,900 $1.5M

Cap Rate 7%

$1,045,643 $1.0M

Cap Rate 9%

$813,278 $813.3K

Market Conditions

NOI Build-Up for 4,142 SF

Gross rent

$111.8K $27.00/SF

− Vacancy

−$7.3K −$1.76/SF

EGI

$104.6K $25.25/SF

− OpEx

−$31.4K −$7.57/SF

NOI

$73.2K $17.67/SF

Area

Cumberland County, ME

Vacancy

6.50%

Lease Rate

$27.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,463,900

Cap Rate 7%

$1,045,643

Cap Rate 9%

$813,278

Alternative Uses

Best Use

Multifamily LT 5

$1.05M

$914.9K – $1.22M (±1% cap)

NOI $73,195 @ 7.0% cap · market cap 6.10%

Second Best

Apartment 5plus

$972.8K

$851.2K – $1.13M (±1% cap)

NOI $68,097 @ 7.0% cap · market cap 5.67%

Theoretical Best

Office A

$1.14M

$996.1K – $1.33M (±1% cap)

NOI $79,690 @ 7.0% cap · market cap 6.64%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Auto Parts Store Electrical Service Auto Repair Shop Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

140

Businesses Nearby

Explore this area Business Placement

Demographics for 04105, ME

12,406

Population

5,332

Households

2.3

Avg Household Size

48

Median Age

70%

College-Educated

98%

High-School Grad

29.3 sq mi

ZIP Area

423

Density / Sq Mi

$131,833

Median Household Income

$69,303

Median Earnings

$2,070

Median Rent

$669,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - The vacant three-unit property is being marketed for rental occupancy and can be viewed in its current condition.

Where is this triplex located?

The property is located at 25 Falmouth Rd Falmouth, ME.

What is the asking price?

The asking price for this property is $1,200,000.

What are key features of this property?

This property features: Three‑unit property with 4,142 square feet; 3.91‑acre parcel approved for a private way serving a single‑family dwelling; Private‑way approval requires conversion of the three‑unit building to a single‑family residence