Three-Unit Multifamily
For Sale
$400,000
Pending
2578 Hotel Road, Auburn, ME 04210
GB-zoned property with a spacious yard and convenient proximity to highway access in Auburn.
Property Size3,152 SF
Days on Market178
Property Features for 2578 Hotel Road
General Information
Standard status
Pending
Size
3,152 SF
Property subtype
Multi-Family
Zoning
GB
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,251
Amenities
Hot Water, Baseboard
2
Crawl Space, Exterior Only, Unfinished
Wood, Vinyl, Laminate, Carpet
No
Yes
Laundry - 1st Floor, Upper Level, Main Level
1st Floor Bedroom
Other, Slab
3.00
3
Pitched, Shingle
1
Vinyl Siding, Wood Frame
Building Details
Year Built
1920
Units
3
Listing Agency:
Portside Real Estate Group
(207) 751-0656
Listed By:
Elisabeth Cardali
(207) 751-0656
Source:
Compass
Added: Mar 6
Changed: Aug 30
Last Checked: Aug 30 at 7:10PM
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 Portside Real Estate Group
Investment Insights
Based on property information with market context.
This Auburn multifamily property includes three units within a 3152-square-foot building constructed in 1920. The residence sits on a large lot with a spacious yard, providing outdoor space for occupants. Interior details include hot-water baseboard heating, a crawl space, and a first-floor bedroom. Flooring includes wood, vinyl, laminate, and carpet, while laundry areas are located across multiple levels.
The property is located at 2578 Hotel Road in Auburn, Maine, with highway access just minutes away and local amenities nearby. GB zoning applies to the property.
The property is located at 2578 Hotel Road in Auburn, Maine, with highway access just minutes away and local amenities nearby. GB zoning applies to the property.
Key Highlights
- Three‑unit multifamily property
- 3152 square feet of building area
- Built in 1920
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
$31,088
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
7.77%
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%
$621,760
$621.8K
Cap Rate 7%
$444,114
$444.1K
Cap Rate 9%
$345,422
$345.4K
Market Conditions
NOI Build-Up for 3,152 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
$45.0K $14.28/SF
− Vacancy
−$599 −$0.19/SF
EGI
$44.4K $14.09/SF
− OpEx
−$13.3K −$4.23/SF
NOI
$31.1K $9.86/SF
Area
Androscoggin County, ME
Vacancy
1.33%
Lease Rate
$14.28 /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%
$621,760
Cap Rate 7%
$444,114
Cap Rate 9%
$345,422
Alternative Uses
Best Use
Multifamily LT 5
$444.1K
$388.6K – $518.1K
NOI $31,088 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$422.0K
$369.2K – $492.3K
NOI $29,537 @ 7.0% cap · market cap 7.38%
Theoretical Best
Warehouse
$5.60M
$4.90M – $6.53M
NOI $391,873 @ 7.0% cap · market cap 97.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
Explore this area
Business Placement
Demographics for 04210, ME
24,061
Population
11,113
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
59.3 sq mi
ZIP Area
406
Density / Sq Mi
$66,552
Median Household Income
$42,624
Median Earnings
$983
Median Rent
$254,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - GB-zoned property with a spacious yard and convenient proximity to highway access in Auburn.
Where is this triplex located?
The property is located at 2578 Hotel Road Auburn, ME.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Three‑unit multifamily property; 3152 square feet of building area; Built in 1920
