Mixed-Use Property with Heated
For Sale
$2,295,000
276 Hill St, Biddeford, ME 04005
Two-building compound combines residential units, warehouse space, and paved parking in Biddeford, Maine.
Property Size11,374 SF
Price / SF$201.78
Days on Market87
Property Features for 276 Hill St
General Information
Standard status
Active
Size
11,374 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
8
Building Details
Year Built
1970
Buildings
2
Listing Agency:
Spectrum Real Estate
Listed By:
Fred Andrews
(207) 233-6699
Source:
Samonasgroup
Added: Jul 21
Changed: Oct 10
Last Checked: Oct 7 at 1:09PM
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 Spectrum Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property at 276 Hill St in Biddeford, Maine, includes two buildings totaling 11374 SF. The residential component offers eight units, including an updated owner's suite with a fireplace. A heated warehouse adds substantial commercial functionality, with four oversized overhead bay doors suited to storage, workshop, or business operations. The property also features paved parking and professional landscaping.
Built in 1970, the compound combines residential occupancy with dedicated warehouse space in a single holding. Recent upgrades and a documented rental history are also noted, providing additional operating context for prospective buyers. The configuration supports live-work use, owner occupancy, or continued rental operations, subject to applicable requirements.
Built in 1970, the compound combines residential occupancy with dedicated warehouse space in a single holding. Recent upgrades and a documented rental history are also noted, providing additional operating context for prospective buyers. The configuration supports live-work use, owner occupancy, or continued rental operations, subject to applicable requirements.
Key Highlights
- 11,374 SF mixed‑use property in two buildings
- 8 residential units, including an updated owner's suite with a fireplace
- Heated warehouse with 4 oversized overhead bay doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$186,306
Cap Rate
8.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,726,120
$3.7M
Cap Rate 7%
$2,661,514
$2.7M
Cap Rate 9%
$2,070,067
$2.1M
Market Conditions
NOI Build-Up for 11,374 SF
Gross rent
$283.9K $24.96/SF
− Vacancy
−$35.5K −$3.12/SF
EGI
$248.4K $21.84/SF
− OpEx
−$62.1K −$5.46/SF
NOI
$186.3K $16.38/SF
Area
York County, ME
Vacancy
12.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,726,120
Cap Rate 7%
$2,661,514
Cap Rate 9%
$2,070,067
Alternative Uses
Best Use
Office B
$2.66M
$2.33M – $3.11M
NOI $186,306 @ 7.0% cap · market cap 8.12%
Second Best
Apartment 5plus
$2.51M
$2.20M – $2.93M
NOI $175,777 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$3.61M
$3.15M – $4.21M
NOI $252,385 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
310
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building compound combines residential units, warehouse space, and paved parking in Biddeford, Maine.
Where is this mixed-use property located?
The property is located at 276 Hill St Biddeford, ME.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: 11,374 SF mixed‑use property in two buildings; 8 residential units, including an updated owner's suite with a fireplace; Heated warehouse with 4 oversized overhead bay doors
