Restored Triplex with Period
For Sale
$299,000
28 Baker St, Clinton, ME 04927
Three residences share separate driveways, updated windows, period details, and a large yard with two apartments currently occupied.
Property Size2,638 SF
Price / SF$113.34
Days on Market63
Property Features for 28 Baker St
General Information
Standard status
Active
Size
2,638 SF
Property subtype
Multi-Family
Building Details
Year Built
1908
Listed By:
Pouliot Real Estate
(207) 248-6044
Source:
Pouliotrealestate
Added: Aug 14
Changed: Oct 15
Last Checked: Oct 14 at 10:51PM
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 Pouliot Real Estate
Investment Insights
Based on property information with market context.
Built in 1908, this triplex combines a three-bedroom primary residence with two separate one-bedroom apartments. The building retains distinctive period details, including hardwood flooring and tin ceilings, while a custom kitchen adds a more recent functional update. Brand-new windows serve the main residence, and several tenant-unit windows have also been replaced. The heating system was installed in 2017.
Two separate driveways provide distinct access for the residences, and the property includes an expansive yard. Both one-bedroom apartments are currently occupied by long-term tenants. The property is 1 mile from the turnpike, 13 minutes from Colby, and 30 minutes from Augusta.
Two separate driveways provide distinct access for the residences, and the property includes an expansive yard. Both one-bedroom apartments are currently occupied by long-term tenants. The property is 1 mile from the turnpike, 13 minutes from Colby, and 30 minutes from Augusta.
Key Highlights
- Triplex with one three‑bedroom residence and two separate one‑bedroom apartments
- Two one‑bedroom apartments are occupied by long‑term tenants
- Distinctive hardwood floors and tin ceilings retain period character
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,698
Cap Rate
8.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$513,960
$514.0K
Cap Rate 7%
$367,114
$367.1K
Cap Rate 9%
$285,533
$285.5K
Market Conditions
NOI Build-Up for 2,638 SF
Gross rent
$47.5K $18.00/SF
− Vacancy
−$760 −$0.29/SF
EGI
$46.7K $17.71/SF
− OpEx
−$21.0K −$7.97/SF
NOI
$25.7K $9.74/SF
Area
Kennebec County, ME
Vacancy
1.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$513,960
Cap Rate 7%
$367,114
Cap Rate 9%
$285,533
Alternative Uses
Best Use
Multifamily LT 5
$420.9K
$368.3K – $491.0K
NOI $29,460 @ 7.0% cap · market cap 9.85%
Second Best
Apartment 5plus
$367.1K
$321.2K – $428.3K
NOI $25,698 @ 7.0% cap · market cap 8.59%
Theoretical Best
Warehouse
$3.94M
$3.44M – $4.59M
NOI $275,495 @ 7.0% cap · market cap 92.14%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
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Business Placement
Demographics for 04927, ME
3,370
Population
1,528
Households
2.2
Avg Household Size
44
Median Age
19%
College-Educated
95%
High-School Grad
43.9 sq mi
ZIP Area
77
Density / Sq Mi
$74,544
Median Household Income
$38,289
Median Earnings
$1,122
Median Rent
$172,100
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 - Three residences share separate driveways, updated windows, period details, and a large yard with two apartments currently occupied.
Where is this triplex located?
The property is located at 28 Baker St Clinton, ME.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Triplex with one three‑bedroom residence and two separate one‑bedroom apartments; Two one‑bedroom apartments are occupied by long‑term tenants; Distinctive hardwood floors and tin ceilings retain period character
