Restored Triplex with Period
For Sale
$364,900
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$138.32
Days on Market18
Property Features for 28 Baker St
General Information
Standard status
Active
Size
2,638 SF
Property subtype
Multi-Family
Building Details
Year Built
1908
Listing Agency:
(207) 248-6044
Listed By:
Pouliot Real Estate
(207) 248-6044
Source:
Pouliotrealestate
Added: Aug 14
Changed: Aug 29
Last Checked: Aug 30 at 4:25PM
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 = 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
$29,460
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
8.07%
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%
$589,200
$589.2K
Cap Rate 7%
$420,857
$420.9K
Cap Rate 9%
$327,333
$327.3K
Market Conditions
NOI Build-Up for 2,638 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
$42.7K $16.20/SF
− Vacancy
−$650 −$0.25/SF
EGI
$42.1K $15.95/SF
− OpEx
−$12.6K −$4.79/SF
NOI
$29.5K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /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%
$589,200
Cap Rate 7%
$420,857
Cap Rate 9%
$327,333
Alternative Uses
Best Use
Multifamily LT 5
$420.9K
$368.3K – $491.0K
NOI $29,460 @ 7.0% cap · market cap 8.07%
Second Best
Apartment 5plus
$367.1K
$321.2K – $428.3K
NOI $25,698 @ 7.0% cap · market cap 7.04%
Theoretical Best
Warehouse
$3.94M
$3.44M – $4.59M
NOI $275,495 @ 7.0% cap · market cap 75.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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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 $364,900.
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
