Historic Triplex with Two
New
For Sale
$364,900
28 Baker Street, Clinton, ME 04927
MULTI_FAMILY - Other - Clinton, ME
Property Size2,638 SF
Lot Size0.77 Acres
Price / SF$138.32
Days on Market3
Property Features for 28 Baker Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 2, Bathroom 1, Bathroom 3, Basement
Patio and Porch features
Porch
Basement
Unfinished
Lot features
Well Landscaped, Open, Corner Lot, Level, Intown, Near Turnpike/ Interstate, Neighborhood
Standard status
Active
Size
2,638 SF
Lot size
0.77 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2855
Utilities
Sewer type
Public Sewer
Heating system
Oil, Baseboard
Water source
Public
Building Details
Year built
1908
Number of units
3
Flooring type
Wood, Hardwood, Tile - Ceramic
Building materials
Wood Frame, Aluminum Siding, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Rizzo Mattson
(207) 622-9000
Listed By:
Richard Garland
(207) 622-9000
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 14 at 10:06PM
MLS# 1675928
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1908, this 2,638-square-foot triplex combines a three-bedroom primary residence with two one-bedroom apartments. The two smaller units are occupied, while the main residence offers a potential owner-occupant configuration. Interior details include hardwood and ceramic tile flooring, tin ceilings, and a custom kitchen, with period character complemented by updated windows and a heating system installed in 2017.
Set on 0.77 acres in Clinton, the property has two separate driveways, a porch, public water, public sewer, and a shingle roof. The location is 13 minutes from Colby, one mile from the turnpike, and 30 minutes from Augusta. Residential zoning and a spacious yard support the property's existing multifamily configuration.
Set on 0.77 acres in Clinton, the property has two separate driveways, a porch, public water, public sewer, and a shingle roof. The location is 13 minutes from Colby, one mile from the turnpike, and 30 minutes from Augusta. Residential zoning and a spacious yard support the property's existing multifamily configuration.
Key Highlights
- 2,638 square feet on 0.77 acres
- Triplex with one three‑bedroom unit and two one‑bedroom apartments
- Two one‑bedroom apartments are currently occupied
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
Lease Details
3
Residential units
Yes
Highway access
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-bedroom owner unit paired with two occupied one-bedroom apartments and separate access points.
Where is this triplex located?
The property is located at 28 Baker Street 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: 2,638 square feet on 0.77 acres; Triplex with one three‑bedroom unit and two one‑bedroom apartments; Two one‑bedroom apartments are currently occupied
