Mixed-Use Building with
311 Main Street Biddeford, ME 04005
311 Main Street, Biddeford, ME, 04005
$1,300,000
For Sale
$1,300,000
Street-level commercial space fronts Main Street with three renovated market-rate apartments above.
Property Size6,090 SF
Price / SF$213.46
Days on Market10
Property Features for 311 Main Street
General Information
- Standard status
- Active
- Size
- 6,090 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing Agency
The Dunham Group
Listed by
Bryan Plourde
(603) 433-3350
Source
Greatislandrealty
Added: Jul 9 Checked: Jul 18 at 3:35 am
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 The Dunham Group
Investment Insights
Based on property information with market context.
Historic Hannaway Building offers a street-level commercial space with exceptional visibility and three market-rate residential apartments above. The first floor is suited for retail, office, or service use and sits within the MSRD1 (Main Street Revitalization District 1) zoning district. An existing commercial tenant currently occupies the space.
The second floor features three renovated two-bedroom, one-bath apartments. Each unit includes in-unit laundry, and the residential units have benefited from recent improvements.
Recent capital improvements include a newer EPDM rubber roof, heat pumps, updated flooring, renovations to the commercial space, and improvements throughout the residential apartments.
The second floor features three renovated two-bedroom, one-bath apartments. Each unit includes in-unit laundry, and the residential units have benefited from recent improvements.
Recent capital improvements include a newer EPDM rubber roof, heat pumps, updated flooring, renovations to the commercial space, and improvements throughout the residential apartments.
Key Highlights
- Historic Hannaway Building built in 1900 with street‑level commercial plus three residential apartments above
- First‑floor commercial space fronts Main Street and is within MSRD1 (Main Street Revitalization District 1) zoning
- MSRD1 zoning permits downtown‑oriented uses including retail, restaurant, office, medical office, and personal service
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $154.9k | $25.44 |
| − Vacancy | −$7.7k | −$1.26 |
| EGI | $147.3k | $24.18 |
| − OpEx | −$44.2k | −$7.25 |
| NOI | $103.1k | $16.93 |
6,090 SF · lease $25.44/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.47M
$1.29M – $1.72M
NOI $103,093 @ 7.0% cap · market cap 7.93%
Second Best
Apartment 5plus
$1.34M
$1.18M – $1.57M
NOI $94,117 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,135 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Street-level commercial space fronts Main Street with three renovated market-rate apartments above.
Where is this triplex located?
The property is located at 311 Main Street Biddeford, ME.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Historic Hannaway Building built in 1900 with street‑level commercial plus three residential apartments above; First‑floor commercial space fronts Main Street and is within MSRD1 (Main Street Revitalization District 1) zoning; MSRD1 zoning permits downtown‑oriented uses including retail, restaurant, office, medical office, and personal service
