6-Unit Apartment
329 Main Street, Biddeford, ME 04005
For Sale
$1,100,000
The property is zoned MSRD2 and offers a six-unit residential configuration in downtown Biddeford.
Property Size5,043 SF
Price / SF$218.12
Days on Market202
Property Features for 329 Main Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Public Transit
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Units
Tenancy
Listing Agency:
Realty Sales Inc
(207) 252-7474
Listed By:
David Trottier
(207) 985-4000
Source:
Integrityhomesrealestategroup
Added: Apr 24
Changed: Nov 11
Last Checked: Nov 11 at 2:24AM
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 Realty Sales Inc
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Investment Insights
Based on property information with market context.
Built in 1900, this 5,043-square-foot apartment property contains six units and is located at 329 Main Street in Biddeford. The property is zoned MSRD2, and most residents are tenants at will.
Downtown cafes, shops, restaurants, the Riverwalk, and Amtrak are within walking distance. The building’s location places these destinations within reach on foot.
Downtown cafes, shops, restaurants, the Riverwalk, and Amtrak are within walking distance. The building’s location places these destinations within reach on foot.
Key Highlights
- Six apartments in a 5,043‑square‑foot building
- Built in 1900
- MSRD2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,936
Cap Rate
7.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,558,720
$1.6M
Cap Rate 7%
$1,113,371
$1.1M
Cap Rate 9%
$865,956
$866.0K
Market Conditions
NOI Build-Up for 5,043 SF
Gross rent
$149.5K $29.64/SF
− Vacancy
−$7.8K −$1.54/SF
EGI
$141.7K $28.10/SF
− OpEx
−$63.8K −$12.64/SF
NOI
$77.9K $15.45/SF
Area
York County, ME
Vacancy
5.20%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,558,720
Cap Rate 7%
$1,113,371
Cap Rate 9%
$865,956
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$974.2K – $1.30M
NOI $77,936 @ 7.0% cap · market cap 7.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $111,902 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,154
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
$351,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Biddeford, ME
Properties on Market for Apartment buildings in Biddeford
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - The property is zoned MSRD2 and offers a six-unit residential configuration in downtown Biddeford.
Where is this apartment building located?
The property is located at 329 Main Street Biddeford, ME.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Six apartments in a 5,043‑square‑foot building; Built in 1900; MSRD2 zoning
