Lakeside Multifamily
333 Smithfield Road, Belgrade, ME 04917
For Sale
$975,000
Four buildings include year-round residences and seasonal cottages along Salmon Lake.
Property Size3,878 SF
Lot Size6.01 Acres
Price / SF$251.42
Days on Market706
Property Features for 333 Smithfield Road
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
docks
boathouse
Building Details
Building Size
Buildings
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Kevin Fletcher · License ME BA903663
(207) 754-9311
Source:
Integrityhomesrealestategroup
Added: Dec 6, 2024
Changed: Nov 11
Last Checked: Nov 11 at 2:17AM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
Four buildings occupy this Belgrade property: a year-round one-bedroom, one-bath cottage, a three-bedroom, two-bath mobile home, and two seasonal cottages. The first two residences are occupied. The seasonal cottages have previously operated as Airbnb rentals. Combined building area is 3,878 square feet, and the property is zoned Shoreland.
The 6.01-acre parcel has 800 feet of frontage on Salmon Lake, with multiple docks and a historic boathouse. Parking accommodates 5–10 vehicles.
The 6.01-acre parcel has 800 feet of frontage on Salmon Lake, with multiple docks and a historic boathouse. Parking accommodates 5–10 vehicles.
Key Highlights
- Four buildings across 6.01 acres
- 3,878 square feet of building area
- 800 feet of Salmon Lake frontage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,778
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$755,560
$755.6K
Cap Rate 7%
$539,686
$539.7K
Cap Rate 9%
$419,756
$419.8K
Market Conditions
NOI Build-Up for 3,878 SF
Gross rent
$69.8K $18.00/SF
− Vacancy
−$1.1K −$0.29/SF
EGI
$68.7K $17.71/SF
− OpEx
−$30.9K −$7.97/SF
NOI
$37.8K $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%
$755,560
Cap Rate 7%
$539,686
Cap Rate 9%
$419,756
Alternative Uses
Best Use
Apartment 5plus
$539.7K
$472.2K – $629.6K
NOI $37,778 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$964.4K – $1.29M
NOI $77,153 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
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Business Placement
Demographics for 04917, ME
3,259
Population
2,261
Households
1.4
Avg Household Size
49
Median Age
46%
College-Educated
98%
High-School Grad
42.7 sq mi
ZIP Area
76
Density / Sq Mi
$86,021
Median Household Income
$41,846
Median Earnings
$868
Median Rent
$304,600
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Kennebec County, ME
Properties on Market for Multifamily properties in Kennebec County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Four buildings include year-round residences and seasonal cottages along Salmon Lake.
Where is this multifamily property located?
The property is located at 333 Smithfield Road Belgrade, ME.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Four buildings across 6.01 acres; 3,878 square feet of building area; 800 feet of Salmon Lake frontage
