10-Unit Apartment
344 Main Street, Biddeford, ME 04005
For Sale
$1,525,000
Ten apartments are served by solid mechanical systems in a downtown property.
Property Size6,566 SF
Price / SF$232.26
Days on Market202
Property Features for 344 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
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 10 at 7:08PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 10-unit apartment property at 344 Main Street contains 6,566 square feet and dates to 1900. Solid mechanical systems are a noted feature of the building, which is zoned MSRD2.
The property is in downtown Biddeford, within walking distance of cafes, shops, restaurants, the Riverwalk, and Amtrak.
The property is in downtown Biddeford, within walking distance of cafes, shops, restaurants, the Riverwalk, and Amtrak.
Key Highlights
- 10 apartments in a 6,566‑square‑foot building
- Built in 1900 and zoned MSRD2
- Solid mechanical systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,473
Cap Rate
6.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,029,460
$2.0M
Cap Rate 7%
$1,449,614
$1.4M
Cap Rate 9%
$1,127,478
$1.1M
Market Conditions
NOI Build-Up for 6,566 SF
Gross rent
$194.6K $29.64/SF
− Vacancy
−$10.1K −$1.54/SF
EGI
$184.5K $28.10/SF
− OpEx
−$83.0K −$12.64/SF
NOI
$101.5K $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%
$2,029,460
Cap Rate 7%
$1,449,614
Cap Rate 9%
$1,127,478
Alternative Uses
Best Use
Apartment 5plus
$1.45M
$1.27M – $1.69M
NOI $101,473 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,697 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
10
Residential units
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 - Ten apartments are served by solid mechanical systems in a downtown property.
Where is this apartment building located?
The property is located at 344 Main Street Biddeford, ME.
What is the asking price?
The asking price for this property is $1,525,000.
What are key features of this property?
This property features: 10 apartments in a 6,566‑square‑foot building; Built in 1900 and zoned MSRD2; Solid mechanical systems
