Updated Four-Unit
For Sale
$769,000
35 Wentworth Street, Biddeford, ME 04005
Fully occupied building with two- to three-bedroom layouts and laundry hookups in dedicated storage rooms.
Property Size3,764 SF
Price / SF$204.30
Days on Market57
Property Features for 35 Wentworth Street
General Information
Standard status
Active
Size
3,764 SF
Property subtype
Multi-family
Occupancy
100%
Lease Term
[]
Additional Details
Multifamily Units
4
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Portside Real Estate Group
(207) 233-8314
Listed By:
John Fitzsimons
(207) 233-8314
Source:
Portsiderealestategroup
Added: Jul 6
Changed: Aug 31
Last Checked: Aug 30 at 6:00PM
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 Portside Real Estate Group
Investment Insights
Based on property information with market context.
This 3,764-square-foot quadplex contains four occupied units, each arranged with a flexible two- to three-bedroom layout. Spacious storage rooms provide laundry hookups, adding practical utility to each residence. The property was built in 1920 and has received multiple improvements, including updated electrical panels, replacement windows, and updated heating systems.
Located at 35 Wentworth Street in downtown Biddeford, the property also includes a paved driveway and parking area. Its established four-unit configuration, residential layouts, and completed capital work provide a clear physical profile for evaluating the asset as a multifamily property.
Located at 35 Wentworth Street in downtown Biddeford, the property also includes a paved driveway and parking area. Its established four-unit configuration, residential layouts, and completed capital work provide a clear physical profile for evaluating the asset as a multifamily property.
Key Highlights
- Four occupied residential units
- 3,764 SF quadplex built in 1920
- Each unit offers a two- to three‑bedroom layout
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
$63,718
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
8.29%
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%
$1,274,360
$1.3M
Cap Rate 7%
$910,257
$910.3K
Cap Rate 9%
$707,978
$708.0K
Market Conditions
NOI Build-Up for 3,764 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
$95.8K $25.44/SF
− Vacancy
−$4.7K −$1.26/SF
EGI
$91.0K $24.18/SF
− OpEx
−$27.3K −$7.25/SF
NOI
$63.7K $16.93/SF
Area
York County, ME
Vacancy
4.94%
Lease Rate
$25.44 /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%
$1,274,360
Cap Rate 7%
$910,257
Cap Rate 9%
$707,978
Alternative Uses
Best Use
Multifamily LT 5
$910.3K
$796.5K – $1.06M
NOI $63,718 @ 7.0% cap · market cap 8.29%
Second Best
Apartment 5plus
$831.0K
$727.1K – $969.5K
NOI $58,170 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,522 @ 7.0% cap · market cap 10.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
986
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied building with two- to three-bedroom layouts and laundry hookups in dedicated storage rooms.
Where is this quadplex located?
The property is located at 35 Wentworth Street Biddeford, ME.
What is the asking price?
The asking price for this property is $769,000.
What are key features of this property?
This property features: Four occupied residential units; 3,764 SF quadplex built in 1920; Each unit offers a two- to three‑bedroom layout
