Six-Unit Apartment
360 Pine Point Road, Scarborough, ME 04074
For Sale
$1,450,000
Each residence has its own laundry, and parking is available behind the building.
Property Size3,488 SF
Price / SF$415.71
Days on Market188
Property Features for 360 Pine Point Road
General Information
Standard status
Size
Property subtype
Additional Details
Highway Access
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
in-unit laundry
parking
Building Details
Building Size
Year Built
Listing Agency:
King + Miller Real Estate
Listed By:
Bridget King Jason Miller
(207) 805-3716
Source:
Oceanviewproperties
Added: May 6
Changed: Nov 7
Last Checked: Nov 8 at 2:50PM
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 King + Miller Real Estate
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Investment Insights
Based on property information with market context.
This six-unit apartment property in Scarborough contains 3,488 square feet and was built in 1900. Every unit has in-unit laundry, with parking located behind the building. The property has a history of seasonal rentals, with shorter stays during summer and housing for traveling professionals in cooler months.
The building is near Pine Point’s shoreline, with access to the beach via Snowberry Park. Pine Point dining and other offerings are within walking distance. Scarborough is the surrounding town, and Portland and a highway are described as readily accessible.
The building is near Pine Point’s shoreline, with access to the beach via Snowberry Park. Pine Point dining and other offerings are within walking distance. Scarborough is the surrounding town, and Portland and a highway are described as readily accessible.
Key Highlights
- Six apartment units across 3,488 square feet
- Built in 1900
- In‑unit laundry in every residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,345
Cap Rate
3.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,146,900
$1.1M
Cap Rate 7%
$819,214
$819.2K
Cap Rate 9%
$637,167
$637.2K
Market Conditions
NOI Build-Up for 3,488 SF
Gross rent
$110.9K $31.80/SF
− Vacancy
−$6.7K −$1.91/SF
EGI
$104.3K $29.89/SF
− OpEx
−$46.9K −$13.45/SF
NOI
$57.3K $16.44/SF
Area
Cumberland County, ME
Vacancy
6.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,146,900
Cap Rate 7%
$819,214
Cap Rate 9%
$637,167
Alternative Uses
Best Use
Apartment 5plus
$819.2K
$716.8K – $955.8K
NOI $57,345 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$958.7K
$838.9K – $1.12M
NOI $67,108 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
Explore this area
Business Placement
Demographics for 04074, ME
21,952
Population
10,561
Households
2.1
Avg Household Size
46
Median Age
58%
College-Educated
99%
High-School Grad
47.6 sq mi
ZIP Area
461
Density / Sq Mi
$125,642
Median Household Income
$55,955
Median Earnings
$1,821
Median Rent
$502,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Cumberland County, ME
Properties on Market for Apartment buildings in Cumberland County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Each residence has its own laundry, and parking is available behind the building.
Where is this apartment building located?
The property is located at 360 Pine Point Road Scarborough, ME.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Six apartment units across 3,488 square feet; Built in 1900; In‑unit laundry in every residence
