Flat Commercial
406 Alfred Street, Biddeford, ME 04005
For Sale
$649,900
R1B-zoned parcel with three-phase power, water, and sewer available in front of the property.
Property Size1,973 SF
Price / SF$329.40
Days on Market994
Property Features for 406 Alfred Street
General Information
Standard status
Size
Property subtype
Zoning
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Listing Agency:
Regency Realty Group
Listed By:
Matthew Chamberlain
(207) 450-7653
Source:
Integrityhomesrealestategroup
Added: Feb 22, 2024
Changed: Nov 11
Last Checked: Nov 11 at 2:06AM
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 Regency Realty Group
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Investment Insights
Based on property information with market context.
This R1B-zoned parcel includes an existing house with 1,973 square feet on the main level and 791 finished square feet in the basement, which has a separate entrance. The residence contains three bedrooms and three bathrooms. Its interior features custom wood paneling, two fireplaces, cast-iron baseboard heating, built-in cabinets, and medical-grade outlets in several rooms. A portion of the front lawn can be subdivided as a single-family house lot.
The property is at 406 Alfred Street in Biddeford, Maine. Three-phase power, water, and sewer are in front of the parcel. The site is described as flat, with no ledge observed. The zoning permits residential use and neighborhood convenience store or service use. A new ordinance allows up to 30 units with a 2.5-times density bonus when 30% of the housing is affordable.
The property is at 406 Alfred Street in Biddeford, Maine. Three-phase power, water, and sewer are in front of the parcel. The site is described as flat, with no ledge observed. The zoning permits residential use and neighborhood convenience store or service use. A new ordinance allows up to 30 units with a 2.5-times density bonus when 30% of the housing is affordable.
Key Highlights
- R1B zoning
- New ordinance allows up to 30 units with a 2.5‑times density bonus when 30% is affordable housing
- Three‑phase power, water, and sewer are in front of the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,318
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$646,360
$646.4K
Cap Rate 7%
$461,686
$461.7K
Cap Rate 9%
$359,089
$359.1K
Market Conditions
NOI Build-Up for 1,973 SF
Gross rent
$49.2K $24.96/SF
− Vacancy
−$6.2K −$3.12/SF
EGI
$43.1K $21.84/SF
− OpEx
−$10.8K −$5.46/SF
NOI
$32.3K $16.38/SF
Area
York County, ME
Vacancy
12.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$646,360
Cap Rate 7%
$461,686
Cap Rate 9%
$359,089
Alternative Uses
Best Use
Office B
$461.7K
$404.0K – $538.6K
NOI $32,318 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$625.4K
$547.3K – $729.7K
NOI $43,780 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
507
Businesses Nearby
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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
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Market
Properties on Market for Commercial land in York County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Commercial land - R1B-zoned parcel with three-phase power, water, and sewer available in front of the property.
Where is this commercial land located?
The property is located at 406 Alfred Street Biddeford, ME.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: R1B zoning; New ordinance allows up to 30 units with a 2.5‑times density bonus when 30% is affordable housing; Three‑phase power, water, and sewer are in front of the property
