Waterfront Estate with Multiple
For Sale
$1,995,000
475-477 South Street, Biddeford, ME 04005
A private waterfront estate with a Maine farmhouse, additional cottage and in-law apartment, and extensive storage outbuildings.
Property Size3,554 SF
Lot Size20.00 Acres
Price / SF$561.34
Days on Market93
Property Features for 475-477 South Street
General Information
Standard status
Active
Size
3,554 SF
Lot size
20.00 Acres
Property subtype
Multi-family
Building Details
Year Built
1900
Listing Agency:
F.O. Bailey Real Estate
Listed By:
Thomas Gadbois
(603) 433-3350
Source:
Greatislandrealty
Added: May 31
Changed: Aug 28
Last Checked: Aug 30 at 6:19PM
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 F.O. Bailey Real Estate
Investment Insights
Based on property information with market context.
Welcome to 475-477 South Street, a private 20-acre waterfront estate in Biddeford, Maine. The centerpiece is a classic 5-bedroom, 3-bath Maine farmhouse overlooking a tranquil pond, with an in-ground pool and pool house for outdoor entertaining. The property also borders approximately 300 acres of conservation land, offering privacy and a countryside feel.
The estate includes multiple additional structures and living spaces, including a 3-car garage and an oversized 2+ car garage with finished space above. A separate 3-bedroom, 1-bath cottage has its own address, and a 2-bedroom, 1-bath in-law apartment includes storage below. Car and hobby enthusiasts will appreciate a 6,800± square-foot storage garage, along with a fenced animal barn for potential small-farm or hobby use.
Water access is a key feature, with approximately 287 feet of frontage on Swans Pond Brook and the ability to boat to the scenic Saco River. The property is described as being minutes from downtown Biddeford and close to Kennebunk and Kennebunkport, with approximately 20 minutes to Portland and about 90 minutes to Boston.
The estate includes multiple additional structures and living spaces, including a 3-car garage and an oversized 2+ car garage with finished space above. A separate 3-bedroom, 1-bath cottage has its own address, and a 2-bedroom, 1-bath in-law apartment includes storage below. Car and hobby enthusiasts will appreciate a 6,800± square-foot storage garage, along with a fenced animal barn for potential small-farm or hobby use.
Water access is a key feature, with approximately 287 feet of frontage on Swans Pond Brook and the ability to boat to the scenic Saco River. The property is described as being minutes from downtown Biddeford and close to Kennebunk and Kennebunkport, with approximately 20 minutes to Portland and about 90 minutes to Boston.
Key Highlights
- 20‑acre private estate in Biddeford, ME with classic 5‑bedroom, 3‑bath Maine farmhouse built in 1900
- Farmhouse overlooks a tranquil pond and includes an in‑ground pool and pool house
- Additional living options: separate 3‑bedroom, 1‑bath cottage with its own address plus a 2‑bedroom, 1‑bath in‑law apartment with storage below
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
$60,163
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
3.02%
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%
$1,203,260
$1.2M
Cap Rate 7%
$859,471
$859.5K
Cap Rate 9%
$668,478
$668.5K
Market Conditions
NOI Build-Up for 3,554 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
$90.4K $25.44/SF
− Vacancy
−$4.5K −$1.26/SF
EGI
$85.9K $24.18/SF
− OpEx
−$25.8K −$7.25/SF
NOI
$60.2K $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%
$1,203,260
Cap Rate 7%
$859,471
Cap Rate 9%
$668,478
Alternative Uses
Best Use
Multifamily LT 5
$859.5K
$752.0K – $1.00M
NOI $60,163 @ 7.0% cap · market cap 3.02%
Second Best
Apartment 5plus
$784.6K
$686.6K – $915.4K
NOI $54,925 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$1.13M
$985.8K – $1.31M
NOI $78,862 @ 7.0% cap · market cap 3.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
9
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?
Triplex - A private waterfront estate with a Maine farmhouse, additional cottage and in-law apartment, and extensive storage outbuildings.
Where is this triplex located?
The property is located at 475-477 South Street Biddeford, ME.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 20‑acre private estate in Biddeford, ME with classic 5‑bedroom, 3‑bath Maine farmhouse built in 1900; Farmhouse overlooks a tranquil pond and includes an in‑ground pool and pool house; Additional living options: separate 3‑bedroom, 1‑bath cottage with its own address plus a 2‑bedroom, 1‑bath in‑law apartment with storage below
