Triplex with Smart-Connected
For Sale
$1,150,000
6 Proctor Road, Biddeford, ME 04005
MULTI_FAMILY - Cottage, Contemporary, Colonial - Biddeford, ME
Property Size4,911 SF
Lot Size1.10 Acres
Price / SF$234.17
Days on Market25
Property Features for 6 Proctor Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RF
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 4, Basement, Bathroom 2, Bathroom 3
Parking features
Heated, Open
Security features
Security System
Patio and Porch features
Deck
Interior features
Other Amenities, Walk-in Closets, Attic, Bathtub, Shower, Primary Bedroom w/Bath
Basement
Unfinished, Full
Lot features
Level, Suburban
Standard status
Active
Size
4,911 SF
Lot size
1.10 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
8199
Utilities
Sewer type
Septic Tank, Private Sewer
Heating system
Heat Pump (Heating), Radiant, Zoned, Electric (Heating), Propane (Heating), Forced Air, Natural Gas
Cooling system
Heat Pump
Water source
Well, Private
Amenities
smart technology
paved parking
generator
separate electric meters
Building Details
Year built
1941
Number of units
3
Flooring type
Wood, Tile, Vinyl, Laminate, Plank, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Metal, Shingle, Membrane
Architectural style
Colonial, Contemporary, Cottage
Additional Structures
Other
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
John Krouse
(207) 929-0956
Added: Jul 19
Changed: Aug 11
Last Checked: Aug 12 at 1:06AM
MLS# 1643996
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex-style property offers three separate, smart-enabled buildings connected through app-based control of lights, locks, cameras, thermostats, and alarms. The main home features three bedrooms plus an in-law suite with its own kitchen, radiant floor heating in key areas, two laundry rooms, custom tiled bathrooms, and a Viessmann heating system. A newer metal roof and a 20KW whole-house generator support year-round comfort and reliability. Wall-mounted TVs convey.
A second detached building includes a full bath, two ductless mini-splits, its own 10KW generator, and dedicated networking capabilities, and was structurally designed for a future second story. The turnkey cottage is set up for rental or short-term rental use with an open floor plan, washer/dryer, a mounted TV, Bose surround sound, and a dedicated 10KW generator.
Set on 1.1 acres, the property totals 4,911 square feet and is supported by separate electric meters and private utilities, including in-ground propane tanks with remote monitoring and a newer leach field installed in 2021. Current cap rate is 13.52 percent, and the seller is open to owner financing opportunities. Year built is 1941.
A second detached building includes a full bath, two ductless mini-splits, its own 10KW generator, and dedicated networking capabilities, and was structurally designed for a future second story. The turnkey cottage is set up for rental or short-term rental use with an open floor plan, washer/dryer, a mounted TV, Bose surround sound, and a dedicated 10KW generator.
Set on 1.1 acres, the property totals 4,911 square feet and is supported by separate electric meters and private utilities, including in-ground propane tanks with remote monitoring and a newer leach field installed in 2021. Current cap rate is 13.52 percent, and the seller is open to owner financing opportunities. Year built is 1941.
Key Highlights
- Current cap rate at 13.52 percent
- Three separate smart‑enabled buildings connected via app‑based control for lights, locks, cameras, thermostats, and alarms
- 1.1 acres and 4,911 square feet with separate electric meters
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
$83,135
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
7.23%
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%
$1,662,700
$1.7M
Cap Rate 7%
$1,187,643
$1.2M
Cap Rate 9%
$923,722
$923.7K
Market Conditions
NOI Build-Up for 4,911 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
$124.9K $25.44/SF
− Vacancy
−$6.2K −$1.26/SF
EGI
$118.8K $24.18/SF
− OpEx
−$35.6K −$7.25/SF
NOI
$83.1K $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%
$1,662,700
Cap Rate 7%
$1,187,643
Cap Rate 9%
$923,722
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.39M
NOI $83,135 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$1.08M
$948.7K – $1.26M
NOI $75,896 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $108,973 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
12
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 - Triplex with three smart-connected buildings, separate electric meters, and app-controlled lights, locks, cameras, thermostats, and alarms.
Where is this triplex located?
The property is located at 6 Proctor Road Biddeford, ME.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Current cap rate at 13.52 percent; Three separate smart‑enabled buildings connected via app‑based control for lights, locks, cameras, thermostats, and alarms; 1.1 acres and 4,911 square feet with separate electric meters
