Three-Building Multifamily
For Sale
$1,200,000
6 Proctor Road Unit A, Biddeford, ME 04005
Three connected smart-enabled buildings provide separate living spaces, rental flexibility, and independent utility metering.
Property Size4,911 SF
Price / SF$244.35
Days on Market117
Property Features for 6 Proctor Road Unit A
General Information
Standard status
Active
Size
4,911 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Highway Access
Yes
Amenities
smart-enabled
radiant floor heating
laundry rooms
paved parking
Building Details
Year Built
1941
Buildings
3
Listing Agency:
EXP Realty
Listed By:
John Krouse
(207) 536-4222
Source:
Portsiderealestategroup
Added: May 5
Changed: Aug 28
Last Checked: Aug 28 at 2:31PM
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 EXP Realty
Investment Insights
Based on property information with market context.
This 4,911-square-foot multifamily property includes three separate smart-enabled buildings on more than an acre. The primary residence offers three bedrooms, an in-law suite with its own kitchen, two laundry rooms, custom-tiled bathrooms, radiant floor heating in select areas, a Viessmann heating system, a newer metal roof, and a 20KW whole-house generator. A detached secondary building includes a full bath, two ductless mini-splits, full networking, and a separate 10KW generator; its structure was designed to accommodate a future second story. The cottage has an open layout, washer and dryer, mounted television, Bose surround sound, and its own 10KW generator.
All three structures are integrated through app-controlled lighting, locks, cameras, thermostats, and alarms. Separate electric meters, individually monitored in-ground propane tanks, paved parking, and a leach field installed in 2021 add operational detail. The property is near downtown Biddeford, the University of New England, beaches, restaurants, and I-95. Flexible zoning is also noted, and the buildings may support multigenerational living, rental use, or short-term rental use.
All three structures are integrated through app-controlled lighting, locks, cameras, thermostats, and alarms. Separate electric meters, individually monitored in-ground propane tanks, paved parking, and a leach field installed in 2021 add operational detail. The property is near downtown Biddeford, the University of New England, beaches, restaurants, and I-95. Flexible zoning is also noted, and the buildings may support multigenerational living, rental use, or short-term rental use.
Key Highlights
- Three smart‑enabled buildings totaling 4,911 SF on more than an acre
- Main residence includes three bedrooms plus an in‑law suite with its own kitchen
- Detached building has a full bath, two ductless mini‑splits, networking, and a 10KW generator
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
$75,896
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
6.32%
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%
$1,517,920
$1.5M
Cap Rate 7%
$1,084,229
$1.1M
Cap Rate 9%
$843,289
$843.3K
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
$145.6K $29.64/SF
− Vacancy
−$7.6K −$1.54/SF
EGI
$138.0K $28.10/SF
− OpEx
−$62.1K −$12.64/SF
NOI
$75.9K $15.45/SF
Area
York County, ME
Vacancy
5.20%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
45.00%
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%
$1,517,920
Cap Rate 7%
$1,084,229
Cap Rate 9%
$843,289
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$948.7K – $1.26M
NOI $75,896 @ 7.0% cap · market cap 6.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $108,973 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
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?
Multifamily property - Three connected smart-enabled buildings provide separate living spaces, rental flexibility, and independent utility metering.
Where is this multifamily property located?
The property is located at 6 Proctor Road Unit A Biddeford, ME.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Three smart‑enabled buildings totaling 4,911 SF on more than an acre; Main residence includes three bedrooms plus an in‑law suite with its own kitchen; Detached building has a full bath, two ductless mini‑splits, networking, and a 10KW generator
