Smart-Enabled Triplex with Detached
For Sale
$1,100,000
6 Proctor Road, Biddeford, ME 04005
Multi-Family, Biddeford, ME
Property Size4,911 SF
Lot Size1.10 Acres
Price / SF$223.99
Days on Market70
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, Bathroom 2, Basement, 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
Full, Unfinished
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
Private Sewer, Septic Tank
Heating system
Heat Pump (Heating), Forced Air, Propane (Heating), Radiant, Electric (Heating), Natural Gas, Zoned
Cooling system
Heat Pump
Water source
Well, Private
Amenities
radiant heat
generator
mini-splits
networking capabilities
washer/dryer
smart controls
laundry
Building Details
Year built
1941
Number of units
3
Flooring type
Vinyl, Carpet, Laminate, Plank, Wood, Tile
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle, Membrane, Metal
Architectural style
Contemporary, Colonial, Cottage
Additional Structures
Other
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
John Krouse
(207) 929-0956
Added: Jul 19
Changed: Sep 26
Last Checked: Sep 26 at 7:06AM
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 4,911-square-foot triplex property includes a primary residence, a detached secondary building, and an independent cottage on 1.1 acres. The main residence offers three bedrooms, an in-law suite with a separate kitchen, two laundry rooms, custom-tiled baths, radiant heat in select areas, Viessmann heating, a newer metal roof, and a 20KW generator.
The additional buildings expand the property's functional layout. The detached building includes a full bath, two mini-splits, networking capability, and a 10KW generator, while the cottage provides another self-contained living area with a washer and dryer and its own 10KW generator. Separate electric meters, smart controls, paved parking, and a 2021 leach field add practical infrastructure. The property is zoned RF, uses a private well and septic system, and currently requires owner occupancy; intended use should be verified with the City of Biddeford. The location provides access to UNE, beaches, downtown, and I-95.
The additional buildings expand the property's functional layout. The detached building includes a full bath, two mini-splits, networking capability, and a 10KW generator, while the cottage provides another self-contained living area with a washer and dryer and its own 10KW generator. Separate electric meters, smart controls, paved parking, and a 2021 leach field add practical infrastructure. The property is zoned RF, uses a private well and septic system, and currently requires owner occupancy; intended use should be verified with the City of Biddeford. The location provides access to UNE, beaches, downtown, and I-95.
Key Highlights
- Three‑building configuration on 1.1 acres
- 4,911 SF property with a three‑bedroom main residence and in‑law suite
- Detached building includes a full bath, two mini‑splits, networking capability, 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
$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
7.56%
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 7.56%
Second Best
Apartment 5plus
$1.08M
$948.7K – $1.26M
NOI $75,896 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $108,973 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Three separate buildings support owner occupancy and flexible living arrangements.
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 $1,100,000.
What are key features of this property?
This property features: Three‑building configuration on 1.1 acres; 4,911 SF property with a three‑bedroom main residence and in‑law suite; Detached building includes a full bath, two mini‑splits, networking capability, and a 10KW generator
