Turn-Key Investment Opportunity in
For Sale
Contact for pricing
60 Bay St, Winslow, ME 04901
Laundromat, real estate, and fully occupied six-unit apartment building.
Property Size8,919 SF
Lot Size0.38 Acres
Price / SF$257.88
Days on Market146
Property Features for 60 Bay St
General Information
Standard status
Active
Size
8,919 SF
Class
A
Lot size
0.38 Acres
Property subtype
Retail, Multifamily
Zoning
MU
Occupancy
100%
Building Details
Year Built
1998
Year Renovated
2018
Buildings
2
Stories
2
Units
7
Tenancy
Multi
Listing Agency:
The Dunham Group
(207) 773-7100
Listed By:
Joe Atwood · License #SA928863
Source:
Crexi
Added: Mar 19
Changed: Aug 8
Last Checked: Aug 10 at 3:17PM
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 The Dunham Group
Investment Insights
Based on property information with market context.
This is an investment opportunity in Winslow featuring a laundromat with real estate and a fully occupied six-unit apartment building, totaling approximately 8,919 square feet on approximately 0.38 acres. The approximately 5,814 square foot laundromat is a turn-key operation, with the sale including the established business, all equipment and business assets, and the real estate. The property offers income potential with an established customer base and modern infrastructure. The approximately 3,105 square foot, fully occupied six-unit apartment building provides rental income and occupancy history. The laundromat was renovated in 2018, and all apartments have been renovated over the last 4 years with new kitchens in all but two.
Key Highlights
- Turn‑key laundromat business, real estate, and fully occupied six‑unit apartment building included in sale.
- Established laundromat business with all equipment and assets included, providing immediate income potential.
- Six‑unit apartment building provides consistent rental income and strong occupancy history.
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
$86,885
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
3.78%
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%
$1,737,700
$1.7M
Cap Rate 7%
$1,241,214
$1.2M
Cap Rate 9%
$965,389
$965.4K
Market Conditions
NOI Build-Up for 8,919 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
$160.5K $18.00/SF
− Vacancy
−$2.6K −$0.29/SF
EGI
$158.0K $17.71/SF
− OpEx
−$71.1K −$7.97/SF
NOI
$86.9K $9.74/SF
Area
Kennebec County, ME
Vacancy
1.60%
Lease Rate
$18.00 /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%
$1,737,700
Cap Rate 7%
$1,241,214
Cap Rate 9%
$965,389
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $86,885 @ 7.0% cap · market cap 3.78%
Second Best
Retail
$1.23M
$1.08M – $1.44M
NOI $86,128 @ 7.0% cap · market cap 3.74%
Theoretical Best
Warehouse
$13.31M
$11.64M – $15.52M
NOI $931,440 @ 7.0% cap · market cap 40.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
Explore this area
Business Placement
Demographics for 04901, ME
26,491
Population
12,084
Households
2.2
Avg Household Size
41
Median Age
30%
College-Educated
93%
High-School Grad
78.8 sq mi
ZIP Area
336
Density / Sq Mi
$54,122
Median Household Income
$33,623
Median Earnings
$957
Median Rent
$188,800
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?
Apartment building - Laundromat, real estate, and fully occupied six-unit apartment building.
Where is this apartment building located?
The property is located at 60 Bay St Winslow, ME.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Turn‑key laundromat business, real estate, and fully occupied six‑unit apartment building included in sale.; Established laundromat business with all equipment and assets included, providing immediate income potential.; Six‑unit apartment building provides consistent rental income and strong occupancy history.
