6-Unit Apartment Building with Turn-Key
For Sale
Contact for pricing
60 Bay St, Winslow, ME 04901
Fully occupied 6-unit apartments plus a turn-key laundromat, with apartment renovations over the past four years.
Property Size8,919 SF
Lot Size0.38 Acres
Price / SF$257.88
Days on Market137
Property Features for 60 Bay St
General Information
Standard status
Active
Size
8,919 SF
Lot size
0.38 Acres
Property subtype
RETAIL
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
6
Building Details
Year Renovated
2018
Buildings
2
Tenancy
Multi
Listing Agency:
The Dunham Group
(207) 773-7100
Listed By:
Joe Atwood · License #SA928863
(207) 773-7100
Source:
Moodyscre
Added: Mar 19
Changed: Jul 29
Last Checked: Jul 29 at 7:53PM
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 property combines a fully occupied 6-unit apartment building with a high-end, turn-key laundromat, supported by a total of 8,919± SF on 0.38± acres. The laundromat is 5,814 SF and is presented as a true turn-key operation, with the sale including the established business, all equipment, and business assets along with the real estate. The laundromat was completely renovated in 2018 and is described as well-maintained and fully operational.
The attached 3,105 SF apartment building is fully occupied and provides residential rental income. All apartments have been completely renovated over the last 4 years, with new kitchens in all but two units.
Located at 60 Bay St in Winslow, the property offers a combined residential and laundry-use setup on one parcel.
The attached 3,105 SF apartment building is fully occupied and provides residential rental income. All apartments have been completely renovated over the last 4 years, with new kitchens in all but two units.
Located at 60 Bay St in Winslow, the property offers a combined residential and laundry-use setup on one parcel.
Key Highlights
- Fully occupied 6‑unit apartment building totals 3,105 SF
- Apartments renovated over the last 4 years; new kitchens in all but two units
- Turn‑key 5,814 SF laundromat includes established business, equipment, and business assets
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $160.5k | $18.00 |
| − Vacancy | −$2.6k | −$0.29 |
| EGI | $158.0k | $17.71 |
| − OpEx | −$71.1k | −$7.97 |
| NOI | $86.9k | $9.74 |
8,919 SF · lease $18.00/SF/yr · vacancy 1.60% · expense 45.00%
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
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
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 - Fully occupied 6-unit apartments plus a turn-key laundromat, with apartment renovations over the past four years.
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: Fully occupied 6‑unit apartment building totals 3,105 SF; Apartments renovated over the last 4 years; new kitchens in all but two units; Turn‑key 5,814 SF laundromat includes established business, equipment, and business assets
