New Construction
New
For Sale
$495,000
62 Middle Ridge Road, Bridgton, ME 04009
Multi-Family, Bridgton, ME
Property Size2,040 SF
Lot Size1.84 Acres
Price / SF$242.65
Days on Market1
Property Features for 62 Middle Ridge Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
Rural
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Lot features
Near Country Club, Well Landscaped, Open, Level, Near Golf Course, Near Public Beach, Near Town
Standard status
Active
Size
2,040 SF
Lot size
1.84 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2961
Utilities
Sewer type
Septic Tank
Heating system
Heat Pump (Heating), Baseboard, Electric (Heating)
Cooling system
Heat Pump
Water source
Well, Private
Water front features
Lake
Water front
1
Building Details
Year built
2026
Number of units
2
Flooring type
Carpet, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Colonial
Listing Agency:
Oberg Insurance & Real Estate Agency, Inc.
(207) 647-5551
Listed By:
James Oberg
(207) 647-5551
Added: Aug 26
Last Checked: Aug 26 at 9:06PM
MLS# 1677783
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 under-construction Colonial duplex is planned with 2,040 square feet of finished space across two residential units. Each unit includes 2 bedrooms, 1.5 baths, a kitchen with granite countertops, stainless steel appliances, and a washer/dryer. The combined layout provides 4 bedrooms, 2 full baths, and 2 half baths. Wood-frame construction, vinyl siding, shingle roofing, carpet and vinyl flooring, spray foam insulation, baseboard heat, and electric heat pumps are specified for the property, with heat-pump cooling also included.
Set on 1.84 acres at 62 Middle Ridge Road in Bridgton, Maine, the property has lake waterfront features and Rural zoning. Private well water and a septic tank serve the site. Construction is identified for 2026, offering a newly built multifamily configuration rather than an older existing structure.
Set on 1.84 acres at 62 Middle Ridge Road in Bridgton, Maine, the property has lake waterfront features and Rural zoning. Private well water and a septic tank serve the site. Construction is identified for 2026, offering a newly built multifamily configuration rather than an older existing structure.
Key Highlights
- Two‑unit duplex with 2,040 square feet of property size
- Each unit includes 2 bedrooms and 1.5 baths; combined total is 4 bedrooms, 2 full baths, and 2 half baths
- 1.84‑acre parcel with lake waterfront features
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
$36,050
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
7.28%
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%
$721,000
$721.0K
Cap Rate 7%
$515,000
$515.0K
Cap Rate 9%
$400,556
$400.6K
Market Conditions
NOI Build-Up for 2,040 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
$55.1K $27.00/SF
− Vacancy
−$3.6K −$1.76/SF
EGI
$51.5K $25.25/SF
− OpEx
−$15.4K −$7.57/SF
NOI
$36.0K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /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%
$721,000
Cap Rate 7%
$515,000
Cap Rate 9%
$400,556
Alternative Uses
Best Use
Multifamily LT 5
$515.0K
$450.6K – $600.8K
NOI $36,050 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$479.1K
$419.2K – $559.0K
NOI $33,539 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$560.7K
$490.6K – $654.2K
NOI $39,249 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 04009, ME
5,298
Population
4,580
Households
1.2
Avg Household Size
51
Median Age
32%
College-Educated
93%
High-School Grad
56.5 sq mi
ZIP Area
94
Density / Sq Mi
$86,386
Median Household Income
$48,737
Median Earnings
$1,196
Median Rent
$286,600
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?
Duplex - Two-unit property with granite kitchens, stainless appliances, and heat-pump heating and cooling.
Where is this duplex located?
The property is located at 62 Middle Ridge Road Bridgton, ME.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,040 square feet of property size; Each unit includes 2 bedrooms and 1.5 baths; combined total is 4 bedrooms, 2 full baths, and 2 half baths; 1.84‑acre parcel with lake waterfront features
