4-Unit Multifamily
642 Limerick Road, Arundel, ME 04046
For Sale
$825,000
Separate garage space offers storage and workshop flexibility alongside the residential units.
Property Size3,570 SF
Lot Size3.00 Acres
Price / SF$231.09
Days on Market182
Property Features for 642 Limerick Road
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Listing Agency:
On Point Realty
Listed By:
Tasha Massey
(207) 754-5058
Source:
Amerorealty
Added: May 12
Changed: Nov 7
Last Checked: Nov 9 at 5:23PM
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 On Point Realty
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Investment Insights
Based on property information with market context.
Set on approximately 3 acres, this R-2 property contains four residential units, including one with three bedrooms. The 3,570-square-foot property also has eight garage bays, offering additional space for storage or workshop use. The building dates to 1972.
Work completed in recent years includes roofing improvements, exterior paint and siding work, septic upgrades, heating and hot water system updates, water treatment additions, regrading, and renovations to multiple units. The property is in Arundel, minutes from downtown Biddeford, shopping, restaurants, and everyday amenities. Biddeford and Kennebunk beaches are also accessible from the area, with Portland approximately 20 minutes away and Boston about 1 hour 15 minutes away.
Work completed in recent years includes roofing improvements, exterior paint and siding work, septic upgrades, heating and hot water system updates, water treatment additions, regrading, and renovations to multiple units. The property is in Arundel, minutes from downtown Biddeford, shopping, restaurants, and everyday amenities. Biddeford and Kennebunk beaches are also accessible from the area, with Portland approximately 20 minutes away and Boston about 1 hour 15 minutes away.
Key Highlights
- Four residential units, including a three‑bedroom unit
- Eight garage bays
- Approximately 3 acres; 3,570 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,434
Cap Rate
7.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,208,680
$1.2M
Cap Rate 7%
$863,343
$863.3K
Cap Rate 9%
$671,489
$671.5K
Market Conditions
NOI Build-Up for 3,570 SF
Gross rent
$90.8K $25.44/SF
− Vacancy
−$4.5K −$1.26/SF
EGI
$86.3K $24.18/SF
− OpEx
−$25.9K −$7.25/SF
NOI
$60.4K $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 Rate 5%
$1,208,680
Cap Rate 7%
$863,343
Cap Rate 9%
$671,489
Alternative Uses
Best Use
Multifamily LT 5
$863.3K
$755.4K – $1.01M
NOI $60,434 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$788.2K
$689.7K – $919.5K
NOI $55,172 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$1.13M
$990.2K – $1.32M
NOI $79,217 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
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Business Placement
Demographics for 04046, ME
7,893
Population
4,740
Households
1.7
Avg Household Size
51
Median Age
41%
College-Educated
98%
High-School Grad
44.4 sq mi
ZIP Area
178
Density / Sq Mi
$99,861
Median Household Income
$43,000
Median Earnings
$1,250
Median Rent
$559,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Separate garage space offers storage and workshop flexibility alongside the residential units.
Where is this quadplex located?
The property is located at 642 Limerick Road Arundel, ME.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Four residential units, including a three‑bedroom unit; Eight garage bays; Approximately 3 acres; 3,570 SF
