Three-Unit Colonial Apartment
New
For Sale
$345,000
75 Arsenal Street, Augusta, ME 04330
Multi-Family, Augusta, ME
Property Size2,916 SF
Lot Size0.38 Acres
Price / SF$118.31
Days on Market1
Property Features for 75 Arsenal Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 3, Bathroom 2, Bathroom 1
Basement
Full, Unfinished
Lot features
Rolling/ Sloping, Level, Sidewalks, Intown, Neighborhood
Standard status
Active
Size
2,916 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3133
Utilities
Sewer type
Public Sewer
Heating system
Oil, Hot Water(Heating)
Water source
Public
Amenities
off-street parking
full basement
oil heat
Building Details
Year built
1836
Number of units
3
Flooring type
Carpet, Wood, Vinyl
Building materials
Wood Frame, Clapboard
Roof type
Shingle
Architectural style
Colonial
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Karyn MacGrath
(207) 798-1635
Added: Aug 21
Last Checked: Aug 21 at 9:06PM
MLS# 1666016
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.
Built in 1836, this 2,916-square-foot Colonial-style triplex sits on 0.38 acres and includes two one-bedroom apartments plus one three-bedroom apartment. Unit #2 is vacant, allowing for owner occupancy or placement of a new tenant. The wood-frame, clapboard building includes a full basement, off-street parking, shingle roofing, and a mix of carpet, wood, and vinyl flooring. Heating is provided by an oil-fired hot-water system, with public water and public sewer serving the property.
The property is located at 75 Arsenal Street in Augusta’s East Side neighborhood, near downtown restaurants, shopping, and other amenities. MaineGeneral Medical Center is also described as being just minutes away. Residential zoning and the three-unit configuration support continued multifamily use.
The property is located at 75 Arsenal Street in Augusta’s East Side neighborhood, near downtown restaurants, shopping, and other amenities. MaineGeneral Medical Center is also described as being just minutes away. Residential zoning and the three-unit configuration support continued multifamily use.
Key Highlights
- Three‑unit configuration with two one‑bedroom apartments and one three‑bedroom apartment
- Unit #2 is vacant for owner occupancy or a new tenant
- 2,916 square feet on a 0.38‑acre lot
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
$28,407
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
8.23%
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%
$568,140
$568.1K
Cap Rate 7%
$405,814
$405.8K
Cap Rate 9%
$315,633
$315.6K
Market Conditions
NOI Build-Up for 2,916 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
$52.5K $18.00/SF
− Vacancy
−$840 −$0.29/SF
EGI
$51.6K $17.71/SF
− OpEx
−$23.2K −$7.97/SF
NOI
$28.4K $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%
$568,140
Cap Rate 7%
$405,814
Cap Rate 9%
$315,633
Alternative Uses
Best Use
Multifamily LT 5
$465.2K
$407.1K – $542.8K
NOI $32,565 @ 7.0% cap · market cap 9.44%
Second Best
Apartment 5plus
$405.8K
$355.1K – $473.5K
NOI $28,407 @ 7.0% cap · market cap 8.23%
Theoretical Best
Warehouse
$4.35M
$3.81M – $5.08M
NOI $304,527 @ 7.0% cap · market cap 88.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,106
Businesses Nearby
Explore this area
Business Placement
Demographics for 04330, ME
26,322
Population
13,017
Households
2
Avg Household Size
44
Median Age
28%
College-Educated
95%
High-School Grad
116.9 sq mi
ZIP Area
225
Density / Sq Mi
$55,158
Median Household Income
$43,177
Median Earnings
$912
Median Rent
$197,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Residential-zoned property with two one-bedroom units and one three-bedroom unit.
Where is this triplex located?
The property is located at 75 Arsenal Street Augusta, ME.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Three‑unit configuration with two one‑bedroom apartments and one three‑bedroom apartment; Unit #2 is vacant for owner occupancy or a new tenant; 2,916 square feet on a 0.38‑acre lot
