Renovated
77 Central Street, Westbrook, ME 04092
For Sale
$549,900
Two residential units offer a downtown-area setting near shops, restaurants, and parks.
Property Size1,918 SF
Price / SF$286.70
Days on Market43
Property Features for 77 Central Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Listing Agency:
The Maine Real Estate Experience
(207) 345-2207
Listed By:
Gregory Nisbet
(207) 756-9232
Source:
Amerorealty
Added: Sep 29
Changed: Nov 7
Last Checked: Nov 9 at 1:42PM
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 Maine Real Estate Experience
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Investment Insights
Based on property information with market context.
This renovated duplex contains two residential units within a 1,918-square-foot building. Built in 1900, the property occupies a large in-town lot and includes off-street parking.
Downtown shops, restaurants, and parks are within walking distance. The property is located at 77 Central Street in Westbrook, Maine.
Downtown shops, restaurants, and parks are within walking distance. The property is located at 77 Central Street in Westbrook, Maine.
Key Highlights
- Two‑unit residential property
- 1,918‑square‑foot building, constructed in 1900
- Renovated condition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,894
Cap Rate
6.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$677,880
$677.9K
Cap Rate 7%
$484,200
$484.2K
Cap Rate 9%
$376,600
$376.6K
Market Conditions
NOI Build-Up for 1,918 SF
Gross rent
$51.8K $27.00/SF
− Vacancy
−$3.4K −$1.76/SF
EGI
$48.4K $25.25/SF
− OpEx
−$14.5K −$7.57/SF
NOI
$33.9K $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 Rate 5%
$677,880
Cap Rate 7%
$484,200
Cap Rate 9%
$376,600
Alternative Uses
Best Use
Multifamily LT 5
$484.2K
$423.7K – $564.9K
NOI $33,894 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$450.5K
$394.2K – $525.6K
NOI $31,533 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$527.2K
$461.3K – $615.0K
NOI $36,901 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
594
Businesses Nearby
Explore this area
Business Placement
Demographics for 04092, ME
20,400
Population
9,404
Households
2.2
Avg Household Size
40
Median Age
40%
College-Educated
96%
High-School Grad
17.2 sq mi
ZIP Area
1,186
Density / Sq Mi
$85,868
Median Household Income
$49,922
Median Earnings
$1,373
Median Rent
$341,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Cumberland County, ME
Properties on Market for Duplexes in Cumberland County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer a downtown-area setting near shops, restaurants, and parks.
Where is this duplex located?
The property is located at 77 Central Street Westbrook, ME.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Two‑unit residential property; 1,918‑square‑foot building, constructed in 1900; Renovated condition
