Biddeford Multifamily Investment
79 W Cutts Street Biddeford, ME 04005
For Sale
$2,750,000
COMMERCIAL - Biddeford, ME
Property Size8,808 SF
Lot Size1.10 Acres
Price / SF$312.22
Days on Market11
Property Features for 79 W Cutts Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MSRD-2
Rooms
Basement
Basement
Unfinished, Full
Standard status
Active
Size
8,808 SF
Lot size
1.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
19683
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating), Natural Gas
Water source
Public
Building Details
Year built
1900
Flooring type
Vinyl, Hardwood, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Composition, Shingle
Listing Agency:
The Real Estate Store
(207) 883-4327
Listed By:
David Dunn
(207) 807-6038
Added: Jul 20
Changed: Jul 28
Last Checked: Jul 30 at 6:06AM
MLS# 1659944
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 offering comprises three buildings totaling 10 units. The properties include a 5-unit building at 79 W Cutts Street, a 3-unit building at 6 Banks Lane constructed in 2003, and a 2-unit building at 4 Banks Lane built in 2023. The combined square footage of all three buildings is 8808 square feet, featuring a total of 18 bedrooms. Situated on a 1.1-acre lot, the MSRD-2 zoning allows for the construction of an additional 13 units, subject to planning board approval. This presents an ideal opportunity for a condo project.
Key Highlights
- Three‑building multifamily property totaling 10 units: 5 units at #79 W Cutts plus 3 units at #6 Banks Lane and 2 units at #4 Banks Lane
- Buildings total 8,808 SF with 18 bedrooms across all three buildings
- #6 Banks Lane is a 3‑unit building built in 2003
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 | $261.1k | $29.64 |
| − Vacancy | −$13.6k | −$1.54 |
| EGI | $247.5k | $28.10 |
| − OpEx | −$111.4k | −$12.64 |
| NOI | $136.1k | $15.45 |
8,808 SF · lease $29.64/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.94M
$1.70M – $2.27M
NOI $136,121 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.79M
$2.44M – $3.26M
NOI $195,446 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Ten units with development potential in Biddeford, Maine.
Where is this apartment building located?
The property is located at 79 W Cutts Street Biddeford, ME.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Three‑building multifamily property totaling 10 units: 5 units at #79 W Cutts plus 3 units at #6 Banks Lane and 2 units at #4 Banks Lane; Buildings total 8,808 SF with 18 bedrooms across all three buildings; #6 Banks Lane is a 3‑unit building built in 2003
