10-Unit Apartment
For Sale
$2,750,000
79 W Cutts Street, Biddeford, ME 04005
Multi-Family, Biddeford, ME
Property Size8,808 SF
Lot Size1.10 Acres
Price / SF$312.22
Days on Market106
Property Features for 79 W Cutts Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
MSRD-2
Bathrooms
10
Full bathrooms
10
Rooms
Bathroom 9, Bathroom 4, Bathroom 6, Bathroom 1, Bathroom 3, Basement, Bathroom 2, Bathroom 5, Bathroom 7, Bathroom 8, Bathroom 10
Basement
Full, Unfinished
Lot features
Open, Level, Near Shopping
Standard status
Active
Size
8,808 SF
Lot size
1.10 Acres
Taxes and HOA fees
Tax Year
25
Tax Annual Amount
28747
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating), Natural Gas
Water source
Public
Building Details
Year built
1900
Number of units
10
Flooring type
Carpet, Hardwood, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle, Composition
Architectural style
Ranch, Colonial
Buildings
3
Listing Agency:
The Real Estate Store
(207) 883-4327
Listed By:
David Dunn
(207) 807-6038
Added: Jul 20
Changed: Nov 2
Last Checked: Nov 2 at 3:06PM
MLS# 1659566
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.
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Investment Insights
Based on property information with market context.
This multifamily property comprises three buildings with 10 total units and 18 bedrooms across 8,808 square feet. The buildings include a five-unit structure at 79 W Cutts Street, a three-unit building at 6 Banks Lane constructed in 2003, and a two-unit building at 4 Banks Lane completed in 2023. The improvements feature wood-frame construction, vinyl siding, a mix of vinyl, carpet, and hardwood flooring, and natural-gas hot-water baseboard heat.
The property occupies 1.1 acres in Biddeford, Maine, with public water and public sewer service. Zoning is MSRD-2. Planning board approval may allow development of an additional 13 units, providing a defined expansion path for a future multifamily or condominium project.
The property occupies 1.1 acres in Biddeford, Maine, with public water and public sewer service. Zoning is MSRD-2. Planning board approval may allow development of an additional 13 units, providing a defined expansion path for a future multifamily or condominium project.
Key Highlights
- 10 units and 18 bedrooms across three buildings
- 8,808 square feet of total building area on 1.1 acres
- Two‑unit building at 4 Banks Lane built in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$136,121
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,722,420
$2.7M
Cap Rate 7%
$1,944,586
$1.9M
Cap Rate 9%
$1,512,456
$1.5M
Market Conditions
NOI Build-Up for 8,808 SF
Gross rent
$261.1K $29.64/SF
− Vacancy
−$13.6K −$1.54/SF
EGI
$247.5K $28.10/SF
− OpEx
−$111.4K −$12.64/SF
NOI
$136.1K $15.45/SF
Area
York County, ME
Vacancy
5.20%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,722,420
Cap Rate 7%
$1,944,586
Cap Rate 9%
$1,512,456
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.
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Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
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Business Placement
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three-building multifamily property with public water and sewer 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: 10 units and 18 bedrooms across three buildings; 8,808 square feet of total building area on 1.1 acres; Two‑unit building at 4 Banks Lane built in 2023
