10-Unit Apartment
For Sale
$2,750,000
79 W Cutts Street, Biddeford, ME 04005
Commercial Sale, Biddeford, ME
Property Size8,808 SF
Lot Size1.10 Acres
Price / SF$312.22
Days on Market105
Property Features for 79 W Cutts Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MSRD-2
Rooms
Basement
Basement
Unfinished, Full
Lot features
Near Shopping
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
Natural Gas, Baseboard, Hot Water(Heating)
Water source
Public
Building Details
Year built
1900
Flooring type
Vinyl, Hardwood, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Composition, Shingle
Buildings
3
Listing Agency:
The Real Estate Store
(207) 883-4327
Listed By:
David Dunn
(207) 807-6038
Added: Jul 20
Changed: Oct 30
Last Checked: Nov 1 at 8:06AM
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.
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Investment Insights
Based on property information with market context.
This multifamily property includes three separate buildings totaling 10 units, 18 bedrooms, and 8,808 square feet on 1.1 acres. The unit distribution includes a five-unit building at 79 W Cutts Street, a three-unit building at 6 Banks Lane completed in 2003, and a two-unit building at 4 Banks Lane completed in 2023. Construction includes wood framing with vinyl siding, while interior finishes include hardwood, vinyl, and carpet flooring. The property also features basement space, composition and shingle roofing, baseboard and hot-water heating, and natural gas service.
Located in Biddeford, the property is served by public water and public sewer and is zoned MSRD-2. The zoning allows for consideration of 13 additional units through planning board approval. The address is 79 W Cutts Street, Biddeford, ME 04005.
Located in Biddeford, the property is served by public water and public sewer and is zoned MSRD-2. The zoning allows for consideration of 13 additional units through planning board approval. The address is 79 W Cutts Street, Biddeford, ME 04005.
Key Highlights
- Three buildings with 10 total units, 18 bedrooms, and 8,808 square feet
- 1.1‑acre multifamily property at 79 W Cutts Street, Biddeford, ME 04005
- Unit mix includes 5 units at 79 W Cutts, 3 units at 6 Banks Lane, and 2 units at 4 Banks Lane
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.
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 buildings with 10 total units, 18 bedrooms, and 8,808 square feet; 1.1‑acre multifamily property at 79 W Cutts Street, Biddeford, ME 04005; Unit mix includes 5 units at 79 W Cutts, 3 units at 6 Banks Lane, and 2 units at 4 Banks Lane
