Building Details

Year Built 1950

Tenancy Multi

Listing Agency: Coldwell Banker Realty

Listed By: Robert Letellier · License #BA916091 Show Phone

Source: Aroostookrealestate

Added: Aug 12 Changed: Sep 30 Last Checked: Oct 15 at 1:55AM

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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 Coldwell Banker Realty

Investment Insights

Based on property information with market context.

This mixed-use property combines two occupied rental units with an established on-site laundromat. The upper-front residence is a renovated studio, while the lower-rear unit received updates from July through September 2025, including new flooring, plumbing, a stove, paint, and replacement windows. Property improvements also include newer windows and doors, updated electrical panels and wiring, tankless hot-water systems, and a roof replaced in phases. Independent heating, hot-water, and security systems serve the laundromat utility room.

Located on the shores of Sokokis Lake at 8 Emery Corner Rd in Limerick, the property includes deep-water frontage, a private dock, a swim area, and a small beach access point. Dining and coffee shops are within walking distance. Business/residential zoning allows approximately 30% expansion potential, offering flexibility for additional laundromat or residential space.

Key Highlights

• Mixed‑use property with two occupied rental units and an operating laundromat
• Business/residential zoning with approximately 30% expansion potential
• Deep‑water frontage on Sokokis Lake with private dock, swim area, and beach access point

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,940

Cap Rate

5.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$698,800 $698.8K

Cap Rate 7%

$499,143 $499.1K

Cap Rate 9%

$388,222 $388.2K

Market Conditions

NOI Build-Up for 2,064 SF

Gross rent

$52.5K $25.44/SF

− Vacancy

−$2.6K −$1.26/SF

EGI

$49.9K $24.18/SF

− OpEx

−$15.0K −$7.25/SF

NOI

$34.9K $16.93/SF

Area

York County, ME

Vacancy

4.94%

Lease Rate

$25.44 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$698,800

Cap Rate 7%

$499,143

Cap Rate 9%

$388,222

Alternative Uses

Best Use

Multifamily LT 5

$499.1K

$436.8K – $582.3K (±1% cap)

NOI $34,940 @ 7.0% cap · market cap 5.87%

Second Best

Apartment 5plus

$455.7K

$398.7K – $531.6K (±1% cap)

NOI $31,898 @ 7.0% cap · market cap 5.36%

Theoretical Best

Office A

$654.3K

$572.5K – $763.3K (±1% cap)

NOI $45,799 @ 7.0% cap · market cap 7.70%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Laundromat (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Plumbing Service Auto Parts Store Bakery (Bike/Boat/Book/etc) Store Real Estate Agency Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

70

Businesses Nearby

Explore this area Business Placement

Demographics for 04048, ME

3,188

Population

1,565

Households

2

Avg Household Size

41

Median Age

24%

College-Educated

94%

High-School Grad

27.1 sq mi

ZIP Area

118

Density / Sq Mi

$90,125

Median Household Income

$45,791

Median Earnings

$1,153

Median Rent

$264,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Business/residential zoning supports rental housing and an operating laundromat with direct lake access.

Where is this mixed-use property located?

The property is located at 8 Emery Corner Rd Limerick, ME.

What is the asking price?

The asking price for this property is $595,000.

What are key features of this property?

This property features: Mixed‑use property with two occupied rental units and an operating laundromat; Business/residential zoning with approximately 30% expansion potential; Deep‑water frontage on Sokokis Lake with private dock, swim area, and beach access point