Lakefront Mixed-Use
For Sale
$625,000
8 Emery Corner Rd, Limerick, ME 04048
Business/residential zoning supports rental housing and an operating laundromat with direct lake access.
Property Size2,064 SF
Price / SF$302.81
Days on Market18
Property Features for 8 Emery Corner Rd
General Information
Standard status
Active
Size
2,064 SF
Property subtype
Multi-Family
Zoning
business/residential
Amenities
private dock
swim area
small beach access point
dimmable lighting
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
(207) 590-5178
Listed By:
Robert Letellier
Source:
Aroostookrealestate
Added: Aug 12
Changed: Aug 27
Last Checked: Aug 28 at 12:46PM
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,940
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $34,940 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$455.7K
$398.7K – $531.6K
NOI $31,898 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$654.3K
$572.5K – $763.3K
NOI $45,799 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 $625,000.
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
