Lakefront Duplex with Private
For Sale
$625,000
8 Emery Corner Road, Limerick, ME 04048
MULTI_FAMILY - Ranch - Limerick, ME
Property Size2,064 SF
Lot Size0.30 Acres
Price / SF$302.81
Days on Market79
Property Features for 8 Emery Corner Road
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
Village
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1
Security features
Security System
Interior features
One-Floor Living
Basement
Finished, Full, Walk-Out Access
Lot features
Corner Lot, Level, Intown, Near Shopping
Standard status
Active
Size
2,064 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4014
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Hot Water(Heating), Baseboard, Propane (Heating), Natural Gas
Water source
Public
Water front features
Lake, Waterfront
Water front
1
Amenities
private dock
swim area
small beach access point
on-demand tankless hot water systems
Building Details
Year built
1950
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Laminate, Carpet
Building materials
Masonry, Wood Frame, Clapboard, Other Exterior
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(207) 282-5988
Listed By:
Robert Letellier
(207) 590-5178
Added: May 30
Changed: Aug 3
Last Checked: Aug 16 at 1:06AM
MLS# 1655282
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 ranch-style duplex sits on the shores of Sokokis Lake and combines two fully occupied rental units with an established on-site laundromat. The property has approximately 2,064 square feet of space on a 0.3-acre lot, with public water and public sewer services. Updates include newer windows and doors, updated electrical panels and wiring, and on-demand tankless hot water systems. The roof has been replaced in phases, with half completed approximately three years ago and the remaining portion several years prior.
The residential component includes Unit A (upper front), a studio that was completely renovated approximately four years ago with all-new finishes at the time. Unit B (lower rear) was refreshed from July through September 2025 with new flooring throughout, updated plumbing, a new stove, fresh paint, and replacement windows. Both units include dimmable lighting. The laundromat has a utility room with independent systems for heat, hot water, and security.
Outdoor amenities support seasonal living with deep water frontage, a private dock, a swim area, and small beach access. There is also flexibility to expand, with approximately 30% expansion potential available under current zoning.
The residential component includes Unit A (upper front), a studio that was completely renovated approximately four years ago with all-new finishes at the time. Unit B (lower rear) was refreshed from July through September 2025 with new flooring throughout, updated plumbing, a new stove, fresh paint, and replacement windows. Both units include dimmable lighting. The laundromat has a utility room with independent systems for heat, hot water, and security.
Outdoor amenities support seasonal living with deep water frontage, a private dock, a swim area, and small beach access. There is also flexibility to expand, with approximately 30% expansion potential available under current zoning.
Key Highlights
- Two fully occupied rental units plus an established on‑site laundromat with utility room for heat, hot water, and security
- Deep water lake frontage with a private dock, swim area, and small beach access
- Roof replaced in phases: half completed approximately three years ago; remaining portion several years prior
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
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?
Duplex - Two fully occupied rental units and an established on-site laundromat on a lakefront property with private dock access.
Where is this duplex located?
The property is located at 8 Emery Corner Road 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: Two fully occupied rental units plus an established on‑site laundromat with utility room for heat, hot water, and security; Deep water lake frontage with a private dock, swim area, and small beach access; Roof replaced in phases: half completed approximately three years ago; remaining portion several years prior
