Five-Unit Apartment
New
For Sale
$880,000
8 Prince Street, Lincoln, ME 04457
Multi-Family, Lincoln, ME
Property Size6,100 SF
Lot Size0.57 Acres
Price / SF$144.26
Days on Market4
Property Features for 8 Prince Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
Commercial
Bathrooms
5
Full bathrooms
5
Rooms
Basement, Bathroom 1, Bathroom 4, Bathroom 5, Bathroom 2, Bathroom 3
Patio and Porch features
Deck
Pets allowed
No
Interior features
Other Amenities, 1st Floor Bedroom, Bathtub, Pantry, Shower
Basement
Walk-Out Access, Finished, Full, Sump Pump
Accessibility
Accessible Approach with Ramp
Lot features
Near Country Club, Well Landscaped, Open, Level, Intown, Near Public Beach, Near Shopping, Near Town
Standard status
Active
Size
6,100 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6789
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Oil, Heat Pump (Heating), Hot Water(Heating), Electric (Heating), Zoned
Cooling system
Window Unit(s), Heat Pump
Water source
Public
Water front features
Lake
Water front
1
Amenities
private dock
private decks
Building Details
Year built
1971
Floors in Building
2
Number of units
5
Flooring type
Laminate, Vinyl
Building materials
Wood Frame, Vertical Siding, Vinyl Siding
Roof type
Shingle
Architectural style
Ranch
Additional Structures
Other
Listing Agency:
Pooley Realty Group
(207) 832-3011
Listed By:
Lucinda Tilas
(207) 656-8725
Added: Oct 4
Last Checked: Oct 7 at 3:06PM
MLS# 1683116
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 6,100-square-foot apartment property contains five units: one one-bedroom, three two-bedroom, and one three-bedroom apartment. Each unit has a private deck, and the residents share a dock on Mattanawcook Pond. The property occupies 0.57 acres and was built in 1971. Commercial zoning is in place, with public water and sewer service.
A public beach and park are nearby. Town offices, shopping, and restaurants are within walking distance in Lincoln, Maine.
A public beach and park are nearby. Town offices, shopping, and restaurants are within walking distance in Lincoln, Maine.
Key Highlights
- Five apartments: one 1‑bedroom, three 2‑bedroom, and one 3‑bedroom
- 6,100 square feet on 0.57 acres
- Shared dock on Mattanawcook Pond
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,416
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,028,320
$1.0M
Cap Rate 7%
$734,514
$734.5K
Cap Rate 9%
$571,289
$571.3K
Market Conditions
NOI Build-Up for 6,100 SF
Gross rent
$98.8K $16.20/SF
− Vacancy
−$5.3K −$0.87/SF
EGI
$93.5K $15.33/SF
− OpEx
−$42.1K −$6.90/SF
NOI
$51.4K $8.43/SF
Area
Penobscot County, ME
Vacancy
5.40%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,028,320
Cap Rate 7%
$734,514
Cap Rate 9%
$571,289
Alternative Uses
Best Use
Apartment 5plus
$734.5K
$642.7K – $856.9K
NOI $51,416 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.97M
$1.72M – $2.30M
NOI $137,909 @ 7.0% cap · market cap 15.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
Explore this area
Business Placement
Demographics for 04457, ME
5,689
Population
3,587
Households
1.6
Avg Household Size
48
Median Age
21%
College-Educated
94%
High-School Grad
258.8 sq mi
ZIP Area
22
Density / Sq Mi
$51,403
Median Household Income
$32,646
Median Earnings
$647
Median Rent
$126,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Five apartments have private decks, and residents share a dock on Mattanawcook Pond.
Where is this apartment building located?
The property is located at 8 Prince Street Lincoln, ME.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: Five apartments: one 1‑bedroom, three 2‑bedroom, and one 3‑bedroom; 6,100 square feet on 0.57 acres; Shared dock on Mattanawcook Pond
