Six-Unit Apartment
8 Spring Street, Westbrook, ME 04092
For Sale
$1,150,000
Multi-Family, Westbrook, ME
Property Size4,102 SF
Lot Size0.18 Acres
Price / SF$280.35
Days on Market93
Property Features for 8 Spring Street
General Information
Property type
Property subtype
Zoning
Bathrooms
Full bathrooms
Rooms
Parking features
Pets allowed
Interior features
Basement
Lot features
Standard status
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Water source
Amenities
dedicated off-street parking
two-car detached garage
double-pane windows
coin-operated laundry
tenant storage
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Architectural style
Additional Structures
Buildings
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Kirk Butterfield · License #MAINEBR918896
(207) 205-4007
Added: Aug 7
Changed: Oct 27
Last Checked: Nov 7 at 10:06AM
MLS# 1675209
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 fully occupied apartment building contains six units arranged across three levels, with a mix of two two-bedroom residences and four one-bedroom residences. The 4,102-square-foot structure was built in 1900 and features wood-frame construction with vinyl siding, wood and vinyl flooring, double-pane windows, and steam heat supplied by natural gas. Tenant amenities include coin-operated laundry and individual storage areas.
The property occupies 0.18 acres in downtown Westbrook and includes assigned off-street parking plus a detached two-car garage. Public water and public sewer serve the building, while the roof is finished with shingles. The property is identified with CCD zoning and includes a basement along with six bathrooms.
The property occupies 0.18 acres in downtown Westbrook and includes assigned off-street parking plus a detached two-car garage. Public water and public sewer serve the building, while the roof is finished with shingles. The property is identified with CCD zoning and includes a basement along with six bathrooms.
Key Highlights
- Six‑unit apartment building with two two‑bedroom units and four one‑bedroom units
- Fully occupied property arranged across three levels
- 4,102 Square Feet on 0.18 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,439
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,348,780
$1.3M
Cap Rate 7%
$963,414
$963.4K
Cap Rate 9%
$749,322
$749.3K
Market Conditions
NOI Build-Up for 4,102 SF
Gross rent
$130.4K $31.80/SF
− Vacancy
−$7.8K −$1.91/SF
EGI
$122.6K $29.89/SF
− OpEx
−$55.2K −$13.45/SF
NOI
$67.4K $16.44/SF
Area
Cumberland County, ME
Vacancy
6.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,348,780
Cap Rate 7%
$963,414
Cap Rate 9%
$749,322
Alternative Uses
Best Use
Apartment 5plus
$963.4K
$843.0K – $1.12M
NOI $67,439 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$986.5K – $1.32M
NOI $78,921 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
705
Businesses Nearby
Explore this area
Business Placement
Demographics for 04092, ME
20,400
Population
9,404
Households
2.2
Avg Household Size
40
Median Age
40%
College-Educated
96%
High-School Grad
17.2 sq mi
ZIP Area
1,186
Density / Sq Mi
$85,868
Median Household Income
$49,922
Median Earnings
$1,373
Median Rent
$341,800
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Cumberland County, ME
Properties on Market for Apartment buildings in Cumberland County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied apartment property with assigned off-street parking, tenant storage, and a detached two-car garage.
Where is this apartment building located?
The property is located at 8 Spring Street Westbrook, ME.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Six‑unit apartment building with two two‑bedroom units and four one‑bedroom units; Fully occupied property arranged across three levels; 4,102 Square Feet on 0.18 acres
