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Building Details

Year Built 2018

Listing Agency: Pine Tree Realty of Maine

Listed By: Deborah Shaw Mancini Show Phone

Source: Profoundrealestate

Added: Oct 10 Changed: Oct 15 Last Checked: Oct 14 at 11:04PM

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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 Pine Tree Realty of Maine

Investment Insights

Based on property information with market context.

This 2018 duplex contains two separate dwelling units, offering a distinct residential configuration. An oversized heated garage measures 32' x 28', and the property encompasses 2 acres in New Gloucester, Maine.

Key Highlights

• Two separate dwelling units
• 32' x 28' heated garage
• 2 acres in New Gloucester

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,667

Cap Rate

7.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$633,340 $633.3K

Cap Rate 7%

$452,386 $452.4K

Cap Rate 9%

$351,856 $351.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,792 SF

Gross rent

$48.4K $27.00/SF

− Vacancy

−$3.1K −$1.76/SF

EGI

$45.2K $25.25/SF

− OpEx

−$13.6K −$7.57/SF

NOI

$31.7K $17.67/SF

Area

Cumberland County, ME

Vacancy

6.50%

Lease Rate

$27.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$633,340

Cap Rate 7%

$452,386

Cap Rate 9%

$351,856

Alternative Uses

Best Use

Multifamily LT 5

$452.4K

$395.8K – $527.8K (±1% cap)

NOI $31,667 @ 7.0% cap · market cap 7.36%

Second Best

Apartment 5plus

$420.9K

$368.3K – $491.0K (±1% cap)

NOI $29,462 @ 7.0% cap · market cap 6.85%

Theoretical Best

Office A

$492.5K

$431.0K – $574.6K (±1% cap)

NOI $34,477 @ 7.0% cap · market cap 8.02%

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

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Dental Office Auto Repair Shop Restaurant Veterinary Clinic Grocery & Convenience Store Food Market

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

2

Residential units

Location Intelligence

Trade Area within ½ mile

17

Businesses Nearby

Explore this area Business Placement

Demographics for 04260, ME

5,676

Population

2,274

Households

2.5

Avg Household Size

43

Median Age

33%

College-Educated

96%

High-School Grad

47.1 sq mi

ZIP Area

121

Density / Sq Mi

$107,781

Median Household Income

$49,507

Median Earnings

$1,270

Median Rent

$316,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Similar For Sale Nearby

See more

Duplex on 9.71 Acres

86 Skips Way, New Gloucester, ME 04260

$551,194

View details

Three-Unit Property with Detached Garage

290 Penney Rd, New Gloucester, ME 04260

$449,999

2,752 SF

View details

Frequently Asked Questions

What type of property is this?

Duplex - Two separate dwelling units sit on a two-acre country property in New Gloucester.

Where is this duplex located?

The property is located at 866 Lewiston Road New Gloucester, ME.

What is the asking price?

The asking price for this property is $430,000.

What are key features of this property?

This property features: Two separate dwelling units; 32' x 28' heated garage; 2 acres in New Gloucester