Scarborough Multifamily Investment
For Sale
Contact for pricing
90 Broadturn Rd, Scarborough, ME 04074
16-unit multifamily property in desirable Scarborough location.
Property Size11,478 SF
Price / SF$261.37
Days on Market162
Property Features for 90 Broadturn Rd
General Information
Standard status
Active
Size
11,478 SF
Class
B
Total Parking Spaces
21
Property subtype
Multifamily
Zoning
RF
Occupancy
94%
Building Details
Year Built
1945
Year Renovated
2025
Buildings
4
Stories
2
Units
16
Listing Agency:
KW Commercial Greater Portland
Listed By:
Alex Pirleci · License #BA926477
Source:
Crexi
Added: Mar 3
Changed: Aug 8
Last Checked: Aug 10 at 4:25PM
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 KW Commercial Greater Portland
Investment Insights
Based on property information with market context.
This is a rare opportunity to acquire a 16-unit multifamily property in Scarborough, ideally positioned in the Dunstan Corner neighborhood near the Saco border. The location provides convenient access to area amenities, the Maine Turnpike, and downtown Portland. This location offers strong rental appeal within the highly desirable Greater Portland market. The property consists of four buildings, each containing four units, for a total of 16 apartments. The unit mix includes fifteen 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit, an attractive configuration that supports consistent tenant demand. All but one unit are currently occupied, providing immediate income with minimal vacancy exposure. The asset has undergone substantial renovations in recent years, resulting in modernized interiors, updated major systems, and improved long-term durability. New heat pumps have been installed in all units, enhancing energy efficiency and tenant comfort. Additional income is generated through on-site coin-operated laundry, and each unit benefits from two dedicated parking spaces plus overflow parking for guests. The property size is 11478 square feet. With strong in-place occupancy, recent capital improvements, and a strategic location in one of Southern Maine’s most sought-after communities, this offering presents a compelling opportunity for investors seeking stable cash flow and long-term appreciation.
Key Highlights
- Prime location in Scarborough's Dunstan Corner, near Saco border, with easy access to amenities, Maine Turnpike, and Portland.
- 16‑unit multifamily property with a desirable unit mix: fifteen 2‑bedroom\/1‑bath and one 1‑bedroom\/1‑bath.
- Substantial recent renovations including modernized interiors and updated major systems.
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
$188,705
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
6.29%
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%
$3,774,100
$3.8M
Cap Rate 7%
$2,695,786
$2.7M
Cap Rate 9%
$2,096,722
$2.1M
Market Conditions
NOI Build-Up for 11,478 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
$365.0K $31.80/SF
− Vacancy
−$21.9K −$1.91/SF
EGI
$343.1K $29.89/SF
− OpEx
−$154.4K −$13.45/SF
NOI
$188.7K $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 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%
$3,774,100
Cap Rate 7%
$2,695,786
Cap Rate 9%
$2,096,722
Alternative Uses
Best Use
Apartment 5plus
$2.70M
$2.36M – $3.15M
NOI $188,705 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.15M
$2.76M – $3.68M
NOI $220,832 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Explore this area
Business Placement
Demographics for 04074, ME
21,952
Population
10,561
Households
2.1
Avg Household Size
46
Median Age
58%
College-Educated
99%
High-School Grad
47.6 sq mi
ZIP Area
461
Density / Sq Mi
$125,642
Median Household Income
$55,955
Median Earnings
$1,821
Median Rent
$502,700
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?
Apartment building - 16-unit multifamily property in desirable Scarborough location.
Where is this apartment building located?
The property is located at 90 Broadturn Rd Scarborough, ME.
What is the asking price?
The asking price for this property is $2,999,999.
What are key features of this property?
This property features: Prime location in Scarborough's Dunstan Corner, near Saco border, with easy access to amenities, Maine Turnpike, and Portland.; 16‑unit multifamily property with a desirable unit mix: fifteen 2‑bedroom\/1‑bath and one 1‑bedroom\/1‑bath.; Substantial recent renovations including modernized interiors and updated major systems.
