Renovated 16-Unit Apartment
For Sale
$2,999,999
90 Broadturn Road, Scarborough, ME 04074
Multi-Family, Scarborough, ME
Property Size11,478 SF
Lot Size9.00 Acres
Price / SF$261.37
Days on Market138
Property Features for 90 Broadturn Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RF
Bathrooms
16
Full bathrooms
16
Rooms
Bathroom 4, Bathroom 14, Bathroom 10, Bathroom 13, Bathroom 2, Bathroom 6, Bathroom 1, Bathroom 7, Bathroom 9, Bathroom 11, Bathroom 3, Bathroom 5, Bathroom 12, Bathroom 16, Bathroom 15, Bathroom 8
Parking features
Off Street
Interior features
1st Floor Bedroom, One-Floor Living
Lot features
Rolling/ Sloping, Open, Level, Wooded, Near Shopping, Near Turnpike/ Interstate
Standard status
Active
Size
11,478 SF
Lot size
9.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
21543
HOA Fee
$1,100 Annually
Utilities
Sewer type
Private Sewer
Heating system
Heat Pump (Heating), Electric (Heating), Oil, Hot Water(Heating)
Water source
Public
Amenities
on-site coin-operated laundry
Building Details
Year built
1945
Number of units
16
Flooring type
Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Metal
Architectural style
Cape Cod
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Alexandru Pirleci
(207) 239-6606
Added: Apr 28
Changed: Sep 11
Last Checked: Sep 12 at 10:06AM
MLS# 1653187
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 apartment property includes four wood-frame buildings with a combined 16 units and 11,478 square feet on 9 acres. The unit mix comprises fifteen 2-bedroom, 1-bath apartments and one 1-bedroom, 1-bath apartment. Built in 1945, the property features Cape Cod architecture, metal roofing, public water, private sewer, and off-street parking. Recent renovations have updated the interiors and major systems, while heat pumps serve every unit.
All apartments are occupied. Each unit has two dedicated parking spaces, with additional overflow parking available for guests, and on-site coin-operated laundry provides supplemental income. The property is located at 90 Broadturn Road in Scarborough, near the Saco border, with access to area amenities, the Maine Turnpike, and downtown Portland. The zoning designation is RF.
All apartments are occupied. Each unit has two dedicated parking spaces, with additional overflow parking available for guests, and on-site coin-operated laundry provides supplemental income. The property is located at 90 Broadturn Road in Scarborough, near the Saco border, with access to area amenities, the Maine Turnpike, and downtown Portland. The zoning designation is RF.
Key Highlights
- 9‑acre apartment property with 11,478 square feet
- Four buildings containing 16 apartments
- Unit mix includes fifteen 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
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
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Current Use
Lease Details
16
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
14
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
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 - Four buildings contain fully occupied apartments with dedicated parking, heat pumps, and coin-operated laundry.
Where is this apartment building located?
The property is located at 90 Broadturn Road 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: 9‑acre apartment property with 11,478 square feet; Four buildings containing 16 apartments; Unit mix includes fifteen 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
