Mixed-Use Two-Unit
94 Saco Avenue, Old Orchard Beach, ME 04064
For Sale
$599,000
Furnished apartments support seasonal short-term rentals, with the upper unit transitioning to a winter lease through May 2027.
Property Size2,524 SF
Price / SF$237.32
Days on Market111
Property Features for 94 Saco Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Asking Price
Taxes and HOA fees
Annual Taxes
Amenities
in-unit laundry
insulated enclosed porch
surveillance camera system
detached garage
leased business sign
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Elevate Maine Realty
(207) 331-4565
Listed By:
Katrina Manker
(617) 291-0766
Source:
Amerorealty
Added: Jul 22
Changed: Nov 7
Last Checked: Nov 9 at 1:26PM
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 Elevate Maine Realty
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Investment Insights
Based on property information with market context.
At 94 Saco Avenue, this 2,524-square-foot, two-unit property includes a first-floor apartment with three bedrooms and 1.5 baths, plus a second-floor apartment with two bedrooms and one bath. The lower unit has in-unit laundry and an enclosed porch rebuilt and insulated for additional sleeping space. The property is furnished, and six parking spaces serve the two apartments. A detached garage and a leased business sign are also on site.
The property is about a 10-minute walk from the Old Orchard Beach Pier, the seven-mile beach, restaurants, shops, and entertainment. Recent work includes a roof replaced in 2024 and siding and windows updated in 2025. The building dates to 1930.
The property is about a 10-minute walk from the Old Orchard Beach Pier, the seven-mile beach, restaurants, shops, and entertainment. Recent work includes a roof replaced in 2024 and siding and windows updated in 2025. The building dates to 1930.
Key Highlights
- Two apartments total 2,524 square feet, with three‑bedroom and two‑bedroom layouts
- Six dedicated parking spaces
- Enclosed porch rebuilt and insulated; configured for two additional Airbnb beds
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,727
Cap Rate
7.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$854,540
$854.5K
Cap Rate 7%
$610,386
$610.4K
Cap Rate 9%
$474,744
$474.7K
Market Conditions
NOI Build-Up for 2,524 SF
Gross rent
$64.2K $25.44/SF
− Vacancy
−$3.2K −$1.26/SF
EGI
$61.0K $24.18/SF
− OpEx
−$18.3K −$7.25/SF
NOI
$42.7K $16.93/SF
Area
York County, ME
Vacancy
4.94%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$854,540
Cap Rate 7%
$610,386
Cap Rate 9%
$474,744
Alternative Uses
Best Use
Multifamily LT 5
$610.4K
$534.1K – $712.1K
NOI $42,727 @ 7.0% cap · market cap 7.13%
Second Best
Apartment 5plus
$557.2K
$487.6K – $650.1K
NOI $39,007 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$800.1K
$700.1K – $933.5K
NOI $56,007 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
476
Businesses Nearby
Explore this area
Business Placement
Demographics for 04064, ME
8,452
Population
6,783
Households
1.2
Avg Household Size
53
Median Age
40%
College-Educated
96%
High-School Grad
6.7 sq mi
ZIP Area
1,261
Density / Sq Mi
$66,689
Median Household Income
$42,532
Median Earnings
$1,142
Median Rent
$312,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in York County, ME
Properties on Market for Mixed-use properties in York County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Furnished apartments support seasonal short-term rentals, with the upper unit transitioning to a winter lease through May 2027.
Where is this mixed-use property located?
The property is located at 94 Saco Avenue Old Orchard Beach, ME.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two apartments total 2,524 square feet, with three‑bedroom and two‑bedroom layouts; Six dedicated parking spaces; Enclosed porch rebuilt and insulated; configured for two additional Airbnb beds
