Renovated Office Building with
522 Washington Avenue Portland, ME 04103
For Sale
$590,000
COMMERCIAL - Portland, ME
Property Size3,170 SF
Lot Size0.16 Acres
Price / SF$186.12
Days on Market12
Property Features for 522 Washington Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Zoning
- B-2b
- Rooms
- Basement
- Interior features
- Storage
- Basement
- Full, Unfinished, Walk-Out Access
- Standard status
- Active
- Size
- 3,170 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 6173
Utilities
- Sewer type
- Public Sewer
- Heating system
- Hot Water(Heating), Natural Gas, Forced Air, Oil
- Water source
- Public
Building Details
- Year built
- 1920
- Flooring type
- Wood, Carpet, Vinyl, Hardwood
- Building materials
- Wood Frame, Vinyl Siding
- Roof type
- Shingle, Flat
- Additional Structures
- Storage
Listing Agency:
Vitalius Real Estate Group, LLC
(207) 541-3755
Listed By:
Briton Vitalius
(207) 541-3755
Added: Jul 14
Changed: Jul 22
Last Checked: Jul 24 at 11:06PM
MLS# 1662684
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.
Renovated and expanded in 2016, this commercial office building offers flexible space that has been partially leased to individual office tenants. The property includes on-site parking and basement storage, supporting a functional setup for a mix of office operations.
Located at 522 Washington Avenue in Portland, Maine, the building is described as high-visibility along Washington Avenue and offers easy access to I-295 as well as downtown Portland and surrounding neighborhoods. Zoning is listed as B-2b.
The building’s current configuration and partial tenancy create leasing and owner-occupant options. It may also be purchased as a package with the neighboring building at 526 Washington Ave.
Located at 522 Washington Avenue in Portland, Maine, the building is described as high-visibility along Washington Avenue and offers easy access to I-295 as well as downtown Portland and surrounding neighborhoods. Zoning is listed as B-2b.
The building’s current configuration and partial tenancy create leasing and owner-occupant options. It may also be purchased as a package with the neighboring building at 526 Washington Ave.
Key Highlights
- 5,445 +/- SF fully renovated and expanded commercial building on Washington Avenue in Portland
- Partially leased to individual office tenants, with additional available space for an investor or owner‑user
- On‑site parking plus basement storage for tenant and business use
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $69.2k | $21.84 |
| − Vacancy | −$8.7k | −$2.75 |
| EGI | $60.5k | $19.09 |
| − OpEx | −$15.1k | −$4.77 |
| NOI | $45.4k | $14.32 |
3,170 SF · lease $21.84/SF/yr · vacancy 12.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$648.3K
$567.3K – $756.4K
NOI $45,382 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$871.3K
$762.4K – $1.02M
NOI $60,989 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
FAQs
What type of property is this?
Office units - Renovated in 2016 with flexible office space, partially leased, plus on-site parking and basement storage.
Where is this office units located?
The property is located at 522 Washington Avenue Portland, ME.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: 5,445 +/- SF fully renovated and expanded commercial building on Washington Avenue in Portland; Partially leased to individual office tenants, with additional available space for an investor or owner‑user; On‑site parking plus basement storage for tenant and business use
