Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    753 Main St South Portland, ME 04106

    Sponsored
    For Sale
    $425,000

    MULTI_FAMILY - Other - South Portland, ME

    Property size:
    1,372 SF
    Lot size:
    0.38 Acres
    Days on Market:
    14
    Last Refresh:
    Feb 4 at 4:06 am

    Property Features for 753 Main St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RT
    Rooms
    Basement, Bathroom 1, Bathroom 2
    Basement
    Full, Unfinished
    Size
    1,372 SF
    Lot size
    0.38 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard
    Water source
    Public

    Building Details

    Year built
    1920
    Number of units
    2
    Flooring type
    Wood, Laminate, Tile
    Building materials
    Vinyl Siding, Wood Frame
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Philip Verrill

    Verrill Real Estate Inc (207) 756-0649

    Listing agent Philip Verrill (207) 756-0649

    Listing date Jan 22, 2026

    MLS# 1635157 Listing URL

    Copyright © 2026 Maine Real Estate Information System, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    South Portland Multifamily Investment Opportunity

    This multifamily property in South Portland, Maine, presents an investment opportunity. The zoning and lot size may allow for the addition of a third unit, according to the code office. The property includes a newer furnace and monitor heater. Long-term tenants are in place. The location provides easy access to public transportation. The property size is 1372 square feet, situated on a 0.38-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    South Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.309089
    Latitude
    43.617843

    Nearby Similar for Sale

    • New
      $629,000
      2,323 SF

      Renovated Duplex in Ferry Village

      Two-unit property in South Portland's historic Ferry Village neighborhood.
      134 Sawyer St, South Portland, ME 04106
      View Details
    • New
      $389,000
      1,628 SF

      Updated Commercial Condo Near Interstates

      Commercial condo with updates, contractor bay, and office space.
      2108 Broadway, South Portland, ME 04106
      View Details
    • $560,000
      4,370 SF

      Mixed-Use Property in South Portland

      Mixed-use property with office spaces and apartment in South Portland.
      854 Broadway, South Portland, ME 04106
      View Details
    • $560,000
      0.23 Acres

      Mixed-Use Property in South Portland

      Mixed-use property with office spaces and apartment in South Portland.
      854 Broadway, South Portland, ME 04106
      View Details
    • $4,327,286
      7,424 SF

      South Portland Medical Investment Opportunity

      Long-term NNN investment with a strong healthcare tenant.
      254 Western Ave, South Portland, ME 04106
      View Details
    • $4,650,000
      20,700 SF

      Retail Building Near Maine Mall

      20,700 SF retail building on 2 acres for sale.
      130 Western Ave, South Portland, ME 04106
      View Details
    • Contact for pricing
      2,100 SF

      Commercial Zoned Property For Sale

      Commercial zoned property ideal for contractor, roofer, or storage.
      179 Lincoln St, South Portland, ME 04106
      View Details
    • $3,800,000
      2,495 SF

      Office Space Near Maine Mall

      2,495 SF mixed-use/office space near Maine Mall.
      244 Western Ave, South Portland, ME 04106
      View Details
    • Contact for pricing
      17,071 SF

      South Portland Medical Office Building

      17,071 SF Medical Office, Ample Parking
      244 Western Ave, South Portland, ME 04106
      View Details

    FAQs

    What type of property is this?
    Duplex - Multifamily property with potential for a third unit.
    Where is this duplex located?
    The property is located at 753 Main St South Portland, ME.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: - Opportunity to add a 3rd unit (per code office, zoning and lot size); - Prime location with easy access to public transportation; - Long-term tenants already in place
    (207) 756-0649
    Request Owner's contact information
    753 Main St South Portland, ME 04106
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    753 Main St
    South Portland, ME 04106
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    753 Main St South Portland, ME 04106
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Philip Verrill
    (207) 756-0649
    Learn more
    Google sign-in failed. Please try again or use another login method.