Two-Story Office Building with
Portland, ME 04103 Portland, ME 04103
Portland, ME, 04103
$1,150,000
For Sale
$1,150,000
COMMERCIAL - Portland, ME
Property Size3,360 SF
Price / SF$342.26
Days on Market318
Property Features
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- Size
- 3,360 SF
Building Details
- Year built
- 1970
Listing agency
Auburn, Maine
(207) 782-8311
Listed by
Renee Roy
(207) 782-8311
Added: Sep 8, 2025 Updated: Jul 20 at 4:08PM Checked: Jul 22 at 8:06AM
MLS# 1636883
Copyright © 2026 Better Homes and Gardens-The Masiello Group. 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.
Two-story office building totaling 3,360 square feet with a wood-frame structure and brick facade on the front and sides, with vinyl in the rear. The interior is configured with five offices and multiple restrooms, including two full baths and two additional half baths. The property also includes a large paved parking lot that could accommodate 21+ vehicles, along with a brand new underground sprinkler system for the lawn.
The building has a direct entrance from Forest Ave, and parking is available on both sides of the street. Access is also provided from the rear of the building through the main paved parking lot. The building is directly across from Baxter Park, which features walking trails.
Owner prefers to lease the building.
The building has a direct entrance from Forest Ave, and parking is available on both sides of the street. Access is also provided from the rear of the building through the main paved parking lot. The building is directly across from Baxter Park, which features walking trails.
Owner prefers to lease the building.
Key Highlights
- Two‑story 3,360 SF wood‑frame building with brick front/side facade and vinyl rear (built 1970)
- Layout includes 5 offices plus 2 full baths and 2 half baths
- Large paved parking lot can accommodate 21+ vehicles
Local 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 | $73.4k | $21.84 |
| − Vacancy | −$9.2k | −$2.75 |
| EGI | $64.1k | $19.09 |
| − OpEx | −$16.0k | −$4.77 |
| NOI | $48.1k | $14.32 |
3,360 SF · lease $21.84/SF/yr · vacancy 12.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$687.2K
$601.3K – $801.7K
NOI $48,102 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$923.5K
$808.1K – $1.08M
NOI $64,645 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Two-story wood-frame office building with brick facade, multiple private offices, and parking for 21+ vehicles.
Where is this office building located?
The property is located at Portland, ME.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two‑story 3,360 SF wood‑frame building with brick front/side facade and vinyl rear (built 1970); Layout includes 5 offices plus 2 full baths and 2 half baths; Large paved parking lot can accommodate 21+ vehicles
