6-Unit Apartment
105 Sherman Street, Portland, ME 04101
For Sale
$1,250,000
Six one-bedroom residences, leased parking, and established property management define this Portland multifamily property.
Property Size5,253 SF
Price / SF$237.96
Days on Market41
Property Features for 105 Sherman Street
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Cap Rate
Highway Access
Taxes and HOA fees
Annual Taxes
Amenities
1st Floor Bedroom
Storage
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
U&R Real Estate
(207) 835-0118
Listed By:
Amanda Wheeler
(207) 333-1050
Source:
Hayesrealestate
Added: Oct 1
Changed: Nov 10
Last Checked: Nov 10 at 2:13PM
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 U&R Real Estate
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Investment Insights
Based on property information with market context.
At 105 Sherman Street, this 5,253-square-foot apartment property contains six units, each configured with one bedroom and one bathroom. The building dates to 1910 and is zoned R6. Leased parking spaces provide an additional source of rental income, and property management is already in place. The property has a 7.28% cap rate and an established rental history.
Work completed over time includes a roof and exterior siding replacement in 2015, renovations to Units 2, 3, 5, and 6 between 2015 and 2019, and installation of a front porch and boiler in 2026. The property is in Portland, with access to I-295 and proximity to the Old Port, Arts District, Maine Medical Center, Deering Oaks, Hadlock Field, and Thompson’s Point.
Work completed over time includes a roof and exterior siding replacement in 2015, renovations to Units 2, 3, 5, and 6 between 2015 and 2019, and installation of a front porch and boiler in 2026. The property is in Portland, with access to I-295 and proximity to the Old Port, Arts District, Maine Medical Center, Deering Oaks, Hadlock Field, and Thompson’s Point.
Key Highlights
- Six units, each with one bedroom and one bathroom
- 5,253 square feet; built in 1910
- 7.28% cap rate and established rental history
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,362
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,727,240
$1.7M
Cap Rate 7%
$1,233,743
$1.2M
Cap Rate 9%
$959,578
$959.6K
Market Conditions
NOI Build-Up for 5,253 SF
Gross rent
$167.0K $31.80/SF
− Vacancy
−$10.0K −$1.91/SF
EGI
$157.0K $29.89/SF
− OpEx
−$70.7K −$13.45/SF
NOI
$86.4K $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 Rate 5%
$1,727,240
Cap Rate 7%
$1,233,743
Cap Rate 9%
$959,578
Alternative Uses
Best Use
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,362 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $101,065 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,904
Businesses Nearby
Explore this area
Business Placement
Demographics for 04101, ME
18,109
Population
11,510
Households
1.6
Avg Household Size
36
Median Age
57%
College-Educated
93%
High-School Grad
2.0 sq mi
ZIP Area
9,055
Density / Sq Mi
$60,726
Median Household Income
$45,009
Median Earnings
$1,457
Median Rent
$600,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Portland, ME
Properties on Market for Apartment buildings in Portland
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Six one-bedroom residences, leased parking, and established property management define this Portland multifamily property.
Where is this apartment building located?
The property is located at 105 Sherman Street Portland, ME.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Six units, each with one bedroom and one bathroom; 5,253 square feet; built in 1910; 7.28% cap rate and established rental history
