125 Kennebec Street 1, Portland, ME 04101

Building Details

Building Size 16,836 SF More

Year Built 1900 More

Buildings 2 More

Stories 3 More

Construction wood frame More

Listing Agency: Gardner Real Estate Group

Listed By: Edmund Gardner III Show Phone

Source: Oceanviewproperties

Added: Nov 4, 2025 Changed: Nov 7 Last Checked: Nov 9 at 9:35PM

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Investment Insights

Based on property information with market context.

This 16,836-square-foot mixed-use property comprises three stories and a full basement. The floors offer roughly 4,500 square feet each, with open layouts, oversized windows, and original wood floors and structural beams on the first level. A glass-and-steel entry links the two buildings and provides access to a shared double-door elevator and broad stair tower. The basement has windows and two egress points. On-site parking accommodates 13 or more vehicles, and the buildings share common expenses.

Located at 125 Kennebec Street in Portland, Maine, the property offers views of Back Cove from the third floor. The space has accommodated businesses and can be configured for retail, office, residential use, or a combination of those uses.

Key Highlights

• 16,836‑square‑foot property with three stories and a full basement
• Roughly 4,500 square feet per floor, with open layouts
• Basement includes windows and two egress points

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$209,103

Cap Rate

8.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,182,060 $4.2M

Cap Rate 7%

$2,987,186 $3.0M

Cap Rate 9%

$2,323,367 $2.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 16,836 SF

Gross rent

$363.7K $21.60/SF

− Vacancy

−$29.1K −$1.73/SF

EGI

$334.6K $19.87/SF

− OpEx

−$125.5K −$7.45/SF

NOI

$209.1K $12.42/SF

Area

Cumberland County, ME

Vacancy

8.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,182,060

Cap Rate 7%

$2,987,186

Cap Rate 9%

$2,323,367

Alternative Uses

Best Use

Office B

$3.44M

$3.01M – $4.02M (±1% cap)

NOI $241,026 @ 7.0% cap · market cap 10.18%

Second Best

Mixed Use

$2.99M

$2.61M – $3.49M (±1% cap)

NOI $209,103 @ 7.0% cap · market cap 8.83%

Theoretical Best

Office A

$4.63M

$4.05M – $5.40M (±1% cap)

NOI $323,917 @ 7.0% cap · market cap 13.68%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Retail space

Suggested Use

Top Pick Auto Parts Store (Bike/Boat/Book/etc) Store Pet Grooming Service Locksmith HVAC Service Tanning Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

6,471

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

Market

Average Price Trend$/SF for Mixed-use properties in Portland, ME

$213 Jul

$302 Aug

$361 Sep

$310 Oct

Properties on Market for Mixed-use properties in Portland

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Open floorplates, a windowed basement, and shared vertical circulation support a range of commercial and residential configurations.

Where is this mixed-use property located?

The property is located at 125 Kennebec Street 1 Portland, ME.

What is the asking price?

The asking price for this property is $2,368,000.

What are key features of this property?

This property features: 16,836‑square‑foot property with three stories and a full basement; Roughly 4,500 square feet per floor, with open layouts; Basement includes windows and two egress points