Building Details

Year Built 1900

Stories 2

Listing Agency: Town & Shore Real Estate

Listed By: Jeffrey Davis · License #901562 Show Phone

Source: Compass

Added: Apr 7 Changed: Oct 4 Last Checked: Oct 16 at 10:39AM

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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 Town & Shore Real Estate

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Investment Insights

Based on property information with market context.

The offering covers the left portion of a 3,849-square-foot residential building with four units, approximately 80% complete. Permits are in place, while plumbing, electrical, fire sprinklers, windows, exterior masonry pointing, rear decks, Rockwool insulation, and drywall have been installed. The remaining work allows the purchaser to select flooring, kitchen cabinetry, and other finish details. Three units include lower-level bonus rooms with bathrooms, providing additional interior space. The property was built in 1900 and includes heat pump and baseboard heating components.

Located at 126 Danforth Street in Portland’s West End, the building is next to open green space with bright natural light and urban views. A paved parking area provides four spaces. Draft condominium documents are available for a future owner, and the completed units may be configured as rentals or condominiums.

Key Highlights

• Four units within a 3,849‑square‑foot building
• Approximately 80% complete with permits in place
• New plumbing, electrical, sprinkler system, windows, decks, insulation, and drywall

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$68,018

Cap Rate

5.69%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,360,360 $1.4M

Cap Rate 7%

$971,686 $971.7K

Cap Rate 9%

$755,756 $755.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,849 SF

Gross rent

$103.9K $27.00/SF

− Vacancy

−$6.8K −$1.76/SF

EGI

$97.2K $25.25/SF

− OpEx

−$29.2K −$7.57/SF

NOI

$68.0K $17.67/SF

Area

Cumberland County, ME

Vacancy

6.50%

Lease Rate

$27.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,360,360

Cap Rate 7%

$971,686

Cap Rate 9%

$755,756

Alternative Uses

Best Use

Multifamily LT 5

$971.7K

$850.2K – $1.13M (±1% cap)

NOI $68,018 @ 7.0% cap · market cap 5.69%

Second Best

Apartment 5plus

$904.0K

$791.0K – $1.05M (±1% cap)

NOI $63,280 @ 7.0% cap · market cap 5.30%

Theoretical Best

Office A

$1.06M

$925.7K – $1.23M (±1% cap)

NOI $74,053 @ 7.0% cap · market cap 6.20%

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

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Locksmith Butcher Carpet & Flooring Store Auto Parts Store Tanning Salon (Bike/Boat/Book/etc) Store

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

4,494

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

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Four-unit residential project with permits in place and major building systems already installed.

Where is this quadplex located?

The property is located at 126 Danforth Street Portland, ME.

What is the asking price?

The asking price for this property is $1,195,000.

What are key features of this property?

This property features: Four units within a 3,849‑square‑foot building; Approximately 80% complete with permits in place; New plumbing, electrical, sprinkler system, windows, decks, insulation, and drywall