Partially Completed
For Sale
$1,595,000
126 Danforth Street, Portland, ME 04101
Four-unit residential project with permits in place and major building systems already installed.
Property Size3,849 SF
Price / SF$414.39
Days on Market147
Property Features for 126 Danforth Street
General Information
Standard status
Active
Size
3,849 SF
Property subtype
Multi-Family
Zoning
RN-4
Taxes and HOA fees
Annual Taxes
$14,008
Amenities
Heat Pump
Heat Pump, Baseboard
2
Finished, Full, Walk-Out Access
Wood, Tile, Other
3
1st Floor Bedroom, Laundry - Hookup, Shower, Sprinkler
Yes
Washer Hookup
1st Floor Bedroom, Shower
Stone, Brick/Mortar
6.00
8
4.40
Shingle
Exterior Only
No Vehicle Storage
Brick, Masonry, Wood Frame
Deck
Building Details
Year Built
1900
Units
4
Listing Agency:
Town & Shore Real Estate
(207) 233-9423
Listed By:
Jeffrey Davis · License #901562
(207) 233-9423
Source:
Compass
Added: Apr 7
Changed: Aug 31
Last Checked: Aug 31 at 12:41AM
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
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$68,018
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,360,360
$1.4M
Cap Rate 7%
$971,686
$971.7K
Cap Rate 9%
$755,756
$755.8K
Market Conditions
NOI Build-Up for 3,849 SF
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $68,018 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$904.0K
$791.0K – $1.05M
NOI $63,280 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$1.06M
$925.7K – $1.23M
NOI $74,053 @ 7.0% cap · market cap 4.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 $1,595,000.
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
