Arts District Office
16 Casco St Portland, ME 04101
For Sale
Contact for pricing
Three-story office building with a full-height basement and a 20-car parking lot.
Property Size11,400 SF
Price / SF$258.77
Days on Market1283
Property Features for 16 Casco St
General Information
Standard status
Active
Size
11,400 SF
Property subtype
EXECUTIVE_SUITES
Listing Agency:
CORE
(207) 484-8258
Listed By:
Andre Rossignol
(207) 484-8258
Source:
Moodyscre
Added: Jan 23, 2023
Changed: Jul 26
Last Checked: Jul 28 at 3:56PM
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 CORE
Investment Insights
Based on property information with market context.
This three-story office building includes a full-height basement. The structure features high ceilings and massive windows, and it was originally designed by John Calvin Stevens.
The property is located in Portland’s Arts District and is served by an on-site 20-car parking lot.
As an office asset with substantial natural light from large window openings and generous vertical ceiling height, the building supports a variety of office occupancy layouts.
The property is located in Portland’s Arts District and is served by an on-site 20-car parking lot.
As an office asset with substantial natural light from large window openings and generous vertical ceiling height, the building supports a variety of office occupancy layouts.
Key Highlights
- 3‑story office building with a full‑height basement in Portland’s Arts District
- Designed by John Calvin Stevens
- High ceilings and massive windows
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 | $249.0k | $21.84 |
| − Vacancy | −$31.4k | −$2.75 |
| EGI | $217.6k | $19.09 |
| − OpEx | −$54.4k | −$4.77 |
| NOI | $163.2k | $14.32 |
11,400 SF · lease $21.84/SF/yr · vacancy 12.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.33M
$2.04M – $2.72M
NOI $163,204 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.13M
$2.74M – $3.66M
NOI $219,331 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Three-story office building with a full-height basement and a 20-car parking lot.
Where is this office building located?
The property is located at 16 Casco St Portland, ME.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 3‑story office building with a full‑height basement in Portland’s Arts District; Designed by John Calvin Stevens; High ceilings and massive windows
