Mixed-Use Building with Loading
For Sale
$525,000
34 Portland Street, Portland, ME 04101
Flexible commercial building with multiple levels, basement storage, rear loading access, and two on-site parking spaces.
Property Size3,458 SF
Price / SF$154.41
Days on Market1064
Property Features for 34 Portland Street
General Information
Standard status
Active
Size
3,458 SF
Total Parking Spaces
2
Property subtype
Commercial
Zoning
B2B
Site & Location
Corner Location
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$9,082
Amenities
back driveway for loading access
Building Details
Building Size
3,458 SF
Year Built
1936
Buildings
1
Stories
3
Listing Agency:
Malone Commercial Brokers, Inc.
(207) 772-2422
Listed By:
Michael Anderson
(207) 772-2422
Source:
Startpoint
Added: Sep 18, 2023
Changed: Aug 14
Last Checked: Aug 15 at 12:49PM
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 Malone Commercial Brokers, Inc.
Investment Insights
Based on property information with market context.
This 3,400± SF mixed-use building, constructed in 1936, offers two primary floors, a partial third story with windows, and a basement containing storage and flex space. The property is suited to retail, office, restaurant, general business, or adaptive reuse applications as supported by its existing configuration. A rear driveway provides loading access, and the site includes two parking spaces.
The building occupies the corner of Portland St and Alder St in Portland, Maine, with signage opportunities supported by its prominent corner position. Maine Oyster Company is immediately next door, and the property is near multiple Bayside development projects. The combination of varied interior levels, service access, and established commercial surroundings supports a range of owner-user and repositioning concepts.
The building occupies the corner of Portland St and Alder St in Portland, Maine, with signage opportunities supported by its prominent corner position. Maine Oyster Company is immediately next door, and the property is near multiple Bayside development projects. The combination of varied interior levels, service access, and established commercial surroundings supports a range of owner-user and repositioning concepts.
Key Highlights
- 3,400± SF mixed‑use building with retail, office, and adaptive reuse potential
- Two main floors plus a partial third story with windows
- Basement area provides storage and flex space
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
$42,228
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
8.04%
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%
$844,560
$844.6K
Cap Rate 7%
$603,257
$603.3K
Cap Rate 9%
$469,200
$469.2K
Market Conditions
NOI Build-Up for 3,400 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
$73.4K $21.60/SF
− Vacancy
−$5.9K −$1.73/SF
EGI
$67.6K $19.87/SF
− OpEx
−$25.3K −$7.45/SF
NOI
$42.2K $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 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%
$844,560
Cap Rate 7%
$603,257
Cap Rate 9%
$469,200
Alternative Uses
Best Use
Office B
$695.4K
$608.4K – $811.3K
NOI $48,675 @ 7.0% cap · market cap 9.27%
Second Best
Mixed Use
$603.3K
$527.9K – $703.8K
NOI $42,228 @ 7.0% cap · market cap 8.04%
Theoretical Best
Office A
$934.5K
$817.7K – $1.09M
NOI $65,414 @ 7.0% cap · market cap 12.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,466
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 Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial building with multiple levels, basement storage, rear loading access, and two on-site parking spaces.
Where is this mixed-use property located?
The property is located at 34 Portland Street Portland, ME.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 3,400± SF mixed‑use building with retail, office, and adaptive reuse potential; Two main floors plus a partial third story with windows; Basement area provides storage and flex space
