Freestanding Two-Space
For Sale
$1,360,000
211 Danforth Street, Portland, ME 04102
B1-zoned commercial building with two built-out retail spaces in Portland’s West End.
Property Size5,456 SF
Days on Market1027
Property Features for 211 Danforth Street
General Information
Standard status
Active
Size
5,456 SF
Property subtype
Commercial
Zoning
B1
Taxes and HOA fees
Annual Taxes
$8,117
Building Details
Building Size
5,456 SF
Year Built
1915
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Realty
(207) 332-1513
Listed By:
James Rathband
(207) 332-1513
Source:
Startpoint
Added: Oct 31, 2023
Changed: Aug 17
Last Checked: Aug 22 at 2:11PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Built in 1915, this freestanding commercial building at 211 Danforth Street contains two fully finished retail spaces. The property’s recent occupants included a restaurant and bar in one space and a bakery in the other, providing established build-out for retail-oriented operations.
The building is located in Portland’s West End and carries B1 zoning. Its two-space configuration offers separate commercial areas within one freestanding property, with existing improvements suited to a range of retail formats.
The building is located in Portland’s West End and carries B1 zoning. Its two-space configuration offers separate commercial areas within one freestanding property, with existing improvements suited to a range of retail formats.
Key Highlights
- Two fully built‑out retail spaces
- Freestanding commercial building
- Recent restaurant and bar occupancy in one 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
$61,134
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
4.50%
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%
$1,222,680
$1.2M
Cap Rate 7%
$873,343
$873.3K
Cap Rate 9%
$679,267
$679.3K
Market Conditions
NOI Build-Up for 5,456 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
$98.2K $18.00/SF
− Vacancy
−$16.7K −$3.06/SF
EGI
$81.5K $14.94/SF
− OpEx
−$20.4K −$3.74/SF
NOI
$61.1K $11.21/SF
Area
Cumberland County, ME
Vacancy
17.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,222,680
Cap Rate 7%
$873,343
Cap Rate 9%
$679,267
Alternative Uses
Best Use
Specialty Retail
$873.3K
$764.2K – $1.02M
NOI $61,134 @ 7.0% cap · market cap 4.50%
Second Best
Retail
$815.1K
$713.2K – $951.0K
NOI $57,059 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,971 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,066
Businesses Nearby
29k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 94%
Home Improvements & Furnishings 6%
Circle K
Shops & Services
12,170 visits/mo
0.4 miles
7-Eleven
Shops & Services
10,061 visits/mo
0.4 miles
Cumberland Farms
Shops & Services
5,289 visits/mo
0.3 miles
Graybar
Home Improvements & Furnishings
1,619 visits/mo
0.2 miles
Demographics for 04102, ME
18,002
Population
8,633
Households
2.1
Avg Household Size
38
Median Age
62%
College-Educated
96%
High-School Grad
6.0 sq mi
ZIP Area
3,000
Density / Sq Mi
$79,631
Median Household Income
$47,898
Median Earnings
$1,435
Median Rent
$464,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - B1-zoned commercial building with two built-out retail spaces in Portland’s West End.
Where is this storefront property located?
The property is located at 211 Danforth Street Portland, ME.
What is the asking price?
The asking price for this property is $1,360,000.
What are key features of this property?
This property features: Two fully built‑out retail spaces; Freestanding commercial building; Recent restaurant and bar occupancy in one space
