Mixed-Use Building with Roof
For Sale
$2,465,000
133 Free Street, Portland, ME 04101
Restaurant-oriented retail space with a full kitchen occupies the lower level beneath eight leased apartments.
Property Size7,969 SF
Price / SF$309.32
Days on Market57
Property Features for 133 Free Street
General Information
Standard status
Active
Size
7,969 SF
Property subtype
Multi Family
Additional Details
Business Included
Yes
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$23,168
Amenities
full kitchen
roof deck
Building Details
Building Size
7,969 SF
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
Town & Shore Real Estate
Listed By:
Jeffrey Davis · License #901562
(207) 233-9423
Source:
Heathershieldsmaine
Added: Aug 20
Changed: Oct 11
Last Checked: Oct 13 at 1:48AM
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.
Built in 1900, this 7,969 SF mixed-use property combines 4,141 SF of retail space with eight residential apartments. The commercial portion is configured as Mathew’s Pub and includes a full kitchen plus a 1,490 SF roof deck. The sale may also include the established business. An unfinished 766 SF attic provides additional interior area within the structure.
The property is located at 133 Free Street in Portland’s Arts District, directly across from the Portland Museum of Art’s expansion project. Its combination of commercial space, residential occupancy, roof-deck area, and unfinished attic space creates a varied mixed-use configuration.
The property is located at 133 Free Street in Portland’s Arts District, directly across from the Portland Museum of Art’s expansion project. Its combination of commercial space, residential occupancy, roof-deck area, and unfinished attic space creates a varied mixed-use configuration.
Key Highlights
- 7,969 SF mixed‑use building constructed in 1900
- 4,141 SF retail area with full kitchen
- 1,490 SF roof deck serving the commercial space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$131,015
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,620,300
$2.6M
Cap Rate 7%
$1,871,643
$1.9M
Cap Rate 9%
$1,455,722
$1.5M
Market Conditions
NOI Build-Up for 7,969 SF
Gross rent
$253.4K $31.80/SF
− Vacancy
−$15.2K −$1.91/SF
EGI
$238.2K $29.89/SF
− OpEx
−$107.2K −$13.45/SF
NOI
$131.0K $16.44/SF
Area
Cumberland County, ME
Vacancy
6.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,620,300
Cap Rate 7%
$1,871,643
Cap Rate 9%
$1,455,722
Alternative Uses
Best Use
Apartment 5plus
$1.87M
$1.64M – $2.18M
NOI $131,015 @ 7.0% cap · market cap 5.32%
Second Best
Mixed Use
$1.41M
$1.24M – $1.65M
NOI $98,975 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$2.19M
$1.92M – $2.56M
NOI $153,320 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
6,135
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant-oriented retail space with a full kitchen occupies the lower level beneath eight leased apartments.
Where is this mixed-use property located?
The property is located at 133 Free Street Portland, ME.
What is the asking price?
The asking price for this property is $2,465,000.
What are key features of this property?
This property features: 7,969 SF mixed‑use building constructed in 1900; 4,141 SF retail area with full kitchen; 1,490 SF roof deck serving the commercial space
