Mixed-Use Building With Roof
For Sale
$2,465,000
133 Free Street, Portland, ME 04101
Multi-Family, Portland, ME
Property Size7,969 SF
Lot Size0.09 Acres
Price / SF$309.32
Days on Market48
Property Features for 133 Free Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
B-3
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 3, Bathroom 8, Bathroom 4, Bathroom 1, Basement, Bathroom 2, Bathroom 5, Bathroom 6, Bathroom 7
Parking features
None
Interior features
Shower
Basement
Full
Lot features
Sidewalks, Intown, Near Shopping, Near Public Transit
Standard status
Active
Size
7,969 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
23168
Utilities
Sewer type
Public Sewer
Heating system
Steam, Oil
Water source
Public
Amenities
roof deck
Building Details
Year built
1900
Floors in Building
3
Number of units
8
Flooring type
Carpet, Tile, Vinyl
Building materials
Masonry, Brick
Roof type
Shingle
Architectural style
Other
Listing Agency:
Town & Shore Real Estate
(207) 773-0262
Listed By:
Jeffrey Davis · License #901562
(207) 233-9423
Added: Aug 20
Changed: Sep 21
Last Checked: Oct 5 at 11:06PM
MLS# 1677089
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 7,969-square-foot mixed-use building, constructed in 1900, combines a 4,141-square-foot retail area with eight residential apartments. The commercial space includes a full kitchen and a 1,490-square-foot roof deck, while an additional 766-square-foot attic area remains unfinished. Masonry and brick construction, tile, vinyl, and carpet flooring, and steam heating are among the existing building features. The property is zoned B-3 and includes a basement, multiple bathrooms, public water, and public sewer.
The building is located at 133 Free Street in Portland’s Arts District, directly across from the Portland Museum of Art expansion project. The retail area is currently occupied by Mathew’s Pub, and the sale may include the business establishment. All eight residential apartments are fully leased. The site encompasses 0.09 acres and has no on-site parking.
The building is located at 133 Free Street in Portland’s Arts District, directly across from the Portland Museum of Art expansion project. The retail area is currently occupied by Mathew’s Pub, and the sale may include the business establishment. All eight residential apartments are fully leased. The site encompasses 0.09 acres and has no on-site parking.
Key Highlights
- 7,969 SF mixed‑use building on a 0.09‑acre site
- 4,141 SF retail area with full kitchen and 1,490 SF roof deck
- 8 fully leased residential apartments above the retail 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.
Property Analytics
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Current Use
Lease Details
8
Residential units
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 - Combined retail and residential property with a full kitchen, roof deck, and leased apartments above.
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 on a 0.09‑acre site; 4,141 SF retail area with full kitchen and 1,490 SF roof deck; 8 fully leased residential apartments above the retail space
