Mixed-Use Building with
New
For Sale
$2,365,000
133 Free Street, Portland, ME 04101
Multi-Family, Portland, ME
Property Size7,969 SF
Lot Size0.09 Acres
Price / SF$296.78
Days on Market1
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 4, Bathroom 7, Bathroom 8, Basement, Bathroom 5, Bathroom 1, Bathroom 2, Bathroom 6, Bathroom 3
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
Oil, Steam
Water source
Public
Building Details
Year built
1900
Floors in Building
3
Number of units
8
Flooring type
Vinyl, Carpet, Tile
Building materials
Masonry, Brick
Roof type
Shingle
Architectural style
Other
Listing Agency:
Town & Shore Real Estate
(207) 773-0262
Listed By:
Jeffrey Davis
(207) 233-9423
Added: Oct 21
Last Checked: Oct 21 at 10:06PM
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.
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Investment Insights
Based on property information with market context.
At 133 Free Street, this 7,969-square-foot masonry building combines retail space with eight leased apartments. The 4,141-square-foot commercial area includes a full kitchen and a 1,490-square-foot roof deck; the space is currently occupied by Mathew's Pub. An unfinished 766-square-foot attic adds another area within the building. The property sits on 0.09 acres and was built in 1900.
The building is in Portland's Arts District, across the street from the Portland Museum of Art expansion project. It is zoned B-3 and has public water and sewer service.
The building is in Portland's Arts District, across the street from the Portland Museum of Art expansion project. It is zoned B-3 and has public water and sewer service.
Key Highlights
- 7,969‑square‑foot mixed‑use building on 0.09 acres
- Eight leased residential apartments above ground‑floor retail
- 4,141 square feet of retail space with a full kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$131,015
Cap Rate
5.54%
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 5.54%
Second Best
Mixed Use
$1.41M
$1.24M – $1.65M
NOI $98,975 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$2.19M
$1.92M – $2.56M
NOI $153,320 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
8
Residential units
100%
Occupancy
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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - B-3 zoning accompanies a ground-floor retail space and residential units 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 $2,365,000.
What are key features of this property?
This property features: 7,969‑square‑foot mixed‑use building on 0.09 acres; Eight leased residential apartments above ground‑floor retail; 4,141 square feet of retail space with a full kitchen
