Mixed-Use Building with Roof
New
For Sale
$2,365,000
133 Free Street, Portland, ME 04101
Commercial Sale, 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
Commercial Sale
Property subtype
Other
Zoning
B-3
Rooms
Basement
Parking features
None
Basement
Unfinished, Full
Lot features
Downtown, Bus Line
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
Amenities
full kitchen
roof deck
Building Details
Year built
1900
Flooring type
Wood, Carpet, Tile
Building materials
Masonry, Brick
Roof type
Shingle
Listing Agency:
Town & Shore Real Estate
(207) 773-0262
Listed By:
Jeffrey Davis
(207) 233-9423
Added: Oct 21
Last Checked: Oct 21 at 11:06PM
MLS# 1677098
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 masonry building contains 7,969 square feet, including 4,141 square feet of retail space and eight residential apartments above. The retail area has a full kitchen and a 1,490-square-foot roof deck. An unfinished 766-square-foot attic provides additional interior area. Built in 1900, the property has wood, carpet, and tile flooring, oil and steam heating, and public water and sewer.
The building is in Portland’s Arts District, across the street from the Portland Museum of Art expansion project. Zoned B-3, the property occupies a 0.09-acre lot. Parking is not provided.
The building is in Portland’s Arts District, across the street from the Portland Museum of Art expansion project. Zoned B-3, the property occupies a 0.09-acre lot. Parking is not provided.
Key Highlights
- 7,969‑square‑foot building with 4,141 square feet of retail space
- Eight residential apartments are fully leased
- Retail area includes a full kitchen and 1,490‑square‑foot roof deck
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
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
6,135
Businesses Nearby
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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 - Retail space with a full kitchen is paired with eight leased apartments and an unfinished attic.
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 building with 4,141 square feet of retail space; Eight residential apartments are fully leased; Retail area includes a full kitchen and 1,490‑square‑foot roof deck
