Four-Unit Residential
For Sale
$949,000
142 Sherman Street, Portland, ME 04101
An 1889 building with four residential units offers an established multifamily configuration.
Property Size3,578 SF
Price / SF$265.23
Days on Market149
Property Features for 142 Sherman Street
General Information
Standard status
Active
Size
3,578 SF
Property subtype
MULTI_FAMILY
Occupancy
100%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,770
Building Details
Building Size
3,578 SF
Year Built
1889
Listing Agency:
The Dunham Group
Listed By:
Joseph Atwood
(207) 773-7100
Source:
Heathershieldsmaine
Added: May 11
Changed: Sep 29
Last Checked: Oct 5 at 10:04PM
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 The Dunham Group
Investment Insights
Based on property information with market context.
This 3,578-square-foot residential income property contains four units and dates to 1889. Interior spaces and major building systems have received updates over time, and the building is described as well maintained.
The property is at 142 Sherman Street in Portland, Maine, within the Parkside neighborhood. Downtown, the Peninsula, commuter routes, shops, restaurants, and services are described as minutes away or readily accessible on foot.
The property is at 142 Sherman Street in Portland, Maine, within the Parkside neighborhood. Downtown, the Peninsula, commuter routes, shops, restaurants, and services are described as minutes away or readily accessible on foot.
Key Highlights
- Four residential units
- 3,578 square feet
- Built in 1889
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,229
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,264,580
$1.3M
Cap Rate 7%
$903,271
$903.3K
Cap Rate 9%
$702,544
$702.5K
Market Conditions
NOI Build-Up for 3,578 SF
Gross rent
$96.6K $27.00/SF
− Vacancy
−$6.3K −$1.76/SF
EGI
$90.3K $25.25/SF
− OpEx
−$27.1K −$7.57/SF
NOI
$63.2K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,264,580
Cap Rate 7%
$903,271
Cap Rate 9%
$702,544
Alternative Uses
Best Use
Multifamily LT 5
$903.3K
$790.4K – $1.05M
NOI $63,229 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$840.3K
$735.3K – $980.4K
NOI $58,824 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$983.4K
$860.5K – $1.15M
NOI $68,839 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,904
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?
Quadplex - An 1889 building with four residential units offers an established multifamily configuration.
Where is this quadplex located?
The property is located at 142 Sherman Street Portland, ME.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Four residential units; 3,578 square feet; Built in 1889
