Five-Unit Multifamily
For Sale
$1,319,000
146 Sherman Street, Portland, ME 04101
COMMERCIAL - Portland, ME
Property Size5,650 SF
Lot Size0.10 Acres
Price / SF$233.45
Days on Market45
Property Features for 146 Sherman Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R6
Rooms
Basement
Parking features
Off Street
Basement
Full, Unfinished
Lot features
Near Shopping
Standard status
Active
Size
5,650 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
12664
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Natural Gas, Baseboard, Zoned, Hot Water(Heating)
Water source
Public
Building Details
Year built
1910
Flooring type
Vinyl, Carpet, Wood
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Christopher St.Pierre
(207) 650-6749
Added: Jun 23
Changed: Aug 4
Last Checked: Aug 6 at 10:06AM
MLS# 1668100
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.
Five-unit multifamily building on a 0.1-acre lot with a 5,650 SF footprint. The property was built in 1910 and features wood-frame construction with vinyl siding and a shingle roof. Interior finishes include carpet, vinyl, and wood flooring, with heating provided by natural gas hot water systems and baseboard components, including zoned heating.
The current unit configuration is four 2-bedroom units and two 1-bedroom units. The owner initiated a process to legalize an additional sixth unit, including a fire escape addition, but was unable to resolve the matter with the city. A city safety inspection resulted in the third-floor area being divided into two two-bedroom units rather than one combined four-bedroom unit.
Utilities include public water and public sewer. Parking is off-street. The property is located at 146 Sherman Street in Portland, ME 04101, minutes from Downtown Portland, Maine Medical Center, restaurants and shops, and public transportation.
The current unit configuration is four 2-bedroom units and two 1-bedroom units. The owner initiated a process to legalize an additional sixth unit, including a fire escape addition, but was unable to resolve the matter with the city. A city safety inspection resulted in the third-floor area being divided into two two-bedroom units rather than one combined four-bedroom unit.
Utilities include public water and public sewer. Parking is off-street. The property is located at 146 Sherman Street in Portland, ME 04101, minutes from Downtown Portland, Maine Medical Center, restaurants and shops, and public transportation.
Key Highlights
- R6 zoned five‑unit multifamily with off‑street parking
- Unit mix: four 2‑bedroom units and two 1‑bedroom units
- 0.1‑acre lot with 5,650 SF building size
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $179.7k | $31.80 |
| − Vacancy | −$10.8k | −$1.91 |
| EGI | $168.9k | $29.89 |
| − OpEx | −$76.0k | −$13.45 |
| NOI | $92.9k | $16.44 |
5,650 SF · lease $31.80/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $92,889 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,703 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - R6 zoned five-unit multifamily with off-street parking and natural gas hot water heating.
Where is this multifamily property located?
The property is located at 146 Sherman Street Portland, ME.
What is the asking price?
The asking price for this property is $1,319,000.
What are key features of this property?
This property features: R6 zoned five‑unit multifamily with off‑street parking; Unit mix: four 2‑bedroom units and two 1‑bedroom units; 0.1‑acre lot with 5,650 SF building size
