Colonial Apartment
For Sale
$1,319,000
146 Sherman Street, Portland, ME 04101
Multi-Family, Portland, ME
Property Size5,650 SF
Lot Size0.10 Acres
Price / SF$233.45
Days on Market99
Property Features for 146 Sherman Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 5, Bathroom 6, Bathroom 2, Bathroom 1, Bathroom 3, Bathroom 4, Basement
Parking features
Off Street
Interior features
Bathtub, Shower
Basement
Full, Unfinished
Lot features
Rolling/ Sloping, Open, Corner Lot, Sidewalks, Near Shopping, Near Turnpike/ Interstate, Near Town, Near Railroad
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
Zoned, Baseboard, Natural Gas, Hot Water(Heating), Forced Air, Other (Heating)
Water source
Public
Building Details
Year built
1910
Number of units
5
Flooring type
Wood, Carpet, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Colonial
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Christopher St.Pierre
(207) 650-6749
Added: Jul 13
Changed: Oct 8
Last Checked: Oct 19 at 11:06AM
MLS# 1668085
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.
Built in 1910, this 5,650-square-foot multifamily property occupies a 0.1-acre parcel and features a Colonial architectural style, wood-frame construction, and vinyl siding. Interior finishes include carpet, wood, and vinyl flooring, while heating is provided through natural gas systems including forced air, hot water, baseboard, and zoned components. The property also includes a basement and off-street parking.
Located at 146 Sherman Street in Portland, the property is within minutes of Downtown Portland, Maine Medical Center, restaurants, shops, and public transportation. Public water and public sewer serve the site, and the property is zoned R6. A city safety inspection was completed, with the third floor configured as two separate two-bedroom units rather than one combined four-bedroom unit.
Located at 146 Sherman Street in Portland, the property is within minutes of Downtown Portland, Maine Medical Center, restaurants, shops, and public transportation. Public water and public sewer serve the site, and the property is zoned R6. A city safety inspection was completed, with the third floor configured as two separate two-bedroom units rather than one combined four-bedroom unit.
Key Highlights
- 5,650‑square‑foot multifamily property on a 0.1‑acre parcel
- R6 zoning with public water and public sewer
- Built in 1910 with Colonial architecture and wood‑frame construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,889
Cap Rate
7.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,857,780
$1.9M
Cap Rate 7%
$1,326,986
$1.3M
Cap Rate 9%
$1,032,100
$1.0M
Market Conditions
NOI Build-Up for 5,650 SF
Gross rent
$179.7K $31.80/SF
− Vacancy
−$10.8K −$1.91/SF
EGI
$168.9K $29.89/SF
− OpEx
−$76.0K −$13.45/SF
NOI
$92.9K $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%
$1,857,780
Cap Rate 7%
$1,326,986
Cap Rate 9%
$1,032,100
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.
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Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Wood-frame multifamily property with public utilities, off-street parking, and a flexible mix of interior finishes.
Where is this apartment building 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: 5,650‑square‑foot multifamily property on a 0.1‑acre parcel; R6 zoning with public water and public sewer; Built in 1910 with Colonial architecture and wood‑frame construction
