Wood-Frame Apartment
For Sale
$1,319,000
146 Sherman Street, Portland, ME 04101
Commercial Sale, Portland, ME
Property Size5,650 SF
Lot Size0.10 Acres
Price / SF$233.45
Days on Market113
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
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
12664
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Other (Heating), Zoned, Natural Gas, Baseboard
Water source
Public
Building Details
Year built
1910
Flooring type
Wood, Carpet, Vinyl
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: Jul 13
Changed: Oct 27
Last Checked: Nov 2 at 11:06AM
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 5,650-square-foot multifamily building occupies a 0.1-acre lot in Portland. Constructed in 1910, the property has wood-frame construction with vinyl siding, a shingle roof, and a basement. Interior finishes include carpet, wood, and vinyl flooring. Heating is provided by natural gas through hot water, baseboard, and zoned systems.
The property is located at 146 Sherman Street in Portland’s West End, with access to off-street parking. Public water and public sewer serve the building. The R6 zoning designation and existing multifamily configuration support continued residential income-property use, subject to applicable municipal requirements.
The property is located at 146 Sherman Street in Portland’s West End, with access to off-street parking. Public water and public sewer serve the building. The R6 zoning designation and existing multifamily configuration support continued residential income-property use, subject to applicable municipal requirements.
Key Highlights
- 5,650‑square‑foot multifamily building on a 0.1‑acre lot
- R6 zoning designation
- Built in 1910 with wood‑frame construction and vinyl siding
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Wood-frame multifamily property with off-street parking and public water and sewer.
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 building on a 0.1‑acre lot; R6 zoning designation; Built in 1910 with wood‑frame construction and vinyl siding
