Storefront Property with B2B
For Sale
$725,000
156 Woodford Street, Portland, ME 04103
Storefront property on a 6,464-square-foot lot with B2B zoning and over 6,000 square feet of floor space.
Property Size6,228 SF
Lot Size0.15 Acres
Days on Market1040
Property Features for 156 Woodford Street
General Information
Standard status
Active
Size
6,228 SF
Lot size
0.15 Acres
Property subtype
Commercial
Zoning
B2B
Building Details
Building Size
6,228 SF
Year Built
1900
Buildings
1
Listing Agency:
King + Miller Real Estate
(207) 805-3716
Listed By:
Bridget King Jason Miller
(207) 805-3716
Source:
Startpoint
Added: Oct 3, 2023
Changed: Jul 30
Last Checked: Aug 6 at 12:12PM
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 King + Miller Real Estate
Investment Insights
Based on property information with market context.
This storefront property sits on a 6,464 square foot lot and offers over 6,000 square feet of floor space. Built in 1900, the building provides a flexible base for commercial and residential concepts under B2B zoning.
The property is located at 156 Woodford Street in Portland, Maine. The offering also references that the site appears to meet the Active Street Frontage definition, where only 435 square feet of lot area is needed per dwelling unit.
For buyers and tenants looking for space that can support mixed-use planning, this configuration centers around the combination of lot size, substantial floor area, and B2B zoning.
The property is located at 156 Woodford Street in Portland, Maine. The offering also references that the site appears to meet the Active Street Frontage definition, where only 435 square feet of lot area is needed per dwelling unit.
For buyers and tenants looking for space that can support mixed-use planning, this configuration centers around the combination of lot size, substantial floor area, and B2B zoning.
Key Highlights
- 6,464 square foot lot with B2B zoning referenced for mixed‑use planning
- Over 6,000 square feet of floor space
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$65,132
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,302,640
$1.3M
Cap Rate 7%
$930,457
$930.5K
Cap Rate 9%
$723,689
$723.7K
Market Conditions
NOI Build-Up for 6,228 SF
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.
Gross rent
$112.1K $18.00/SF
− Vacancy
−$19.1K −$3.06/SF
EGI
$93.0K $14.94/SF
− OpEx
−$27.9K −$4.48/SF
NOI
$65.1K $10.46/SF
Area
Cumberland County, ME
Vacancy
17.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,302,640
Cap Rate 7%
$930,457
Cap Rate 9%
$723,689
Alternative Uses
Best Use
Retail
$930.5K
$814.2K – $1.09M
NOI $65,132 @ 7.0% cap · market cap 8.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,824 @ 7.0% cap · market cap 16.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,017
Businesses Nearby
14k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 70%
Dining 18%
Beauty & Spa 12%
Artist & Craftsman Supply
Shops & Services
5,242 visits/mo
0.1 miles
Mobil
Shops & Services
4,636 visits/mo
0.4 miles
Domino's Pizza
Dining
2,563 visits/mo
0.3 miles
Sun Tan City
Beauty & Spa
1,752 visits/mo
0.1 miles
Demographics for 04103, ME
31,185
Population
14,336
Households
2.2
Avg Household Size
40
Median Age
58%
College-Educated
97%
High-School Grad
10.2 sq mi
ZIP Area
3,057
Density / Sq Mi
$90,682
Median Household Income
$48,640
Median Earnings
$1,571
Median Rent
$421,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Storefront property on a 6,464-square-foot lot with B2B zoning and over 6,000 square feet of floor space.
Where is this storefront property located?
The property is located at 156 Woodford Street Portland, ME.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 6,464 square foot lot with B2B zoning referenced for mixed‑use planning; Over 6,000 square feet of floor space; Built in 1900
