156 Woodford Street, Portland, ME 04103

Building Details

Building Size 6,228 SF More

Year Built 1900 More

Buildings 1 More

Listing Agency: King + Miller Real Estate j***@kingmillerrealestate.com

Listed By: Bridget King Jason Miller Show Phone

Source: Integrityhomesrealestategroup

Added: Oct 3, 2023 Changed: Nov 11 Last Checked: Nov 11 at 2:06AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

The Portland property includes a 6,228-square-foot building on a 6,464-square-foot lot. Constructed in 1900, it is zoned B2B, with the source describing potential for a combination of commercial and residential uses.

The property is at 156 Woodford Street in Portland’s Woodfords Corner.

Key Highlights

• 6,228‑square‑foot building on a 6,464‑square‑foot lot
• B2B zoning
• Built in 1900

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$65,132

Cap Rate

8.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,302,640 $1.3M

Cap Rate 7%

$930,457 $930.5K

Cap Rate 9%

$723,689 $723.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,228 SF

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 Rate 5%

$1,302,640

Cap Rate 7%

$930,457

Cap Rate 9%

$723,689

Alternative Uses

Best Use

Mixed Use

$1.11M

$966.9K – $1.29M (±1% cap)

NOI $77,352 @ 7.0% cap · market cap 10.67%

Second Best

Retail

$930.5K

$814.2K – $1.09M (±1% cap)

NOI $65,132 @ 7.0% cap · market cap 8.98%

Theoretical Best

Office A

$1.71M

$1.50M – $2.00M (±1% cap)

NOI $119,824 @ 7.0% cap · market cap 16.53%

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

Current Use

Storefront properties

Suggested Use

Top Pick HVAC Service Building Supply Electrical Service Parking Lot & Garage Auto Parts Store Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,017

Businesses Nearby

14k

Monthly Visits Nearby

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

Average Price Trend$/SF for Mixed-use properties in Portland, ME

$213 Jul

$302 Aug

$361 Sep

$310 Oct

Properties on Market for Mixed-use properties in Portland

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - A 6,228-square-foot building in Portland carries B2B zoning and potential for commercial and residential use.

Where is this mixed-use 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: 6,228‑square‑foot building on a 6,464‑square‑foot lot; B2B zoning; Built in 1900