Mixed-Use Colonial with Ground-Floor
157 Veranda 6 Fayette Street, Portland, ME 04103
For Sale
$564,950
B-1B zoning supports a range of listed commercial and residential uses, including live-work, offices, retail, and multifamily.
Property Size2,122 SF
Lot Size0.24 Acres
Price / SF$266.23
Days on Market1140
Property Features for 157 Veranda 6 Fayette Street
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Site & Location
Corner Location
Utilities to Site
Mixed-Use Components
Taxes and HOA fees
Annual Taxes
Amenities
off-street parking
enclosed yard
high-speed internet
security system
Building Details
Building Size
Year Built
Buildings
Construction
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Marc Fishman · License ME BA901721
(207) 775-6561
Source:
Integrityhomesrealestategroup
Added: Sep 29, 2023
Changed: Nov 11
Last Checked: Nov 11 at 2:14AM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This Colonial-style mixed-use property pairs three bedrooms and two bathrooms with approximately 884 SF of ground-floor office space. The residence can be reconfigured from three bedrooms to five. Heating includes a four-zone, 44,000 BTU Mitsubishi heat pump alongside natural-gas forced-hot-water baseboard heat; a five-zone, 44,000 BTU Mitsubishi heat pump provides central AC. A 24,000-watt natural-gas Kohler generator serves the property with automatic cutover.
The 0.24-acre parcel includes 10,480 sq. ft. of land, 10 off-street parking spaces, and a fenced, enclosed yard measuring approximately 1,700 sq. ft. The property has dual indoor and outdoor water meters, CAT-5 wiring, and a security system. B-1B zoning lists retail, two-family and multifamily residential, live-work, preschool, assembly, and general office uses.
The 0.24-acre parcel includes 10,480 sq. ft. of land, 10 off-street parking spaces, and a fenced, enclosed yard measuring approximately 1,700 sq. ft. The property has dual indoor and outdoor water meters, CAT-5 wiring, and a security system. B-1B zoning lists retail, two-family and multifamily residential, live-work, preschool, assembly, and general office uses.
Key Highlights
- B‑1B zoning lists retail, residential, live‑work, preschool, assembly, and general office uses
- Three‑bedroom, two‑bathroom residence with approximately 884 SF of ground‑floor offices
- 0.24 Acre (10,480 sq. ft.) parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,379
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$607,580
$607.6K
Cap Rate 7%
$433,986
$434.0K
Cap Rate 9%
$337,544
$337.5K
Market Conditions
NOI Build-Up for 2,122 SF
Gross rent
$46.3K $21.84/SF
− Vacancy
−$5.8K −$2.75/SF
EGI
$40.5K $19.09/SF
− OpEx
−$10.1K −$4.77/SF
NOI
$30.4K $14.32/SF
Area
Cumberland County, ME
Vacancy
12.60%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$607,580
Cap Rate 7%
$433,986
Cap Rate 9%
$337,544
Alternative Uses
Best Use
Office B
$434.0K
$379.7K – $506.3K
NOI $30,379 @ 7.0% cap · market cap 5.38%
Second Best
Mixed Use
$376.5K
$329.4K – $439.3K
NOI $26,355 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$583.2K
$510.3K – $680.4K
NOI $40,826 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
276
Businesses Nearby
Explore this area
Business Placement
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
Properties on Market for Mixed-use properties in Portland
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - B-1B zoning supports a range of listed commercial and residential uses, including live-work, offices, retail, and multifamily.
Where is this mixed-use property located?
The property is located at 157 Veranda 6 Fayette Street Portland, ME.
What is the asking price?
The asking price for this property is $564,950.
What are key features of this property?
This property features: B‑1B zoning lists retail, residential, live‑work, preschool, assembly, and general office uses; Three‑bedroom, two‑bathroom residence with approximately 884 SF of ground‑floor offices; 0.24 Acre (10,480 sq. ft.) parcel
