Mixed-Use Property with
For Sale
$655,000
321 Lincoln Street, South Portland, ME 04106
Two buildings combine renovated office space with a rented, multi-unit warehouse and a paved service area.
Property Size4,879 SF
Price / SF$134.25
Days on Market1006
Property Features for 321 Lincoln Street
General Information
Standard status
Active
Size
4,879 SF
Property subtype
Commercial
Zoning
Res A
Property Condition
Severity
Repairs Needed
Evidence
awaiting a few finishing touches
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Warehouse Space
2,916 SF
Office Build-Out
1,963 SF
Additional Details
Condition
Needs Renovation
Office Units
2
Tenant in Place
Yes
Property Use
Office/Warehouse
Taxes and HOA fees
Annual Taxes
$5,285
Building Details
Building Size
4,879 SF
Year Built
1933
Buildings
2
Stories
1
Tenancy
Multi
Listing Agency:
The Maine Real Estate Experience
(207) 345-2207
Listed By:
Lindsey Brann
(207) 441-9317
Source:
Amerorealty
Added: Jan 30, 2024
Changed: Oct 31
Last Checked: Oct 31 at 2:18PM
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 The Maine Real Estate Experience
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use property at 321 Lincoln Street includes two buildings totaling 4,879 square feet. The 1,963-square-foot office building is divided into two units and has a recently updated interior and a new HVAC system. A separate 2,916-square-foot warehouse and garage is configured as three rented units, each served by separate utilities. The site also has a paved service area used for parking and truck and delivery access.
The property is in South Portland, approximately three minutes from I-95 and 10 minutes from the Portland Jetport. It is zoned Res A and was built in 1933.
The property is in South Portland, approximately three minutes from I-95 and 10 minutes from the Portland Jetport. It is zoned Res A and was built in 1933.
Key Highlights
- 4,879 square feet across two buildings
- Office building: 1,963 square feet, divided into two units, with a new HVAC system
- Warehouse/garage: 2,916 total square feet, currently rented as three units with separate utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,911
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$758,220
$758.2K
Cap Rate 7%
$541,586
$541.6K
Cap Rate 9%
$421,233
$421.2K
Market Conditions
NOI Build-Up for 4,879 SF
Gross rent
$46.3K $9.48/SF
− Vacancy
−$1.7K −$0.34/SF
EGI
$44.6K $9.14/SF
− OpEx
−$6.7K −$1.37/SF
NOI
$37.9K $7.77/SF
Area
Cumberland County, ME
Vacancy
3.57%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$758,220
Cap Rate 7%
$541,586
Cap Rate 9%
$421,233
Alternative Uses
Best Use
Office B
$997.8K
$873.1K – $1.16M
NOI $69,848 @ 7.0% cap · market cap 10.66%
Second Best
Mixed Use
$865.7K
$757.5K – $1.01M
NOI $60,597 @ 7.0% cap · market cap 9.25%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,870 @ 7.0% cap · market cap 14.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
349
Businesses Nearby
Explore this area
Business Placement
Demographics for 04106, ME
26,641
Population
12,849
Households
2.1
Avg Household Size
41
Median Age
49%
College-Educated
95%
High-School Grad
12.2 sq mi
ZIP Area
2,184
Density / Sq Mi
$83,744
Median Household Income
$47,818
Median Earnings
$1,642
Median Rent
$403,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two buildings combine renovated office space with a rented, multi-unit warehouse and a paved service area.
Where is this mixed-use property located?
The property is located at 321 Lincoln Street South Portland, ME.
What is the asking price?
The asking price for this property is $655,000.
What are key features of this property?
This property features: 4,879 square feet across two buildings; Office building: 1,963 square feet, divided into two units, with a new HVAC system; Warehouse/garage: 2,916 total square feet, currently rented as three units with separate utilities
