7-Unit Mixed-Use Apartment
For Sale
$549,900
168 Main Street, Winthrop, ME 04364
Two-building property offering four residential units plus three office rental units within a downtown setting.
Days on Market396
Property Features for 168 Main Street
General Information
Standard status
Active
Property subtype
Commercial
Units
Multifamily Units
4
Office Units
3
Building Details
Building Size
4,244 SF
Year Built
1850
Buildings
2
Tenancy
Multi
Listing Agency:
Sprague & Curtis Real Estate
(207) 623-1123
Listed By:
Earle Kenney
(207) 623-1123
Source:
Startpoint
Added: Jun 30, 2025
Changed: Jul 30
Last Checked: Jul 30 at 2:34AM
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 Sprague & Curtis Real Estate
Investment Insights
Based on property information with market context.
168 Main Street and 18 Hanson Street are being sold together as a single mixed-use rental property. 168 Main Street totals 4,244 SF +/- and includes two apartments plus three office rental units. 18 Hanson Street totals 2,958 SF +/- and is a well-maintained two family with two 2-bedroom apartments.
Across both buildings, there are 7 rental units in total, comprised of 3 commercial office spaces and 4 residential units. The property is located in Winthrop’s downtown.
Built in 1850, this is a compact, multi-tenant setup designed to support both residential and office tenants under one ownership structure.
Across both buildings, there are 7 rental units in total, comprised of 3 commercial office spaces and 4 residential units. The property is located in Winthrop’s downtown.
Built in 1850, this is a compact, multi-tenant setup designed to support both residential and office tenants under one ownership structure.
Key Highlights
- Sold together: 168 Main Street (4,244 SF +/-) and 18 Hanson Street (2,958 SF +/-)
- 7 total rental units: 3 office rental units and 4 residential units
- 168 Main Street offers two apartments plus 3 office rental units
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $76.4k | $18.00 |
| − Vacancy | −$1.2k | −$0.29 |
| EGI | $75.2k | $17.71 |
| − OpEx | −$33.8k | −$7.97 |
| NOI | $41.3k | $9.74 |
4,244 SF · lease $18.00/SF/yr · vacancy 1.60% · expense 45.00%
Alternative Uses
Best Use
Office B
$857.1K
$749.9K – $999.9K
NOI $59,994 @ 7.0% cap · market cap 10.91%
Second Best
Apartment 5plus
$590.6K
$516.8K – $689.1K
NOI $41,343 @ 7.0% cap · market cap 7.52%
Theoretical Best
Warehouse
$6.33M
$5.54M – $7.39M
NOI $443,215 @ 7.0% cap · market cap 80.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Office units
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
306
Businesses Nearby
Explore this area
Business Placement
Demographics for 04364, ME
6,115
Population
3,342
Households
1.8
Avg Household Size
47
Median Age
37%
College-Educated
98%
High-School Grad
31.1 sq mi
ZIP Area
197
Density / Sq Mi
$82,858
Median Household Income
$44,602
Median Earnings
$1,031
Median Rent
$273,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-building property offering four residential units plus three office rental units within a downtown setting.
Where is this apartment building located?
The property is located at 168 Main Street Winthrop, ME.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Sold together: 168 Main Street (4,244 SF +/-) and 18 Hanson Street (2,958 SF +/-); 7 total rental units: 3 office rental units and 4 residential units; 168 Main Street offers two apartments plus 3 office rental units
