Portland West End Redevelopment
181 Brackett Street Portland, ME
For Sale
Contact for pricing
Redevelopment opportunity in Portland's West End with retail visibility.
Property Size13,020 SF
Lot Size0.16 Acres
Price / SF$144.01
Days on Market414
Property Features for 181 Brackett Street
General Information
Standard status
Active
Size
13,020 SF
Lot size
0.16 Acres
Property subtype
MULTIFAMILY
Listing Agency:
The Boulos Company
(207) 553-1732
Listed By:
Claire Richardson
(207) 553-1732
Source:
Moodyscre
Added: Jun 11, 2025
Changed: Jul 6
Last Checked: Jul 28 at 7:01AM
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 Boulos Company
Investment Insights
Based on property information with market context.
This 13,020 square foot building in Portland’s West End presents a redevelopment opportunity. The property features a brick exterior, retail visibility, and high ceilings. Recent capital improvements include a new roof, windows, and facade upgrades. Plans are in place for 9 residential units and 1 commercial unit. The building was formerly an office building.
Key Highlights
- Excellent redevelopment opportunity in Portland’s West End.
- Plans in place for 9 residential units and 1 commercial unit.
- 13,020+/- SF building.
Financial Insights For Retail
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 | $234.4k | $18.00 |
| − Vacancy | −$39.8k | −$3.06 |
| EGI | $194.5k | $14.94 |
| − OpEx | −$58.4k | −$4.48 |
| NOI | $136.2k | $10.46 |
13,020 SF · lease $18.00/SF/yr · vacancy 17.00% · expense 30.00%
Alternative Uses
Best Use
Apartment 5plus
$3.06M
$2.68M – $3.57M
NOI $214,057 @ 7.0% cap · market cap 11.42%
Second Best
Retail
$1.95M
$1.70M – $2.27M
NOI $136,163 @ 7.0% cap · market cap 7.26%
Theoretical Best
Office A
$3.58M
$3.13M – $4.17M
NOI $250,499 @ 7.0% cap · market cap 13.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Redevelopment opportunity in Portland's West End with retail visibility.
Where is this apartment building located?
The property is located at 181 Brackett Street Portland, ME.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: Excellent redevelopment opportunity in Portland’s West End.; Plans in place for **9 residential units and 1 commercial unit**.; 13,020+/- SF building.
