Three-Unit Property with Private
For Sale
$950,000
19-21 Linden Street, Portland, ME 04103
Multifamily property with separate utilities and dedicated off-street parking for every residence.
Property Size2,982 SF
Price / SF$318.58
Days on Market23
Property Features for 19-21 Linden Street
General Information
Standard status
Active
Size
2,982 SF
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Multifamily Units
3
Amenities
private laundry
off-street parking
Building Details
Year Built
1900
Listing Agency:
Portside Real Estate Group
Listed By:
Peter Blake
(603) 866-2942
Source:
Profoundrealestate
Added: Aug 6
Changed: Aug 28
Last Checked: Aug 26 at 10:20AM
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 Portside Real Estate Group
Investment Insights
Based on property information with market context.
This three-unit multifamily property contains 2,982 square feet and was built in 1900. Each residence includes private laundry, separately metered electricity, natural gas service, and off-street parking. The configuration supports distinct household occupancy within one income-producing property.
Located at 19-21 Linden Street in Portland, the property is approximately 0.75 miles from I-295 and about 1.5 miles from Portland’s Old Port. Woodford's Corner is nearby, with restaurants, shops, cafes, and neighborhood amenities. Trails and recreational areas along Back Cove add further nearby access to outdoor activity.
Located at 19-21 Linden Street in Portland, the property is approximately 0.75 miles from I-295 and about 1.5 miles from Portland’s Old Port. Woodford's Corner is nearby, with restaurants, shops, cafes, and neighborhood amenities. Trails and recreational areas along Back Cove add further nearby access to outdoor activity.
Key Highlights
- Three‑unit multifamily property with 2,982 square feet
- Built in 1900
- Private laundry, separate electricity, and natural gas for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,696
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,053,920
$1.1M
Cap Rate 7%
$752,800
$752.8K
Cap Rate 9%
$585,511
$585.5K
Market Conditions
NOI Build-Up for 2,982 SF
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.
Gross rent
$80.5K $27.00/SF
− Vacancy
−$5.2K −$1.76/SF
EGI
$75.3K $25.25/SF
− OpEx
−$22.6K −$7.57/SF
NOI
$52.7K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,053,920
Cap Rate 7%
$752,800
Cap Rate 9%
$585,511
Alternative Uses
Best Use
Multifamily LT 5
$752.8K
$658.7K – $878.3K
NOI $52,696 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$700.4K
$612.8K – $817.1K
NOI $49,026 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$819.6K
$717.2K – $956.2K
NOI $57,372 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,099
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
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Multifamily property with separate utilities and dedicated off-street parking for every residence.
Where is this triplex located?
The property is located at 19-21 Linden Street Portland, ME.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 2,982 square feet; Built in 1900; Private laundry, separate electricity, and natural gas for each unit
