4-Unit Colonial Revival
For Sale
$1,475,000
19-21 Sherman St, Portland, ME 04101
Residents have access to shared basement laundry, tenant storage, off-street parking, and a shared garden and patio.
Property Size5,240 SF
Price / SF$281.49
Days on Market8
Property Features for 19-21 Sherman St
General Information
Standard status
Active
Size
5,240 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Amenities
shared basement laundry
tenant storage
shared private backyard gardens
patio
grilling area
Building Details
Year Built
1910
Construction
Colonial Revival
Listed By:
Kathy Gallant
(207) 841-7569
Source:
Gre207
Added: Oct 30
Changed: Nov 3
Last Checked: Nov 4 at 1:10PM
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 Kathy Gallant
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Investment Insights
Based on property information with market context.
Built in 1910, this four-unit Portland Peninsula property is a Colonial Revival building with Victorian details. The 5,240-square-foot property includes off-street parking for six vehicles, shared laundry in the basement, and storage for tenants. Recent major improvements and newly painted interiors are also noted.
Outdoor amenities include a shared private backyard with gardens, a patio, and a grilling area. The property is a short walk or ride from Portland’s business and arts district, the waterfront, restaurants, and hospitals.
Outdoor amenities include a shared private backyard with gardens, a patio, and a grilling area. The property is a short walk or ride from Portland’s business and arts district, the waterfront, restaurants, and hospitals.
Key Highlights
- Four‑unit property with 5,240 square feet
- Built in 1910 in the Colonial Revival style, with Victorian influences
- Off‑street parking for six vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,599
Cap Rate
6.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,851,980
$1.9M
Cap Rate 7%
$1,322,843
$1.3M
Cap Rate 9%
$1,028,878
$1.0M
Market Conditions
NOI Build-Up for 5,240 SF
Gross rent
$141.5K $27.00/SF
− Vacancy
−$9.2K −$1.76/SF
EGI
$132.3K $25.25/SF
− OpEx
−$39.7K −$7.57/SF
NOI
$92.6K $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 Rate 5%
$1,851,980
Cap Rate 7%
$1,322,843
Cap Rate 9%
$1,028,878
Alternative Uses
Best Use
Multifamily LT 5
$1.32M
$1.16M – $1.54M
NOI $92,599 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,149 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,815 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
5,153
Businesses Nearby
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Business Placement
Demographics for 04101, ME
18,109
Population
11,510
Households
1.6
Avg Household Size
36
Median Age
57%
College-Educated
93%
High-School Grad
2.0 sq mi
ZIP Area
9,055
Density / Sq Mi
$60,726
Median Household Income
$45,009
Median Earnings
$1,457
Median Rent
$600,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Residents have access to shared basement laundry, tenant storage, off-street parking, and a shared garden and patio.
Where is this quadplex located?
The property is located at 19-21 Sherman St Portland, ME.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Four‑unit property with 5,240 square feet; Built in 1910 in the Colonial Revival style, with Victorian influences; Off‑street parking for six vehicles
