Updated Live-Work
New
For Sale
$950,000
205 Woodford St, Portland, ME 04103
Flexible residence with separate-entry bonus space and zoning that allows small business use.
Property Size3,312 SF
Price / SF$286.84
Days on Market4
Property Features for 205 Woodford St
General Information
Standard status
Active
Size
3,312 SF
Additional Details
Road Access
Yes
Amenities
covered front porch
gas fireplace
new heating system
fenced-in front patio
hardwood floors
crown molding
custom-built window seats
Building Details
Year Built
1900
Listing Agency:
Town & Shore Real Estate
Listed By:
Brenda Cerino
(207) 773-0262
Source:
Scottandsunny
Added: Sep 19
Last Checked: Sep 21 at 10:16AM
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 Town & Shore Real Estate
Investment Insights
Based on property information with market context.
This 3,312-square-foot live-work property combines a four-bedroom, four-bath residence with adaptable main-floor bonus space and a separate entrance. Built in 1900, the property has been updated with a new heating system while retaining high ceilings, hardwood floors, crown molding, custom window seats, and a gas fireplace. The kitchen includes an eat-in area and connects conveniently with the formal dining room. A primary suite with an en suite bathroom adds a private residential component, while the covered porch and fenced front patio provide additional usable space.
Located in Portland’s Woodfords neighborhood, the property supports a blend of residential occupancy and small business use under the applicable zoning ordinance. Its layout accommodates home-office or business activity without sacrificing the character and functionality of the residence.
Located in Portland’s Woodfords neighborhood, the property supports a blend of residential occupancy and small business use under the applicable zoning ordinance. Its layout accommodates home-office or business activity without sacrificing the character and functionality of the residence.
Key Highlights
- 3,312 SF live‑work property
- Four bedrooms and four bathrooms
- Main‑floor bonus area with separate entry
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
$47,415
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
4.99%
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%
$948,300
$948.3K
Cap Rate 7%
$677,357
$677.4K
Cap Rate 9%
$526,833
$526.8K
Market Conditions
NOI Build-Up for 3,312 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
$72.3K $21.84/SF
− Vacancy
−$9.1K −$2.75/SF
EGI
$63.2K $19.09/SF
− OpEx
−$15.8K −$4.77/SF
NOI
$47.4K $14.32/SF
Area
Cumberland County, ME
Vacancy
12.60%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
25.00%
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%
$948,300
Cap Rate 7%
$677,357
Cap Rate 9%
$526,833
Alternative Uses
Best Use
Office B
$677.4K
$592.7K – $790.3K
NOI $47,415 @ 7.0% cap · market cap 4.99%
Second Best
Mixed Use
$587.6K
$514.2K – $685.6K
NOI $41,135 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$910.3K
$796.5K – $1.06M
NOI $63,721 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
968
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Live-work space - Flexible residence with separate-entry bonus space and zoning that allows small business use.
Where is this live-work space located?
The property is located at 205 Woodford St 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: 3,312 SF live‑work property; Four bedrooms and four bathrooms; Main‑floor bonus area with separate entry
