Renovated Live-Work
New
For Sale
$735,000
26 Adelaide Street, Portland, ME 04103
Commercial Sale, Portland, ME
Property Size1,861 SF
Lot Size0.17 Acres
Price / SF$394.95
Days on Market3
Property Features for 26 Adelaide Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B2
Rooms
Basement
Parking features
Off Street
Interior features
Storage
Basement
Unfinished
Lot features
Public Transport Access, Business District, Bus Line, Near Shopping
Standard status
Active
Size
1,861 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6921
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Wood Stove, Heat Pump (Heating), Oil, Wood, Electric (Heating)
Cooling system
Heat Pump
Water source
Public
Amenities
detached garages
Building Details
Year built
1901
Flooring type
Wood, Tile
Building materials
Wood Frame, Clapboard, Shingle Siding, Wood Siding
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Waypoint Brokers Collective
(207) 804-2012
Listed By:
Chelsea Locke Carey
(207) 332-2785
Added: Aug 24
Last Checked: Aug 26 at 1:06PM
MLS# 1674539
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 26 Adelaide Street in Portland, this renovated live-work space offers 1,861 square feet across three finished levels. The interior includes three bedrooms, wood and tile flooring, storage, heat pumps, forced-air heating, and a wood stove. Public water and sewer serve the property, while two detached garages provide additional storage or workshop space.
The property includes a 0.17-acre lot and a second deeded lot described as buildable. B2 zoning applies to the property, with future development options subject to City of Portland review and applicable district requirements. The setting is within walking distance of the University of New England's Portland campus, restaurants, parks, and neighborhood amenities.
The property includes a 0.17-acre lot and a second deeded lot described as buildable. B2 zoning applies to the property, with future development options subject to City of Portland review and applicable district requirements. The setting is within walking distance of the University of New England's Portland campus, restaurants, parks, and neighborhood amenities.
Key Highlights
- Renovated 1,861‑square‑foot live‑work property at 26 Adelaide Street
- Three finished levels with three bedrooms and flexible living areas
- B2 commercial zoning
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
$26,642
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
3.62%
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%
$532,840
$532.8K
Cap Rate 7%
$380,600
$380.6K
Cap Rate 9%
$296,022
$296.0K
Market Conditions
NOI Build-Up for 1,861 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
$40.6K $21.84/SF
− Vacancy
−$5.1K −$2.75/SF
EGI
$35.5K $19.09/SF
− OpEx
−$8.9K −$4.77/SF
NOI
$26.6K $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%
$532,840
Cap Rate 7%
$380,600
Cap Rate 9%
$296,022
Alternative Uses
Best Use
Office B
$380.6K
$333.0K – $444.0K
NOI $26,642 @ 7.0% cap · market cap 3.62%
Second Best
Mixed Use
$330.2K
$288.9K – $385.2K
NOI $23,114 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$511.5K
$447.6K – $596.8K
NOI $35,805 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
726
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 Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Three finished levels combine flexible living areas with commercial zoning and two detached garages.
Where is this live-work space located?
The property is located at 26 Adelaide Street Portland, ME.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: Renovated 1,861‑square‑foot live‑work property at 26 Adelaide Street; Three finished levels with three bedrooms and flexible living areas; B2 commercial zoning
