Mixed-Use Building with Paved
For Sale
Contact for pricing
260 Western Ave, South Portland, ME 04106
Multi-tenant commercial property with paved parking and occupants serving psychotherapy, wellness, tattoo, and yoga users.
Property Size8,474 SF
Price / SF$147.51
Days on Market242
Property Features for 260 Western Ave
General Information
Standard status
Active
Size
8,474 SF
Property subtype
OFFICE
Listing Agency:
Malone Commercial Brokers
(207) 772-2422
Listed By:
Mark Malone · License #911380
(207) 772-2422
Source:
Moodyscre
Added: Jan 2
Changed: Aug 30
Last Checked: Aug 30 at 11:47AM
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 Malone Commercial Brokers
Investment Insights
Based on property information with market context.
This 8,474-square-foot mixed-use building occupies approximately 1.56 acres and includes paved on-site parking. The property has 306± feet of frontage and is occupied by StonyCreek Psychotherapy & Wellness, Pure Tattoo Studio, KLD Associates, Inc., and Maine Hatha Yoga.
The property is situated near the Maine Mall and the Portland Jetport, with access to I-95 and I-295. Its existing tenant roster spans wellness, psychotherapy, tattoo, business, and yoga uses within a multi-tenant commercial setting.
The property is situated near the Maine Mall and the Portland Jetport, with access to I-95 and I-295. Its existing tenant roster spans wellness, psychotherapy, tattoo, business, and yoga uses within a multi-tenant commercial setting.
Key Highlights
- 8,474± SF mixed‑use building on approximately 1.56 acres
- 306± feet of frontage
- Abundant paved parking
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
$105,247
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
8.42%
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%
$2,104,940
$2.1M
Cap Rate 7%
$1,503,529
$1.5M
Cap Rate 9%
$1,169,411
$1.2M
Market Conditions
NOI Build-Up for 8,474 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
$183.0K $21.60/SF
− Vacancy
−$14.6K −$1.73/SF
EGI
$168.4K $19.87/SF
− OpEx
−$63.1K −$7.45/SF
NOI
$105.2K $12.42/SF
Area
Cumberland County, ME
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$2,104,940
Cap Rate 7%
$1,503,529
Cap Rate 9%
$1,169,411
Alternative Uses
Best Use
Office B
$1.73M
$1.52M – $2.02M
NOI $121,315 @ 7.0% cap · market cap 9.71%
Second Best
Mixed Use
$1.50M
$1.32M – $1.75M
NOI $105,247 @ 7.0% cap · market cap 8.42%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,036 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,161
Businesses Nearby
Explore this area
Business Placement
Demographics for 04106, ME
26,641
Population
12,849
Households
2.1
Avg Household Size
41
Median Age
49%
College-Educated
95%
High-School Grad
12.2 sq mi
ZIP Area
2,184
Density / Sq Mi
$83,744
Median Household Income
$47,818
Median Earnings
$1,642
Median Rent
$403,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-tenant commercial property with paved parking and occupants serving psychotherapy, wellness, tattoo, and yoga users.
Where is this mixed-use property located?
The property is located at 260 Western Ave South Portland, ME.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 8,474± SF mixed‑use building on approximately 1.56 acres; 306± feet of frontage; Abundant paved parking
