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Triplex with Garage and Backyard

268 Concord Street W Portland, ME 04103

Claim this Listing
For Sale
$917,500

Well-maintained triplex with off-street parking, a garage, and spacious backyard, plus finished space that may support a fourth unit.

Type:Multi-family
Property size:
3,688 SF
Price / SF:
$248.78/SF
Added:
Jun 20, 2026
Days on Market:
25
Last Refresh:
Jul 10 at 3:37 am

Property Features for 268 Concord Street W

General Information

Standard status
Active
Size
3,688 SF
Property subtype
Multi-family

Building Details

Year Built
1879

Listing office Greater Portland Realty

Listing date Jun 20, 2026

Source Profoundrealestate

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 Greater Portland Realty


Investment Insights

Based on property information with market context.

This well-maintained multi-family property includes three established units and additional fully finished space that may be used to create a fourth unit (buyer to verify approvals and permitted use with the City). The owner has occupied the property since 2007, and the units are currently exempt from the City of Portland’s rent increase limits for 3–4 unit buildings.

The property is described as being ideally situated within walking distance to the University of New England (UNE), the University of Southern Maine (USM), Rosemont Market, neighborhood shops, restaurants, and everyday amenities. Outdoor access is also highlighted with easy access to Evergreen Woods and an approximately four-mile network of scenic walking and hiking trails.

Additional on-site features include off-street parking, a garage, and a spacious backyard, offering practical convenience and outdoor space for residents.

Key Highlights

  • Built in 1879, well‑maintained multi‑family property with three established units
  • Fully finished space may support a fourth unit (buyer to verify approvals and permitted use with the City of Portland)
  • Off‑street parking plus a garage

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $99.6k $27.00
− Vacancy −$6.5k −$1.76
EGI $93.1k $25.25
− OpEx −$27.9k −$7.57
NOI $65.2k $17.67
3,688 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%

Alternative Uses

Best Use
Multifamily LT 5
$931.0K
$814.7K – $1.09M (±1% cap)
NOI $65,172 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$866.2K
$757.9K – $1.01M (±1% cap)
NOI $60,633 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$1.01M
$886.9K – $1.18M (±1% cap)
NOI $70,955 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

Building Supply HVAC Service Garden Center (Bike/Boat/Book/etc) Store Electrical Service Tech Support Center (Bike/Boat/Book/etc) Store Plumbing Service Parking Lot & Garage (Bike/Boat/Book/etc) Store

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Triplex - Well-maintained triplex with off-street parking, a garage, and spacious backyard, plus finished space that may support a fourth unit.
Where is this triplex located?
The property is located at 268 Concord Street W Portland, ME.
What is the asking price?
The asking price for this property is $917,500.
What are key features of this property?
This property features: Built in 1879, well‑maintained multi‑family property with three established units; Fully finished space may support a fourth unit (buyer to verify approvals and permitted use with the City of Portland); Off‑street parking plus a garage
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