Victorian Bed &
273 State Street, Portland, ME 04101
For Sale
$1,195,000
A separate first-floor apartment offers two bedrooms, two bathrooms, and a full kitchen alongside the guest accommodations.
Property Size5,472 SF
Price / SF$218.38
Days on Market58
Property Features for 273 State Street
General Information
Standard status
Size
Property subtype
Zoning
Taxes and HOA fees
Annual Taxes
Amenities
shared kitchenette
private reading nook
private backyard
Storage
Building Details
Building Size
Year Built
Year Renovated
Buildings
Stories
Construction
Listing Agency:
Portside Real Estate Group
(207) 619-7571
Listed By:
Sarah Delisl Courtney Sweeton
(207) 523-9183
Source:
Amerorealty
Added: Sep 15
Changed: Nov 3
Last Checked: Nov 11 at 3:02AM
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 Portside Real Estate Group
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Investment Insights
Based on property information with market context.
Built in 1894 and renovated in 2019, this 5,472-square-foot Victorian property operates as an inn. Four guest suites occupy the second and third floors, with private bathrooms; guests also have access to a shared kitchenette and a second-floor reading nook. A first-floor apartment includes two bedrooms, two bathrooms, a full kitchen, formal dining and living rooms, and 10-foot ceilings. Period details and built-ins remain part of the residence.
The property includes a private backyard and on-site parking. Museums, restaurants, shops, and attractions in the West End and downtown Portland are within walking distance.
The property includes a private backyard and on-site parking. Museums, restaurants, shops, and attractions in the West End and downtown Portland are within walking distance.
Key Highlights
- Four guest suites span the second and third floors
- First‑floor apartment has two bedrooms, two bathrooms, and a full kitchen
- 5,472‑square‑foot Victorian property built in 1894 and renovated in 2019
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,962
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,359,240
$1.4M
Cap Rate 7%
$970,886
$970.9K
Cap Rate 9%
$755,133
$755.1K
Market Conditions
NOI Build-Up for 5,472 SF
Gross rent
$118.2K $21.60/SF
− Vacancy
−$9.5K −$1.73/SF
EGI
$108.7K $19.87/SF
− OpEx
−$40.8K −$7.45/SF
NOI
$68.0K $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 Rate 5%
$1,359,240
Cap Rate 7%
$970,886
Cap Rate 9%
$755,133
Alternative Uses
Best Use
Mixed Use
$970.9K
$849.5K – $1.13M
NOI $67,962 @ 7.0% cap · market cap 5.69%
Second Best
Hotel Hospitality
$568.1K
$497.1K – $662.8K
NOI $39,768 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$1.50M
$1.32M – $1.75M
NOI $105,279 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
5,153
Businesses Nearby
Balanced
Demand for This Use
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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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Similar Off Market Nearby
- West End Inn — 146 Pine St, Portland, ME 04102
- Gary's House — 97 State St, Portland, ME 04101
- The Skolfield Inn — 132 Chadwick St, Portland, ME 04102
- Morrill Mansion — 249 Vaughan St, Portland, ME 04102
- The Brackett — 264 Brackett St, Portland, ME 04102
Frequently Asked Questions
What type of property is this?
Bed & breakfast - A separate first-floor apartment offers two bedrooms, two bathrooms, and a full kitchen alongside the guest accommodations.
Where is this bed & breakfast located?
The property is located at 273 State Street Portland, ME.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Four guest suites span the second and third floors; First‑floor apartment has two bedrooms, two bathrooms, and a full kitchen; 5,472‑square‑foot Victorian property built in 1894 and renovated in 2019
