Renovated Three-Unit Residential
For Sale
$948,000
325 Woodford Street, Portland, ME 04103
Three-unit property with multiple electrical panels and renovations, plus exterior space potentially suited for an accessory dwelling unit.
Property Size3,067 SF
Price / SF$309.10
Days on Market91
Property Features for 325 Woodford Street
General Information
Standard status
Active
Size
3,067 SF
Property subtype
Multi-family
Building Details
Year Built
1897
Listing Agency:
CENTURY 21 Advantage
Listed By:
Brendan Johnson
(603) 433-3350
Source:
Greatislandrealty
Added: Jun 13
Changed: Sep 10
Last Checked: Sep 11 at 1:22PM
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 CENTURY 21 Advantage
Investment Insights
Based on property information with market context.
This renovated three-unit residential income property has been well maintained under current ownership and is prepared for the next owner. The building features three separate electrical panels, and much of the major work has already been completed to support a smooth transition.
The first-floor unit includes hardwood floors, custom trim, and a fully remodeled kitchen. The upper-level unit offers exposed beams, while the remaining spaces have been updated with an emphasis on both functionality and finishes. Outside, there is generous space for gathering, gardening, or exploring the potential for a future accessory dwelling unit, subject to city approvals.
Located in Portland’s Deering Center neighborhood, the property is just moments from local shops, restaurants, schools, and everyday amenities, with proximity to both 295 and 95 for travel throughout Greater Portland and beyond.
The first-floor unit includes hardwood floors, custom trim, and a fully remodeled kitchen. The upper-level unit offers exposed beams, while the remaining spaces have been updated with an emphasis on both functionality and finishes. Outside, there is generous space for gathering, gardening, or exploring the potential for a future accessory dwelling unit, subject to city approvals.
Located in Portland’s Deering Center neighborhood, the property is just moments from local shops, restaurants, schools, and everyday amenities, with proximity to both 295 and 95 for travel throughout Greater Portland and beyond.
Key Highlights
- Three‑unit property built in 1897 in Portland’s Deering Center neighborhood
- Renovated and well maintained; much of the major work already completed during current ownership
- Three separate electrical panels
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
$54,198
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
5.72%
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%
$1,083,960
$1.1M
Cap Rate 7%
$774,257
$774.3K
Cap Rate 9%
$602,200
$602.2K
Market Conditions
NOI Build-Up for 3,067 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
$82.8K $27.00/SF
− Vacancy
−$5.4K −$1.76/SF
EGI
$77.4K $25.25/SF
− OpEx
−$23.2K −$7.57/SF
NOI
$54.2K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,083,960
Cap Rate 7%
$774,257
Cap Rate 9%
$602,200
Alternative Uses
Best Use
Multifamily LT 5
$774.3K
$677.5K – $903.3K
NOI $54,198 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$720.3K
$630.3K – $840.4K
NOI $50,423 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$843.0K
$737.6K – $983.5K
NOI $59,008 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
826
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with multiple electrical panels and renovations, plus exterior space potentially suited for an accessory dwelling unit.
Where is this triplex located?
The property is located at 325 Woodford Street Portland, ME.
What is the asking price?
The asking price for this property is $948,000.
What are key features of this property?
This property features: Three‑unit property built in 1897 in Portland’s Deering Center neighborhood; Renovated and well maintained; much of the major work already completed during current ownership; Three separate electrical panels
