Mixed-Use Building with
New
For Sale
$1,300,000
332 Fore Street, Portland, ME 04101
Street-level commercial space is complemented by four one-bedroom apartments on the upper floors.
Property Size4,798 SF
Price / SF$270.95
Days on Market3
Property Features for 332 Fore Street
General Information
Standard status
Active
Size
4,798 SF
Property subtype
MULTI_FAMILY
Taxes and HOA fees
Annual Taxes
$9,567
Building Details
Building Size
4,798 SF
Year Built
1792
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Vitalius Real Estate Group, LLC
Listed By:
Briton Vitalius
(207) 541-3755
Source:
Heathershieldsmaine
Added: Oct 13
Changed: Oct 15
Last Checked: Oct 15 at 12:05AM
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 Vitalius Real Estate Group, LLC
Investment Insights
Based on property information with market context.
Built in 1792, this 4,798-square-foot brick property brings together retail at street level and four one-bedroom apartments on its upper floors. The building endured the Great Fire and has served multiple roles over its history.
The property is located in Boothby Square at 332 Fore Street, on a cobblestone street in Portland’s Old Port.
The property is located in Boothby Square at 332 Fore Street, on a cobblestone street in Portland’s Old Port.
Key Highlights
- 4,798‑square‑foot brick building dating to 1792
- Ground‑level retail space
- Four one‑bedroom apartments on the upper floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,788
Cap Rate
6.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,695,760
$1.7M
Cap Rate 7%
$1,211,257
$1.2M
Cap Rate 9%
$942,089
$942.1K
Market Conditions
NOI Build-Up for 4,798 SF
Gross rent
$129.5K $27.00/SF
− Vacancy
−$8.4K −$1.76/SF
EGI
$121.1K $25.25/SF
− OpEx
−$36.3K −$7.57/SF
NOI
$84.8K $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 Rate 5%
$1,695,760
Cap Rate 7%
$1,211,257
Cap Rate 9%
$942,089
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,788 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$1.13M
$986.0K – $1.31M
NOI $78,882 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,311 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,360
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Mixed-use property - Street-level commercial space is complemented by four one-bedroom apartments on the upper floors.
Where is this mixed-use property located?
The property is located at 332 Fore Street Portland, ME.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 4,798‑square‑foot brick building dating to 1792; Ground‑level retail space; Four one‑bedroom apartments on the upper floors
