Mixed-Use Building with Loading
34 Portland Street, Portland, ME 04101
For Sale
$525,000
The building combines two full floors, a partial upper level, and basement storage or flex space.
Property Size3,458 SF
Price / SF$151.82
Days on Market1151
Property Features for 34 Portland Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Corner Location
Road Access
Additional Details
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
loading access
storage/flex space
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Malone Commercial Brokers, Inc.
Listed By:
Michael Anderson
(207) 772-2422
Source:
Integrityhomesrealestategroup
Added: Sep 18, 2023
Changed: Nov 11
Last Checked: Nov 11 at 2:20AM
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, Inc.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1936 mixed-use property has two principal floors, a partial third level with windows, and basement space suited to storage or flexible use. A rear driveway provides loading access, and two parking spaces are on site. The property is zoned B2B.
At the corner of Portland Street and Alder Street, the building is next to Maine Oyster Company and near multiple Bayside development projects.
At the corner of Portland Street and Alder Street, the building is next to Maine Oyster Company and near multiple Bayside development projects.
Key Highlights
- Two main floors, a partial third story with windows, and basement storage or flex space
- Rear driveway for loading access
- Two on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,948
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$858,960
$859.0K
Cap Rate 7%
$613,543
$613.5K
Cap Rate 9%
$477,200
$477.2K
Market Conditions
NOI Build-Up for 3,458 SF
Gross rent
$74.7K $21.60/SF
− Vacancy
−$6.0K −$1.73/SF
EGI
$68.7K $19.87/SF
− OpEx
−$25.8K −$7.45/SF
NOI
$42.9K $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%
$858,960
Cap Rate 7%
$613,543
Cap Rate 9%
$477,200
Alternative Uses
Best Use
Mixed Use
$613.5K
$536.9K – $715.8K
NOI $42,948 @ 7.0% cap · market cap 8.18%
Second Best
Retail
$516.6K
$452.1K – $602.7K
NOI $36,164 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$950.4K
$831.6K – $1.11M
NOI $66,530 @ 7.0% cap · market cap 12.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,466
Businesses Nearby
179k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 63%
Shops & Services 16%
Dining 9%
Apparel 7%
Trader Joe's
Groceries
68,293 visits/mo
0.3 miles
Whole Foods Market
Groceries
44,366 visits/mo
0.5 miles
Chipotle Mexican Grill
Dining
11,557 visits/mo
0.3 miles
Reny's
Apparel
10,314 visits/mo
0.1 miles
7-Eleven
Shops & Services
10,061 visits/mo
0.4 miles
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
$600,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Mixed-use properties in Portland, ME
Properties on Market for Mixed-use properties in Portland
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The building combines two full floors, a partial upper level, and basement storage or flex space.
Where is this mixed-use property located?
The property is located at 34 Portland Street Portland, ME.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two main floors, a partial third story with windows, and basement storage or flex space; Rear driveway for loading access; Two on‑site parking spaces
