429 Deering Avenue, Portland, ME 04103
Two-unit property with expansion potential and off-street parking.
- Added:
- Jul 9, 2024
- Days on Market:
- 729
- Last Refresh:
- Jul 5 at 1:23 pm
Property Features for 429 Deering Avenue
General Information
- Standard status
- Active
- Size
- 2,764 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1916
Listing office The Dunham Group
Listing date Jul 9, 2024
Source Crexi
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 The Dunham Group
HighLights
- Large two‑unit property.
- Excellent location.
- Expansive off‑street parking.
- Suitable for both owner‑users and investors.
- Potential to build out the 3rd floor for expanded space and/or additional units.
- Built in 1916.
Overview
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 | $74.6k | $27.00 |
| − Vacancy | −$4.9k | −$1.76 |
| EGI | $69.8k | $25.25 |
| − OpEx | −$20.9k | −$7.57 |
| NOI | $48.8k | $17.67 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Cumberland
- State
- Maine
- Longitude
- -70.2835176
- Latitude
- 43.666755
