Two-Building Mixed-Use
45 Portland Street, Portland, ME 04101
For Sale
New
$1,100,000
Multi-Family, Portland, ME
Property Size4,748 SF
Lot Size0.08 Acres
Price / SF$231.68
Days on Market5
Property Features for 45 Portland Street
General Information
Property type
Property subtype
Zoning
Bathrooms
Full bathrooms
Rooms
Basement
Lot features
Standard status
Size
Lot size
Additional Details
Tenant in Place
Mixed-Use Components
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Architectural style
Buildings
Listing Agency:
The Real Estate Store
(207) 883-4327
Listed By:
Elizabeth Marks
(207) 332-6210
Added: Nov 10
Last Checked: Nov 14 at 1:06AM
MLS# 1687352
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Two adjoining buildings at 45 Portland Street and 35 Hanover Street contain a total of 4,748 square feet on 0.08 acres. The Portland Street building has street-level commercial space and a second-floor one-bedroom, one-bathroom apartment. The Hanover Street property contains two apartments: one with three bedrooms and one bathroom, and another with two bedrooms and one bathroom.
The properties are zoned B-2b. Both public water and public sewer serve the site. The buildings were constructed in 1915.
The properties are zoned B-2b. Both public water and public sewer serve the site. The buildings were constructed in 1915.
Key Highlights
- 4,748 square feet across two adjoining buildings
- 0.08‑acre site
- Street‑level commercial space and three apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,060
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,561,200
$1.6M
Cap Rate 7%
$1,115,143
$1.1M
Cap Rate 9%
$867,333
$867.3K
Market Conditions
NOI Build-Up for 4,748 SF
Gross rent
$151.0K $31.80/SF
− Vacancy
−$9.1K −$1.91/SF
EGI
$141.9K $29.89/SF
− OpEx
−$63.9K −$13.45/SF
NOI
$78.1K $16.44/SF
Area
Cumberland County, ME
Vacancy
6.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,561,200
Cap Rate 7%
$1,115,143
Cap Rate 9%
$867,333
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$975.8K – $1.30M
NOI $78,060 @ 7.0% cap · market cap 7.10%
Second Best
Mixed Use
$842.4K
$737.1K – $982.8K
NOI $58,970 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,349 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
6,471
Businesses Nearby
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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
$600,600
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Portland, ME
Properties on Market for Mixed-use properties in Portland
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The offering combines street-level commercial space with three apartments across two adjoining properties.
Where is this mixed-use property located?
The property is located at 45 Portland Street Portland, ME.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 4,748 square feet across two adjoining buildings; 0.08‑acre site; Street‑level commercial space and three apartments
