Mixed-Use Property with Three
45 Portland Street, Portland, ME 04101
For Sale
New
$1,100,000
Commercial Sale, Portland, ME
Property Size4,748 SF
Lot Size0.08 Acres
Price / SF$231.68
Days on Market1
Property Features for 45 Portland Street
General Information
Property type
Property subtype
Zoning
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
Number of units
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
The Real Estate Store
(207) 883-4327
Listed By:
Elizabeth Marks
(207) 332-6210
Added: Nov 10
Last Checked: Nov 10 at 6:06PM
MLS# 1687357
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.
This 4,748-square-foot mixed-use property comprises two abutting buildings on a 0.08-acre lot. The building at 45 Portland Street has street-level commercial space and a second-floor one-bedroom, one-bathroom apartment. The adjoining building at 35 Hanover Street contains two apartments: one with three bedrooms and one bathroom, and another with two bedrooms and one bathroom.
The property is zoned B-2b. Both buildings were built in 1915. Construction is wood frame with vinyl siding, and the buildings have shingle roofs. Interior flooring includes vinyl, carpet, laminate, and tile. Heating systems include electric baseboard, heat pumps, and natural gas hot water; cooling is by heat pump. Public water and public sewer serve the property.
The property is zoned B-2b. Both buildings were built in 1915. Construction is wood frame with vinyl siding, and the buildings have shingle roofs. Interior flooring includes vinyl, carpet, laminate, and tile. Heating systems include electric baseboard, heat pumps, and natural gas hot water; cooling is by heat pump. Public water and public sewer serve the property.
Key Highlights
- Two buildings totaling 4,748 square feet on a 0.08‑acre lot
- Street‑level commercial space at 45 Portland Street
- Three apartments: one 1‑bedroom, one 3‑bedroom, and one 2‑bedroom unit
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
226k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 77%
Shops & Services 8%
Dining 7%
Apparel 5%
Trader Joe's
Groceries
68,293 visits/mo
0.2 miles
Hannaford
Groceries
60,121 visits/mo
0.4 miles
Whole Foods Market
Groceries
44,366 visits/mo
0.3 miles
Chipotle Mexican Grill
Dining
11,557 visits/mo
0.3 miles
Reny's
Apparel
10,314 visits/mo
0.3 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
$600,600
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Portland, ME
Properties on Market for Mixed-use properties in Portland
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two buildings combine storefront space with three apartments under B-2b zoning.
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: Two buildings totaling 4,748 square feet on a 0.08‑acre lot; Street‑level commercial space at 45 Portland Street; Three apartments: one 1‑bedroom, one 3‑bedroom, and one 2‑bedroom unit
