Victorian Mixed-Use
For Sale
$565,000
49 Portland Street, South Berwick, ME 03908
Commercial Sale, South Berwick, ME
Property Size3,120 SF
Lot Size0.27 Acres
Price / SF$181.09
Days on Market96
Property Features for 49 Portland Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
B1
Rooms
Basement
Parking features
Off Street
Basement
Full, Unfinished
Lot features
Downtown, Business District
Standard status
Active
Size
3,120 SF
Lot size
0.27 Acres
Additional Details
Tenant in Place
Yes
Property Use
Office/Residential
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
8355
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Oil, Baseboard
Cooling system
Central Air
Water source
Public
Amenities
central air conditioning
off-street parking
Building Details
Year built
1900
Number of units
3
Flooring type
Carpet, Wood
Building materials
Wood Frame, Wood Siding
Roof type
Shingle, Membrane
Buildings
1
Listing Agency:
CENTURY 21 Barbara Patterson · Century 21 Real Estate
(207) 384-4008
Listed By:
W Gerard Tatlock
(207) 752-0407
Added: Jul 25
Changed: Oct 27
Last Checked: Oct 28 at 4:06PM
MLS# 1601934
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.
Built in 1900, this 3,120-square-foot Victorian property combines two office suites with a second-floor 2-bedroom apartment. One office includes three private rooms and a reception area, while the other provides two private offices and a reception area; each has a separate exterior entrance. Off-street parking serves both business and residential occupants, and existing leases cover all units.
Located at 49 Portland Street in South Berwick, the property is within the downtown area. Improvements include replacement windows, an updated hot-water baseboard heating system, central air conditioning, and separate electrical services. The building has wood-frame construction with wood siding, carpet and wood flooring, membrane and shingle roofing, public water, public sewer, and a basement. The 0.27-acre parcel is zoned B1.
Located at 49 Portland Street in South Berwick, the property is within the downtown area. Improvements include replacement windows, an updated hot-water baseboard heating system, central air conditioning, and separate electrical services. The building has wood-frame construction with wood siding, carpet and wood flooring, membrane and shingle roofing, public water, public sewer, and a basement. The 0.27-acre parcel is zoned B1.
Key Highlights
- Mixed‑use building with 3,120 square feet on a 0.27‑acre parcel
- Two office suites plus a second‑floor 2‑bedroom apartment
- Office layouts include 3 private offices and 2 private offices, each with reception space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,106
Cap Rate
9.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,022,120
$1.0M
Cap Rate 7%
$730,086
$730.1K
Cap Rate 9%
$567,844
$567.8K
Market Conditions
NOI Build-Up for 3,120 SF
Gross rent
$77.9K $24.96/SF
− Vacancy
−$9.7K −$3.12/SF
EGI
$68.1K $21.84/SF
− OpEx
−$17.0K −$5.46/SF
NOI
$51.1K $16.38/SF
Area
York County, ME
Vacancy
12.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,022,120
Cap Rate 7%
$730,086
Cap Rate 9%
$567,844
Alternative Uses
Best Use
Office B
$730.1K
$638.8K – $851.8K
NOI $51,106 @ 7.0% cap · market cap 9.05%
Second Best
Apartment 5plus
$688.8K
$602.7K – $803.6K
NOI $48,217 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$989.0K
$865.4K – $1.15M
NOI $69,232 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Office units
1
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
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Business Placement
Demographics for 03908, ME
7,468
Population
3,169
Households
2.4
Avg Household Size
41
Median Age
39%
College-Educated
98%
High-School Grad
31.9 sq mi
ZIP Area
234
Density / Sq Mi
$97,927
Median Household Income
$52,008
Median Earnings
$1,535
Median Rent
$385,000
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two office suites and a two-bedroom apartment combine commercial operations with residential occupancy.
Where is this mixed-use property located?
The property is located at 49 Portland Street South Berwick, ME.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Mixed‑use building with 3,120 square feet on a 0.27‑acre parcel; Two office suites plus a second‑floor 2‑bedroom apartment; Office layouts include 3 private offices and 2 private offices, each with reception space
