Renovated Mixed-Use
For Sale
$1,070,000
522-526 Washington Avenue, Portland, ME 04103
Two adjoining properties combine office space with a two-family building and commercial space.
Property Size5,036 SF
Price / SF$212.47
Days on Market80
Property Features for 522-526 Washington Avenue
General Information
Standard status
Active
Size
5,036 SF
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Building Details
Building Size
5,036 SF
Buildings
1
Listing Agency:
Vitalius Real Estate Group, LLC
(207) 541-3755
Listed By:
Briton Vitalius
(207) 541-3755
Source:
Heathershieldsmaine
Added: May 18
Changed: Jul 31
Last Checked: Aug 5 at 4:15AM
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 Vitalius Real Estate Group, LLC
Investment Insights
Based on property information with market context.
This mixed-use offering includes two adjoining properties available individually or as a package. The combination features a renovated commercial office building and a mixed-use two-family property with commercial space. Together, the properties are identified at 5,036 square feet and provide a combined parking footprint near downtown Portland.
The properties are located along Washington Avenue with access to I-295, Back Cove, and the Roux Institute campus. Existing income is in place, with additional space available for lease-up. The configuration accommodates both investment and owner-user considerations, subject to the applicable property terms.
The properties are located along Washington Avenue with access to I-295, Back Cove, and the Roux Institute campus. Existing income is in place, with additional space available for lease-up. The configuration accommodates both investment and owner-user considerations, subject to the applicable property terms.
Key Highlights
- Two adjoining properties available individually or as a package
- Renovated commercial office building included
- Mixed‑use two‑family property with commercial space
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 | $136.0k | $27.00 |
| − Vacancy | −$8.8k | −$1.76 |
| EGI | $127.1k | $25.25 |
| − OpEx | −$38.1k | −$7.57 |
| NOI | $89.0k | $17.67 |
5,036 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $88,994 @ 7.0% cap · market cap 8.32%
Second Best
Apartment 5plus
$1.18M
$1.03M – $1.38M
NOI $82,795 @ 7.0% cap · market cap 7.74%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,890 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,493
Businesses Nearby
Explore this area
Business Placement
Demographics for 04103, ME
31,185
Population
14,336
Households
2.2
Avg Household Size
40
Median Age
58%
College-Educated
97%
High-School Grad
10.2 sq mi
ZIP Area
3,057
Density / Sq Mi
$90,682
Median Household Income
$48,640
Median Earnings
$1,571
Median Rent
$421,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two adjoining properties combine office space with a two-family building and commercial space.
Where is this mixed-use property located?
The property is located at 522-526 Washington Avenue Portland, ME.
What is the asking price?
The asking price for this property is $1,070,000.
What are key features of this property?
This property features: Two adjoining properties available individually or as a package; Renovated commercial office building included; Mixed‑use two‑family property with commercial space
