526 Washington Avenue, Portland, ME 04103
Two-unit residential building with added commercial space and off-street parking near Roux Institute campus.
- Added:
- May 15, 2026
- Days on Market:
- 27
- Last Refresh:
- Jun 6 at 3:19 am
Property Features for 526 Washington Avenue
General Information
- Standard status
- Active
- Size
- 1,866 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1935
Listing agent Briton Vitalius (603) 433-3350
Listing office Vitalius Real Estate Group,LLC
Listing date May 15, 2026
Source Greatislandrealty
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
HighLights
- 2‑unit residential building plus additional commercial space
- Off‑street parking included
- Built in 1935
- Located on Portland’s Washington Avenue corridor near the Roux Institute campus
- Near Turnpike/Interstate
- Can be purchased as a package with the neighboring building at 522 Washington Ave
Overview
Located on Portland’s Washington Avenue corridor, the property provides visibility and accessibility as well as convenient proximity to the Roux Institute campus. The listing also notes close access to downtown, Back Cove, local restaurants and breweries, and I-295, with the area positioned near turnpike/interstate routes.
For tenants and buyers, the combination of two residential units and complementary commercial space can support a range of occupancy strategies, including retaining residential income while operating, leasing, or upgrading the commercial component. Off-street parking adds practical convenience for residents, customers, and service needs. The property is also described as available as part of a package with the neighboring building at 522 Washington Ave, which may be of interest to buyers seeking additional scale in the same corridor.
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 | $50.4k | $27.00 |
| − Vacancy | −$3.3k | −$1.76 |
| EGI | $47.1k | $25.25 |
| − OpEx | −$14.1k | −$7.57 |
| NOI | $33.0k | $17.67 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Cumberland
- State
- Maine
- Longitude
- -70.252053
- Latitude
- 43.665062
