Mixed-Use Building with Off-Street
526 Washington Avenue Portland, ME 04103
526 Washington Avenue, Portland, ME, 04103
$515,000
For Sale
$515,000
Two-unit residential building with added commercial space and off-street parking near Roux Institute campus.
Property Size1,866 SF
Price / SF$275.99
Days on Market68
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 Agency
Vitalius Real Estate Group,LLC
Listed by
Briton Vitalius
(603) 433-3350
Source
Greatislandrealty
Added: May 11 Checked: Jul 16 at 1:29 pm
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 property includes a two-unit residential building plus additional commercial space, with valuable off-street parking on site. The layout is designed to support both residential and commercial use within the same ownership, offering flexibility for an investor or an owner-occupant who wants to combine live-and-work functionality.
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.
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.
Key Highlights
- 2‑unit residential building plus additional commercial space
- Off‑street parking included
- Built in 1935
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 |
1,866 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$471.1K
$412.2K – $549.6K
NOI $32,975 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$438.3K
$383.5K – $511.3K
NOI $30,678 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$512.9K
$448.8K – $598.4K
NOI $35,901 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-unit residential building with added commercial space and off-street parking near Roux Institute campus.
Where is this duplex located?
The property is located at 526 Washington Avenue Portland, ME.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: 2‑unit residential building plus additional commercial space; Off‑street parking included; Built in 1935
