Mixed-Use Building with Two
526 Washington Avenue Portland, ME 04103
For Sale
$480,000
MULTI_FAMILY - Portland, ME
Property Size1,866 SF
Lot Size0.16 Acres
Price / SF$257.23
Days on Market11
Property Features for 526 Washington Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- B-2B
- Bathrooms
- 2
- Rooms
- Basement, Bathroom 2, Bathroom 1
- Basement
- Full, Unfinished
- Standard status
- Active
- Size
- 1,866 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 5228
Utilities
- Sewer type
- Public Sewer
- Heating system
- Baseboard, Oil
- Water source
- Public
Building Details
- Year built
- 1935
- Number of units
- 2
- Flooring type
- Wood
- Building materials
- Wood Frame, Vinyl Siding
- Roof type
- Shingle, Flat
Listing Agency:
Vitalius Real Estate Group, LLC
(207) 541-3755
Listed By:
Briton Vitalius
(207) 541-3755
Added: Jul 14
Changed: Jul 22
Last Checked: Jul 24 at 12:06AM
MLS# 1662685
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.
Investment Insights
Based on property information with market context.
This mixed-use property at 526 Washington Avenue features a two-unit residential building along with additional commercial space. The offering includes valuable off-street parking and a flexible layout intended to support both investor and owner-occupant use. The property is listed with a zoning designation of B-2B, and sits on a 0.16-acre lot with a total property size of 1,866 square feet.
Located on Portland’s Washington Avenue corridor, it is described as being near the Roux Institute campus. The remarks also cite proximity to downtown, Back Cove, restaurants, breweries, and I-295.
The building may be purchased as part of a package with the neighboring property at 522 Washington Ave, as noted in the listing remarks.
Located on Portland’s Washington Avenue corridor, it is described as being near the Roux Institute campus. The remarks also cite proximity to downtown, Back Cove, restaurants, breweries, and I-295.
The building may be purchased as part of a package with the neighboring property at 522 Washington Ave, as noted in the listing remarks.
Key Highlights
- 2‑unit residential mixed‑use building with additional commercial space
- Year built: 1935
- Off‑street parking included
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 6.87%
Second Best
Apartment 5plus
$438.3K
$383.5K – $511.3K
NOI $30,678 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$512.9K
$448.8K – $598.4K
NOI $35,901 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two residential units plus additional commercial space, with off-street parking, located on Washington Avenue.
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 $480,000.
What are key features of this property?
This property features: 2‑unit residential mixed‑use building with additional commercial space; Year built: 1935; Off‑street parking included
