Two-Story Office
New
For Sale
$699,900
762 Main Street, South Portland, ME 04106
Commercial Sale, South Portland, ME
Property Size2,736 SF
Lot Size0.22 Acres
Price / SF$255.81
Days on Market3
Property Features for 762 Main Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
LB
Rooms
Basement
Basement
Partial, Full, Unfinished
Lot features
Public Transport Access, Near Turnpike/ Interstate, Near Airport, Downtown, Business District, Bus Line, Near Shopping
Standard status
Active
Size
2,736 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4545
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Hot Water(Heating), Oil, Baseboard, Natural Gas, Steam, Electric (Heating)
Cooling system
Wall Unit(s), Heat Pump
Water source
Public
Building Details
Year built
1925
Number of units
1
Flooring type
Hardwood, Tile, Wood, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
Regency Realty Group
(207) 253-1500
Listed By:
Matthew Chamberlain
(207) 450-7653
Added: Sep 10
Changed: Sep 11
Last Checked: Sep 12 at 11:06AM
MLS# 1658680
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 office building contains 2,736 square feet across two levels, with five individual offices and two conference rooms on the main floor plus four additional offices upstairs. The property also includes a basement and was built in 1925.
Located at 762 Main Street in South Portland, the property sits on a 0.22-acre lot and carries LB zoning. Wood-frame construction with vinyl siding, a shingle roof, and a combination of tile, carpet, hardwood, and wood flooring define the building. Public water and public sewer serve the property.
Located at 762 Main Street in South Portland, the property sits on a 0.22-acre lot and carries LB zoning. Wood-frame construction with vinyl siding, a shingle roof, and a combination of tile, carpet, hardwood, and wood flooring define the building. Public water and public sewer serve the property.
Key Highlights
- 2,736 SF office building on a 0.22‑acre lot
- Five offices and two conference rooms on the main level
- Four additional offices on the second floor
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,169
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$783,380
$783.4K
Cap Rate 7%
$559,557
$559.6K
Cap Rate 9%
$435,211
$435.2K
Market Conditions
NOI Build-Up for 2,736 SF
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.
Gross rent
$59.8K $21.84/SF
− Vacancy
−$7.5K −$2.75/SF
EGI
$52.2K $19.09/SF
− OpEx
−$13.1K −$4.77/SF
NOI
$39.2K $14.32/SF
Area
Cumberland County, ME
Vacancy
12.60%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$783,380
Cap Rate 7%
$559,557
Cap Rate 9%
$435,211
Alternative Uses
Best Use
Office B
$559.6K
$489.6K – $652.8K
NOI $39,169 @ 7.0% cap · market cap 5.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$752.0K
$658.0K – $877.3K
NOI $52,639 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
Explore this area
Business Placement
Demographics for 04106, ME
26,641
Population
12,849
Households
2.1
Avg Household Size
41
Median Age
49%
College-Educated
95%
High-School Grad
12.2 sq mi
ZIP Area
2,184
Density / Sq Mi
$83,744
Median Household Income
$47,818
Median Earnings
$1,642
Median Rent
$403,500
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Office property with multiple private rooms, conference areas, public utilities, and a basement.
Where is this office building located?
The property is located at 762 Main Street South Portland, ME.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 2,736 SF office building on a 0.22‑acre lot; Five offices and two conference rooms on the main level; Four additional offices on the second floor
