Mixed-Use Property with
For Sale
$1,673,000
8-10 South Street, Freeport, ME 04032
Multi-Family, Freeport, ME
Property Size7,193 SF
Lot Size0.77 Acres
Price / SF$232.59
Days on Market50
Property Features for 8-10 South Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
VMU-2
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Basement, Bathroom 3
Basement
Unfinished
Lot features
Open, Level, Near Turnpike/ Interstate, Near Town, Near Railroad
Standard status
Active
Size
7,193 SF
Lot size
0.77 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10255
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas, Baseboard
Water source
Public
Building Details
Year built
1900
Number of units
3
Flooring type
Concrete, Tile, Wood
Building materials
Wood Frame, Wood Siding
Roof type
Shingle
Additional Structures
Outbuilding
Listing Agency:
Vitalius Real Estate Group, LLC
(207) 541-3755
Listed By:
Briton Vitalius
(207) 318-2555
Added: Aug 18
Changed: Oct 5
Last Checked: Oct 6 at 12:06PM
MLS# 1676649
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 combines office space, a workshop, and a three-unit residential component across 7,193 square feet. The office area includes a custom conference room, multiple office rooms, and a second-floor office or client space. Nearly 6,000 SF of shop and industrial area provides room for construction work, light manufacturing, or storage. The improvements use wood-frame construction with wood siding and include concrete, tile, and wood flooring.
Set on 0.77 acres in the middle of Freeport Village, the property faces a quiet residential neighborhood while offering a larger site for parking, expansion, or additional residential development. Zoning is VMU-2. Public water and public sewer serve the property. Built in 1900, the building has natural gas heating with hot water and baseboard systems, along with a shingle roof.
Set on 0.77 acres in the middle of Freeport Village, the property faces a quiet residential neighborhood while offering a larger site for parking, expansion, or additional residential development. Zoning is VMU-2. Public water and public sewer serve the property. Built in 1900, the building has natural gas heating with hot water and baseboard systems, along with a shingle roof.
Key Highlights
- Mixed‑use property totaling 7,193 square feet
- Nearly 6,000 SF of shop and industrial space
- Three‑unit residential component
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$127,111
Cap Rate
7.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,542,220
$2.5M
Cap Rate 7%
$1,815,871
$1.8M
Cap Rate 9%
$1,412,344
$1.4M
Market Conditions
NOI Build-Up for 7,193 SF
Gross rent
$194.2K $27.00/SF
− Vacancy
−$12.6K −$1.76/SF
EGI
$181.6K $25.25/SF
− OpEx
−$54.5K −$7.57/SF
NOI
$127.1K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,542,220
Cap Rate 7%
$1,815,871
Cap Rate 9%
$1,412,344
Alternative Uses
Best Use
Multifamily LT 5
$1.82M
$1.59M – $2.12M
NOI $127,111 @ 7.0% cap · market cap 7.60%
Second Best
Apartment 5plus
$1.69M
$1.48M – $1.97M
NOI $118,257 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,390 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Explore this area
Business Placement
Demographics for 04032, ME
8,737
Population
4,133
Households
2.1
Avg Household Size
47
Median Age
57%
College-Educated
94%
High-School Grad
34.7 sq mi
ZIP Area
252
Density / Sq Mi
$108,864
Median Household Income
$48,222
Median Earnings
$1,436
Median Rent
$445,800
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?
Mixed-use property - Combines office space, industrial improvements, and three residential units on a village-site parcel.
Where is this mixed-use property located?
The property is located at 8-10 South Street Freeport, ME.
What is the asking price?
The asking price for this property is $1,673,000.
What are key features of this property?
This property features: Mixed‑use property totaling 7,193 square feet; Nearly 6,000 SF of shop and industrial space; Three‑unit residential component
