Mixed-Use Property with
For Sale
$1,673,000
8-10 South Street, Freeport, ME 04032
Commercial Sale, 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
Commercial Sale
Property subtype
Other
Zoning
VMU-2
Rooms
Basement
Basement
Unfinished
Lot features
Downtown
Standard status
Active
Size
7,193 SF
Lot size
0.77 Acres
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas, Baseboard
Water source
Public
Amenities
conference room
Building Details
Year built
1900
Flooring type
Wood, Tile, Concrete
Building materials
Wood Frame, Wood Siding
Roof type
Shingle
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 4:06PM
MLS# 1676658
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 conference room, multiple office rooms, and an additional second-floor office or client space. Nearly 6,000 square feet is configured for shop, light industrial, construction, or storage use, with prior use as a cabinet shop. The residential portion adds three units within the overall property.
The property occupies 0.77 acres in downtown Freeport, facing a quiet residential neighborhood while remaining within the village setting. VMU-2 zoning, public water, and public sewer support the existing combination of commercial and residential improvements. The building dates to 1900 and features wood-frame construction, wood siding, concrete, tile, and wood flooring, along with natural-gas hot-water baseboard heat.
The property occupies 0.77 acres in downtown Freeport, facing a quiet residential neighborhood while remaining within the village setting. VMU-2 zoning, public water, and public sewer support the existing combination of commercial and residential improvements. The building dates to 1900 and features wood-frame construction, wood siding, concrete, tile, and wood flooring, along with natural-gas hot-water baseboard heat.
Key Highlights
- 7,193 SF mixed‑use property on 0.77 acres
- Nearly 6,000 SF of shop/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
491
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 - Combined office, industrial, and residential improvements occupy a village setting with public utilities and VMU-2 zoning.
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: 7,193 SF mixed‑use property on 0.77 acres; Nearly 6,000 SF of shop/industrial space; Three‑unit residential component
