Mixed-Use Property with Office
New
For Sale
$1,800,000
9 13-15 Waverly Street, Portland, ME 04103
Multi-Family, Portland, ME
Property Size7,172 SF
Lot Size0.36 Acres
Price / SF$250.98
Days on Market3
Property Features for 9 13-15 Waverly Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RN3 & B2
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 1, Bathroom 2, Bathroom 4, Bathroom 3, Basement, Bathroom 5
Parking features
Off Street, On Street
Patio and Porch features
Deck, Porch
Pets allowed
No
Interior features
Bathtub
Basement
Full, Unfinished
Lot features
Well Landscaped, Corner Lot, Level, Sidewalks, Near Shopping, Neighborhood, Near Public Transit
Standard status
Active
Size
7,172 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
17175
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Other (Heating), Natural Gas, Baseboard
Cooling system
Central Air
Water source
Public
Building Details
Year built
1987
Floors in Building
3
Number of units
5
Flooring type
Wood, Tile, Carpet
Building materials
Wood Frame, Vinyl Siding, Wood Siding
Roof type
Shingle
Architectural style
Victorian
Listing Agency:
Town & Shore Real Estate
(207) 773-0262
Listed By:
Mark Fortier
(207) 831-1257
Added: Oct 13
Last Checked: Oct 15 at 4:06AM
MLS# 1684115
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 two-building mixed-use property totals 7,172 square feet on 0.36 acres. The three-story building at 9 Waverly Street has commercial office space on its first and second floors, with 1,733 square feet on each level, and a two-bedroom apartment above. The townhouse-style duplex at 13–15 Waverly Street was built in 1987; each unit has two or three bedrooms, 1.5 baths and a full basement. The property has separate utilities and natural gas heat.
The buildings occupy the corner of Forest Avenue and Waverly Street, with commercial exposure from Forest Avenue and a large paved parking area. Zoning is RN3 and B2.
The buildings occupy the corner of Forest Avenue and Waverly Street, with commercial exposure from Forest Avenue and a large paved parking area. Zoning is RN3 and B2.
Key Highlights
- 7,172‑square‑foot mixed‑use property on 0.36 acres
- Office space occupies the first two floors at 9 Waverly Street, with 1,733 square feet per floor
- Third‑floor apartment at 9 Waverly Street has two bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$126,740
Cap Rate
7.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,534,800
$2.5M
Cap Rate 7%
$1,810,571
$1.8M
Cap Rate 9%
$1,408,222
$1.4M
Market Conditions
NOI Build-Up for 7,172 SF
Gross rent
$193.6K $27.00/SF
− Vacancy
−$12.6K −$1.76/SF
EGI
$181.1K $25.25/SF
− OpEx
−$54.3K −$7.57/SF
NOI
$126.7K $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%
$2,534,800
Cap Rate 7%
$1,810,571
Cap Rate 9%
$1,408,222
Alternative Uses
Best Use
Multifamily LT 5
$1.81M
$1.58M – $2.11M
NOI $126,740 @ 7.0% cap · market cap 7.04%
Second Best
Apartment 5plus
$1.68M
$1.47M – $1.97M
NOI $117,912 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$1.97M
$1.72M – $2.30M
NOI $137,986 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
775
Businesses Nearby
Explore this area
Business Placement
Demographics for 04103, ME
31,185
Population
14,336
Households
2.2
Avg Household Size
40
Median Age
58%
College-Educated
97%
High-School Grad
10.2 sq mi
ZIP Area
3,057
Density / Sq Mi
$90,682
Median Household Income
$48,640
Median Earnings
$1,571
Median Rent
$421,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A two-building Portland property combines commercial offices, residential apartments and a townhouse-style duplex.
Where is this mixed-use property located?
The property is located at 9 13-15 Waverly Street Portland, ME.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 7,172‑square‑foot mixed‑use property on 0.36 acres; Office space occupies the first two floors at 9 Waverly Street, with 1,733 square feet per floor; Third‑floor apartment at 9 Waverly Street has two bedrooms
