Mixed-Use Building
New
For Sale
$1,800,000
9 13-15 Waverly Street, Portland, ME 04103
The portfolio combines commercial office space, residential apartments, and a townhouse-style duplex with separate utilities.
Property Size7,172 SF
Price / SF$250.98
Days on Market5
Property Features for 9 13-15 Waverly Street
General Information
Standard status
Active
Size
7,172 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
3
Building Details
Year Built
1987
Buildings
2
Listing Agency:
Town & Shore Real Estate
Listed By:
Mark Fortier
(603) 866-2942
Source:
Profoundrealestate
Added: Oct 11
Changed: Oct 15
Last Checked: Oct 14 at 10:52PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Town & Shore Real Estate
Investment Insights
Based on property information with market context.
This two-building mixed-use property totals 7,172 square feet. The three-story building at 9 Waverly Street has office space on its first and second floors, with 1,733 square feet on each level, and a two-bedroom residence on the third floor. The companion townhouse-style duplex at 13–15 Waverly Street was built in 1987. Each unit has two or three bedrooms, a third-floor loft, 1.5 baths, a full basement, and natural gas heat. Utilities are separate.
A paved parking area serves the buildings. The Waverly Street property is at the corner of Forest Avenue and Waverly Street, with commercial exposure from Forest Avenue. New England College is within walking distance.
A paved parking area serves the buildings. The Waverly Street property is at the corner of Forest Avenue and Waverly Street, with commercial exposure from Forest Avenue. New England College is within walking distance.
Key Highlights
- Two‑building mixed‑use portfolio totaling 7,172 square feet
- Three‑story building with 1,733 square feet of office space on each of the first two floors
- Third‑floor residence at 9 Waverly Street has 2 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.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - The portfolio combines commercial office space, residential apartments, and a townhouse-style duplex with separate utilities.
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: Two‑building mixed‑use portfolio totaling 7,172 square feet; Three‑story building with 1,733 square feet of office space on each of the first two floors; Third‑floor residence at 9 Waverly Street has 2 bedrooms
