Mixed-Use Building in Old
For Sale
Contact for pricing
85 India St, Portland, ME 04101
Mixed-use building in a rapidly appreciating Portland neighborhood.
Property Size4,830 SF
Price / SF$253.62
Days on Market673
Property Features for 85 India St
General Information
Standard status
Active
Size
4,830 SF
Class
B
Property subtype
Retail, Office
Zoning
IS-FBC
Building Details
Year Built
1903
Listing Agency:
The Boulos Company Portland
(207) 772-1333
Listed By:
Roy Donnelly · License #ME BA927223
Source:
Crexi
Added: Oct 29, 2024
Changed: Aug 31
Last Checked: Aug 3 at 5:53AM
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 The Boulos Company Portland
Investment Insights
Based on property information with market context.
This mixed-use building is located in the Old Port neighborhood of Portland, Maine. The property offers 4,830 square feet of space. Situated in one of Portland's fastest-appreciating neighborhoods, this building presents a commercial real estate opportunity.
Key Highlights
- Mixed‑use building in a prime Old Port location.
- Located in Portland's fastest‑appreciating neighborhood.
- Built in 1903, this is an excellent investment property.
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
$69,147
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
5.64%
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%
$1,382,940
$1.4M
Cap Rate 7%
$987,814
$987.8K
Cap Rate 9%
$768,300
$768.3K
Market Conditions
NOI Build-Up for 4,830 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
$105.5K $21.84/SF
− Vacancy
−$13.3K −$2.75/SF
EGI
$92.2K $19.09/SF
− OpEx
−$23.0K −$4.77/SF
NOI
$69.1K $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%
$1,382,940
Cap Rate 7%
$987,814
Cap Rate 9%
$768,300
Alternative Uses
Best Use
Office B
$987.8K
$864.3K – $1.15M
NOI $69,147 @ 7.0% cap · market cap 5.64%
Second Best
Mixed Use
$857.0K
$749.9K – $999.8K
NOI $59,989 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,927 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,433
Businesses Nearby
Explore this area
Business Placement
Demographics for 04101, ME
18,109
Population
11,510
Households
1.6
Avg Household Size
36
Median Age
57%
College-Educated
93%
High-School Grad
2.0 sq mi
ZIP Area
9,055
Density / Sq Mi
$60,726
Median Household Income
$45,009
Median Earnings
$1,457
Median Rent
$600,600
Median Home Value
Market
Vacancy Rate% for Office 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 - Mixed-use building in a rapidly appreciating Portland neighborhood.
Where is this mixed-use property located?
The property is located at 85 India St Portland, ME.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: Mixed‑use building in a prime Old Port location.; Located in Portland's fastest‑appreciating neighborhood.; Built in 1903, this is an excellent investment property.
