Six-Suite Office
For Sale
$599,900
918 Broadway, South Portland, ME 04106
Older office property with private suites, period detailing, and dedicated off-street parking.
Property Size3,155 SF
Price / SF$190.14
Days on Market96
Property Features for 918 Broadway
General Information
Standard status
Active
Size
3,155 SF
Additional Details
Office Units
6
Amenities
hardwood floors
fireplace
Building Details
Year Built
1910
Listing Agency:
The Atlantic Real Estate Network
Listed By:
Joseph Flynn
(207) 878-8800
Source:
Aroostookrealestate
Added: Jul 12
Changed: Oct 4
Last Checked: Oct 7 at 1:31PM
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 Atlantic Real Estate Network
Investment Insights
Based on property information with market context.
Built in 1910, this 3,155-square-foot office building contains 6 private office suites within an older structure featuring hardwood floors and a fireplace. The layout offers multiple separate office environments suited to professional occupancy, while the building’s period details add character distinct from a typical contemporary office setting.
The property includes a large off-street parking lot with capacity for 6+ cars. Public remarks identify visibility on Main Street and an 18,000+ daily traffic count, although the recorded address is 918 Broadway, South Portland, ME 04106.
The property includes a large off-street parking lot with capacity for 6+ cars. Public remarks identify visibility on Main Street and an 18,000+ daily traffic count, although the recorded address is 918 Broadway, South Portland, ME 04106.
Key Highlights
- 6 private office suites within a 3,155‑square‑foot building
- Built in 1910
- Hardwood floors and fireplace provide period character
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,167
Cap Rate
7.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$903,340
$903.3K
Cap Rate 7%
$645,243
$645.2K
Cap Rate 9%
$501,856
$501.9K
Market Conditions
NOI Build-Up for 3,155 SF
Gross rent
$68.9K $21.84/SF
− Vacancy
−$8.7K −$2.75/SF
EGI
$60.2K $19.09/SF
− OpEx
−$15.1K −$4.77/SF
NOI
$45.2K $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 Rate 5%
$903,340
Cap Rate 7%
$645,243
Cap Rate 9%
$501,856
Alternative Uses
Best Use
Office B
$645.2K
$564.6K – $752.8K
NOI $45,167 @ 7.0% cap · market cap 7.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$867.2K
$758.8K – $1.01M
NOI $60,701 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
6
Office units
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Explore this area
Business Placement
Demographics for 04106, ME
26,641
Population
12,849
Households
2.1
Avg Household Size
41
Median Age
49%
College-Educated
95%
High-School Grad
12.2 sq mi
ZIP Area
2,184
Density / Sq Mi
$83,744
Median Household Income
$47,818
Median Earnings
$1,642
Median Rent
$403,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Office building - Older office property with private suites, period detailing, and dedicated off-street parking.
Where is this office building located?
The property is located at 918 Broadway South Portland, ME.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 6 private office suites within a 3,155‑square‑foot building; Built in 1910; Hardwood floors and fireplace provide period character
