Three-Building Mixed-Use
For Sale
Contact for pricing
95 Main Street, South Portland, ME 04106
Commercial zoning with two buildings currently available for lease or occupancy.
Property Size20,194 SF
Price / SF$153.51
Days on Market57
Property Features for 95 Main Street
General Information
Standard status
Active
Size
20,194 SF
Property subtype
Retail, Industrial, Mixed Use
Zoning
Commercial
Additional Details
Highway Access
Yes
Building Details
Buildings
3
Listing Agency:
The Dunham Group
Listed By:
Greg Hastings · License #ME 209023
Source:
Crexi
Added: Jul 28
Changed: Sep 19
Last Checked: Sep 21 at 6:54AM
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 Dunham Group
Investment Insights
Based on property information with market context.
This mixed-use property includes three buildings, with two currently available for lease or occupancy. The identified buildings contain approximately 11,850 SF and 4,500 SF, providing distinct spaces within the overall compound. Commercial zoning supports the property’s stated mixed-use classification.
The address is 95 Main Street in South Portland, Maine. The property is located less than one mile from I-295 and Veterans Memorial Bridge. Northbound and southbound I-295 access is expected to become possible after completion of the bridge work. The property is positioned for either owner occupancy or investment ownership, as described in the available information.
The address is 95 Main Street in South Portland, Maine. The property is located less than one mile from I-295 and Veterans Memorial Bridge. Northbound and southbound I-295 access is expected to become possible after completion of the bridge work. The property is positioned for either owner occupancy or investment ownership, as described in the available information.
Key Highlights
- Three‑building mixed‑use property
- 11,850± SF building currently available for lease or occupancy
- 4,500± SF building currently available for lease or occupancy
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
$250,809
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
8.09%
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%
$5,016,180
$5.0M
Cap Rate 7%
$3,582,986
$3.6M
Cap Rate 9%
$2,786,767
$2.8M
Market Conditions
NOI Build-Up for 20,194 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
$436.2K $21.60/SF
− Vacancy
−$34.9K −$1.73/SF
EGI
$401.3K $19.87/SF
− OpEx
−$150.5K −$7.45/SF
NOI
$250.8K $12.42/SF
Area
Cumberland County, ME
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$5,016,180
Cap Rate 7%
$3,582,986
Cap Rate 9%
$2,786,767
Alternative Uses
Best Use
Mixed Use
$3.58M
$3.14M – $4.18M
NOI $250,809 @ 7.0% cap · market cap 8.09%
Second Best
Industrial
$1.85M
$1.62M – $2.15M
NOI $129,223 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$5.55M
$4.86M – $6.48M
NOI $388,524 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
284
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial zoning with two buildings currently available for lease or occupancy.
Where is this mixed-use property located?
The property is located at 95 Main Street South Portland, ME.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Three‑building mixed‑use property; 11,850± SF building currently available for lease or occupancy; 4,500± SF building currently available for lease or occupancy
