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    Property profile & analytics

    46 Market St Portland, ME 04101

    • Retail space
    • 8,288 SF
    • 0.05 lot acres
    For Sale
    View listing
    $3,100,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US42-0267454
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Blind Pig Barber Company / Barber Shop

    Property Details for 46 Market St

    Year built
    1900
    Lot size
    0.05 lot acres
    Property size
    8,288 SF
    Property type
    Retail space
    APN
    PTLD M:032 B:E010001
    APU
    PTLDM032BE010001

    Description

    This exceptional mixed-use property at 46 Market Street in Portland, Maine, presents a lucrative investment opportunity. The 8,228 square foot building, constructed in 1900 and extensively renovated in 2013, sits on a 0.47-acre lot and is zoned B3. The property boasts a compelling blend of commercial and residential space. The ground floor comprises two thriving businesses: a 2,100 square foot barber shop and a 2,100 square foot bistro. The upper two floors offer five luxurious studio apartments, providing a consistent stream of rental income. This unique combination of established commercial tenants and high-demand residential units creates a strong cash flow potential. The property's prime location in Portland's vibrant Market Street area ensures high visibility and accessibility. The 2013 renovation ensures the building is in excellent condition, minimizing immediate maintenance needs. This is a rare chance to acquire a well-established, high-performing mixed-use property in a desirable Maine location. The asking price is $3,600,000. This property is ideal for investors seeking a diversified portfolio with strong rental income and potential for future appreciation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,445,000
      6.5%
      $1,335,000
      7%
      $1,240,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $864,000
      Market price range: $381k - $865k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,680,000
      Current use
      OFFICE BUILDING
      $1,520,000
      Change: -10% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.2536
    Latitude
    43.6572
    CBSA code
    38860
    CBSA name
    PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $27,673
    $328,300
    $1,592,100
    $1,920,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      12,847 SF

      3 Commercial St

      Individual retail properties • 12,847 SF
      3 Commercial St, Portland, ME 04101
      View Details
    • Value Estimation
      $960,000
      7,277 SF

      47 India St

      RETAIL STORES (PERSONAL SERVICES) • 7,277 SF
      47 India St, Portland, ME 04101-4866
      View Details
    • Value Estimation
      $895,000
      6,496 SF

      7 Dana St

      RETAIL STORES (PERSONAL SERVICES) • 6,496 SF
      7 Dana St, Portland, ME 04101-4014
      View Details
    • Value Estimation
      $1,010,000
      7,248 SF

      5 Exchange St

      RETAIL STORES (PERSONAL SERVICES) • 7,248 SF
      5 Exchange St, Portland, ME 04101
      View Details
    • Value Estimation
      $1,665,000
      13,444 SF

      31 Exchange St

      RETAIL STORES (PERSONAL SERVICES) • 13,444 SF
      31 Exchange St, Portland, ME 04101-5017
      View Details
    • Value Estimation
      $1,330,000
      10,450 SF

      416 Fore St

      RETAIL STORES (PERSONAL SERVICES) • 10,450 SF
      416 Fore St, Portland, ME 04101-4027
      View Details

    Similar Nearby for Sale

    • $3,100,000
      8,228 SF

      Mixed-Use Property with Retail

      Mixed-use property featuring retail and luxury studio apartments.
      46 Market St, Portland, ME 04101
      View Details
    • $357,900
      1,193 SF

      Prime Old Port Retail Space

      Portland Waterfront Storefront - $357,900
      383 Commercial St, Portland, ME 04101
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    • $1,395,000
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      Prime Portland Storefront Investment

      Historic building, net-leased, high-growth area.
      85 India St, Portland, ME 04101
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    • $3,500,000
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      Portland Retail and Residential Buildings

      Retail and multifamily buildings with development potential in Portland.
      109 Congress St, Portland, ME 04101
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    • $2,000,000
      6,800 SF

      Retail Parcel For Sale

      Retail parcel with 5305 SF lot and 6800 SF building.
      360 Cumberland Ave, Portland, ME 04101
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    • $576,600
      1,922 SF

      Prime Old Port Retail Space

      1,922 SF Storefront, $576,600
      383 Commercial St, Portland, ME 04101
      View Details

    Similar Nearby for Lease

    • $27 SF/Yr
      48,912 SF

      Portland Retail Space - 5-Story Building

      Prime Portland retail, 48,912 sq ft, multiple tenants.
      157 Middle St, Portland, ME 04101
      View Details
    • $15 SF/Yr
      6,313 SF

      Renovated Retail Space Available

      Retail space with renovated facade and on-site parking.
      501 Forest Ave, Portland, ME 04101
      View Details
    • $35 SF/Yr
      27,554 SF

      Portland Retail Space - 27,554 SF

      Prime Portland storefront, multiple tenants. High-traffic location.
      127 Marginal Way, Portland, ME 04101
      View Details
    • $2,100 /Mo
      1,130 SF

      Downtown Portland Office/Retail Space

      Two office/retail spaces for lease in downtown Portland.
      415 Cumberland Ave, Portland, ME 04101
      View Details
    • $23 SF/Yr
      3,186 SF

      Portland Retail/Office Space For Rent

      Class A retail/office space in Portland's Bayside neighborhood.
      63 Marginal Way, Portland, ME 04101
      View Details
    • $2,500 /Mo
      1,555 SF

      Retail Space on Congress Street

      Retail space for lease in a high-visibility location.
      584 Congress St, Portland, ME 04101
      View Details
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    46 Market St
    Portland, ME 04101
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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