Exceptional Mixed-Use Investment Opportunity in South Portland
Rare opportunity to acquire a well-maintained, income-producing mixed-use property in a highly visible Main Street location. This versatile three-unit building offers a diversified income stream with a gross annual income of $70,800, anchored by an established medical office occupying the entire first floor, providing the benefit of stable commercial tenancy.
The two residential units above provide additional rental income and strong tenant appeal. Each residential unit features its own washer and dryer, while tenants are responsible for their own heat and electricity -- helping reduce owner expenses and maximize net operating income.
Meticulously cared for and truly turnkey, the property offers desirable amenities including off-street parking for up to three residential vehicles, additional on-street parking for tenants, clients, and guests, and convenient access to public transportation.
Ideally positioned along South Portland's Main Street corridor, this property is close to local businesses, shopping, dining, downtown Portland, major commuter routes, and area amenities. With proven rental history, strong tenant demand, diversified commercial and residential income, and excellent visibility, this is a rare opportunity to own a stable, cash-flowing investment property in one of Southern Maine's most desirable markets.
Active
Price cut: $46K (8/2)
$849,000
597 Main Street, South Portland, ME 04106
6beds
3,630sqft
Multi Family
Built in 1920
-- sqft lot
$-- Zestimate®
$234/sqft
$-- HOA
What's special
- 83 days
- 501
- 23
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
Dream Home Realty LLC
Source: Maine Listings,MLS#: 1665990
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 3
- Full bathrooms: 2
Heating
- Heat Pump
Cooling
- Heat Pump
Features
- Flooring: Carpet, Linoleum, Luxury Vinyl
- Windows: Double Pane Windows
- Basement: Exterior Entry,Interior Entry,Full,Unfinished,Brick/Mortar
Interior area
- Total structure area: 3,630
- Total interior livable area: 3,630 sqft
- Finished area above ground: 3,630
- Finished area below ground: 0
Property
Parking
- Parking features: Common, Paved, 1 - 4 Spaces, Assigned, Off Street, On Street
- Has uncovered spaces: Yes
Features
- Levels: Multi/Split
- Patio & porch: Porch
Lot
- Size: 6,969 Square Feet
- Features: Business District, Near Shopping, Near Turnpike/Interstate, Near Town, Corner Lot, Level, Sidewalks, Landscaped
Details
- Additional structures: Shed(s)
- Parcel number: SPORM053L272
- Zoning: LB
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Colonial
- Property subtype: Multi Family
Materials
- Wood Frame, Vinyl Siding
- Foundation: Poured Concrete, Brick/Mortar
- Roof: Shingle
Condition
- Year built: 1920
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: Public Sewer
- Water: Public
Community & HOA
Location
- Region: South Portland
Financial & listing details
- Price per square foot: $234/sqft
- Tax assessed value: $663,900
- Annual tax amount: $9,062
- Date on market: 6/9/2026
- Road surface type: Paved
Estimated market value
Not available
Estimated sales range
Not available
$2,413/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/2/2026 | Price change | $849,000-5.1%$234/sqft |
Source: | ||
| 6/9/2026 | Listed for sale | $895,000$247/sqft |
Source: | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $8,763 +20.2% | $663,900 +28.8% |
| 2023 | $7,291 +5% | $515,600 +15.6% |
| 2022 | $6,943 +14.3% | $446,200 +45.1% |
| 2020 | $6,073 0% | $307,500 |
| 2019 | $6,073 +6.8% | $307,500 |
| 2018 | $5,689 +2.8% | $307,500 |
| 2017 | $5,535 +1.7% | $307,500 |
| 2016 | $5,443 +1.7% | $307,500 |
| 2015 | $5,351 +1.8% | $307,500 |
| 2014 | $5,258 | $307,500 |
Find assessor info on the county website
Monthly payment
Est. payment







