For Sale
$2,700,000

14 Veranda StPortland, ME 04103

Prime Portland office portfolio, redevelopment potential.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a three-building portfolio totaling 7,341 square feet on a 0.46-acre lot in Portland, Maine. Located at 513 Washington Avenue, 14 Veranda Street, and 18 Veranda Street, this Class B property boasts a strategic location off I-295, at a four-way lighted intersection near the future Roux Institute entrance. Built in 1910, the two-story buildings are zoned B-2, offering diverse redevelopment possibilities. The portfolio features short-term leases, mitigating carrying costs. With an average annual daily traffic count of 29,080 vehicles and approximately 255 feet of frontage on Veranda Street, the properties are ideally suited for residential, hotel, or mixed-use development. The asking price is $2,700,000, with seller financing available at a competitive rate. The portfolio's APN is 19599/288. This is a rare chance to acquire a significant property in a rapidly growing area of Portland. The property is owned by Rockprop, LLC.

Highlights

  • Diverse redevelopment opportunities with short-term leases minimizing carrying costs.
  • High-traffic location with 29,080 VPD and 255' of frontage on Veranda Street, ideal for residential, hotel, or mixed-use development.
  • $2,700,000 sale price; seller financing available.

Property Details for 14 Veranda St

Property type
Office properties
Square Feet
7,341 SF
Class
B
Year Built
1910
Buildings
3
Stories
2
Lot Size (sq. ft)
20,038 SF

Location Insight

City
Portland
County
Cumberland
State
Maine
Latitude
43.680536203739
Longitude
-70.257342672336
14 Veranda St, Portland, Maine

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14 Veranda St
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