547 Congress StPortland, ME 04101

Property Details for 547 Congress St

Year built

1875

Property size (Sq ft)

1,397 SF

Property type

Commercial real estate

APN

PTLD M:037 B:C01701A

APU

PTLDM037BC01701A

Description

This exceptional investment opportunity presents two fully leased retail condominiums located at 547 Congress Street in Portland, Maine. The property, encompassing 3,059 square feet across two units, boasts a 6.00% cap rate and 100% occupancy. Each unit, situated within a three-story building constructed in 1875 and renovated in 2018, benefits from designated basement storage. The 1,477± square foot unit is leased to Regards, and the 1,582± square foot unit is leased to Benny's. The property features a desirable location in downtown Portland, offering a walk score of 97, making it an ideal location for businesses and residents alike. The property is zoned B3 and has a remaining lease term of 5 years under a NNN lease structure. The asking price is $1,300,000, presenting a compelling 1031 exchange opportunity. The property's address is 547 Congress Street, Portland, ME 04101, and its APN is Map 37, Block C01701, Lot 1A. This is a single-tenancy property with two units in one building.

• Alternative Use

  Use

  Valuation

  Residential

  $264,367

  Hospitality

  $242,159

  Educational

  $201,473

  Medical

  $208,402

  Retail

  $313,403

Location Insight

City

Portland

County

Cumberland

State

Maine

Latitude

43.6557

Longitude

-70.2619

CBSA code

38860

CBSA name

PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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