547 Congress StPortland, ME 04101

  • Other commercial real estate
  • 1,397 SF
For Sale
$1,300,000 View listing

Property Details for 547 Congress St

Year built
1875
Property size (Sq ft)
1,397 SF
Property type
Other 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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $264,367
    Hospitality
    $242,159
    Educational
    $201,473
    Medical
    $208,402
    Retail
    $313,403
547 Congress St, Portland, Maine

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

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
$5,136
$28,500
$327,900
$356,400
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