547 Congress StPortland, ME 04101
- Other commercial real estate
- 1,397 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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