64 Auburn StPortland, ME 04103

Property Details for 64 Auburn St

Year built

1950

Lot size

0.82 AC

Property size (Sq ft)

8,564 SF

Property type

Retail properties

Property subtype

Retail space

APN

PTLD M:375 B:A003001

APU

PTLDM375BA003001

Description

This exceptional Portland, Maine investment property presents a compelling value-add opportunity. Located at 64 Auburn St, in Cumberland County (zip code 04103), this 0.82-acre site boasts three buildings totaling 9,000 square feet across two stories. Currently housing a cherished possessions consignment shop and a restaurant/pub, both under the same ownership and available for a potential lease-back arrangement. The property, built in 1950 and renovated in 2010, is classified as a Class B multifamily and retail property with two units and two tenants. The permitted B1 zoning allows for diverse uses, including high-density residential development, maximizing investment potential. Its strategic location on busy Auburn Street, across from Shaws Plaza and near the Maine Turnpike, ensures high visibility and accessibility. The property's occupancy date is January 1, 2025. The asking price is $1,850,000. There is no credit rating available for the tenants. The possibility of acquiring adjacent land further enhances this already attractive investment prospect. This is a multi-tenant property with no credit rating provided for the tenants.

• CAP approach

  CAP return

  Valuation

  6%

  $2,081,351

  6.5%

  $1,921,247

  7%

  $1,784,015

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,819,810

  Geo Method

  $2,819,810

• Alternative Use

  Use

  Valuation

  Residential

  $1,620,644

  Hospitality

  $1,484,501

  Educational

  $1,235,087

  Medical

  $1,277,564

  Retail

  $1,921,247

Location Insight

City

Portland

County

Cumberland

State

Maine

Latitude

43.7024

Longitude

-70.2898

CBSA code

38860

CBSA name

PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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