3 Canal PlzPortland, ME 04101

Property Details for 3 Canal Plz

Year built

1980

Lot size

0.28 AC

Property size (Sq ft)

75,655 SF

Property type

Office properties

Property subtype

Office buildings

APN

PTLD M:032 B:I023001

APU

PTLDM032BI023001

Description

This exceptional six-story office building, located at 3 Canal Plaza in Portland, Maine, offers 65,162 square feet of traditional office space. Situated on a 0.55-acre lot, this single building property is zoned B-3 Downtown Business, providing excellent access to the city's vibrant commercial core. The building features multiple tenancies, making it ideal for a variety of business needs. Convenient amenities include elevators for easy access to all six floors. The property's central location in Cumberland County, with a Portland, ME 04101 zip code, ensures high visibility and accessibility for employees and clients alike. This is a rare opportunity to acquire a substantial, well-maintained office building in a highly desirable downtown location. The building's size and zoning offer significant potential for future development or expansion. Its established tenant base provides a stable income stream, making it an attractive investment for discerning buyers. The property's prime location within Portland's business district offers unparalleled access to amenities, transportation, and a thriving workforce. This is a turnkey opportunity to own a significant piece of Portland's commercial real estate landscape. Interested parties are encouraged to inquire for further details and to schedule a viewing.

• CAP approach

  CAP return

  Valuation

  6%

  $12,508,031

  6.5%

  $11,545,875

  7%

  $10,721,170

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,885,082

  Geo Method

  $9,885,082

• Alternative Use

  Use

  Valuation

  Residential

  $14,316,885

  Hospitality

  $13,114,190

  Educational

  $10,910,852

  Medical

  $11,286,093

  Retail

  $16,972,436

Location Insight

City

Portland

County

Cumberland

State

Maine

Latitude

43.6572

Longitude

-70.2552

CBSA code

38860

CBSA name

PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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