46 Market StPortland, ME 04101

Property Details for 46 Market St

Year built

1900

Lot size

0.05 AC

Property size (Sq ft)

8,288 SF

Property type

Retail properties

Property subtype

Retail space

APN

PTLD M:032 B:E010001

APU

PTLDM032BE010001

Description

This exceptional mixed-use property at 46 Market Street in Portland, Maine, presents a lucrative investment opportunity. The 8,228 square foot building, constructed in 1900 and extensively renovated in 2013, sits on a 0.47-acre lot and is zoned B3. The property boasts a compelling blend of commercial and residential space. The ground floor comprises two thriving businesses: a 2,100 square foot barber shop and a 2,100 square foot bistro. The upper two floors offer five luxurious studio apartments, providing a consistent stream of rental income. This unique combination of established commercial tenants and high-demand residential units creates a strong cash flow potential. The property's prime location in Portland's vibrant Market Street area ensures high visibility and accessibility. The 2013 renovation ensures the building is in excellent condition, minimizing immediate maintenance needs. This is a rare chance to acquire a well-established, high-performing mixed-use property in a desirable Maine location. The asking price is $3,600,000. This property is ideal for investors seeking a diversified portfolio with strong rental income and potential for future appreciation.

• CAP approach

  CAP return

  Valuation

  6%

  $2,014,273

  6.5%

  $1,859,329

  7%

  $1,726,520

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,728,934

  Geo Method

  $2,728,934

• Alternative Use

  Use

  Valuation

  Residential

  $1,568,414

  Hospitality

  $1,436,659

  Educational

  $1,195,283

  Medical

  $1,236,391

  Retail

  $1,859,329

Location Insight

City

Portland

County

Cumberland

State

Maine

Latitude

43.6572

Longitude

-70.2536

CBSA code

38860

CBSA name

PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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