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    57 Neal St Portland, ME 04102

    Sponsored
    For Sale
    $2,220,000

    West End gem, 11,206 sqft, 31 parking spaces

    Property size:
    11,206 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional mixed-use property, located at 57 Neal Street in Portland, Maine's desirable West End neighborhood, presents a rare development opportunity. The 11,206 square foot building sits on a 0.67-acre lot, offering significant potential for expansion or redevelopment. The property includes a valuable 31-space parking lot, a highly sought-after amenity in this vibrant urban area. Its location directly adjacent to downtown Portland provides unparalleled access to the city's amenities, businesses, and thriving cultural scene. Currently zoned R-6, the property is poised to benefit from the proposed Portland ReCode zoning changes, anticipated to designate the area as RN-4. This presents a unique chance to capitalize on future zoning updates and maximize the property's potential. The building itself offers substantial existing space, while the approximately one-third acre of excess land provides ample room for expansion or new construction. This remarkable property is being offered for sale for the first time in over a century, representing a truly exceptional investment opportunity for discerning buyers. The combination of prime location, existing infrastructure, and future zoning potential makes this a truly unparalleled offering in the heart of Portland.

    Property Features for 57 Neal St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    11,206 SF
    Lot Size
    29,185 SF

    Building Details

    Year Built
    1914
    Property Profile Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.27155
    Latitude
    43.64877

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    FAQs

    What type of property is this?
    Mixed-use property - West End gem, 11,206 sqft, 31 parking spaces
    Where is this mixed-use property located?
    The property is located at 57 Neal St Portland, ME.
    What is the asking price?
    The asking price for this property is $2,220,000.
    (207) 772-1333
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    57 Neal St Portland, ME 04102
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    Portland, ME 04102
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    57 Neal St Portland, ME 04102
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