Restaurant Condo with Outdoor
For Sale
$725,000
11 Brown Street, Portland, ME 04101
Restaurant and bar space includes a full kitchen, private patio, and dedicated lower-level storage and support areas.
Property Size5,352 SF
Price / SF$135.46
Days on Market177
Property Features for 11 Brown Street
General Information
Standard status
Active
Size
5,352 SF
Property subtype
Retail
Restaurant
Commercial Hood
Yes
Grease Trap
Yes
Patio
Yes
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$13,427
Amenities
private outdoor patio
Building Details
Building Size
5,352 SF
Year Built
1875
Listing Agency:
Malone Commercial Brokers, Inc.
Listed By:
Peter Harrington · License #BA900499
(207) 772-2422
Source:
Heathershieldsmaine
Added: Apr 13
Changed: Sep 30
Last Checked: Oct 5 at 10:37PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Malone Commercial Brokers, Inc.
Investment Insights
Based on property information with market context.
This restaurant condominium at 11 Brown Street in Portland, Maine, contains 5,352 SF of commercial space. The main level provides 3,088 SF configured for restaurant and bar operations, with a full kitchen and included equipment such as a hood, grease trap, stoves, and sinks. A large private outdoor patio extends the usable customer area.
The 2,264 SF lower level provides operational support, including an office, walk-in freezers, fire safety equipment, and multiple storage rooms. Built in 1875, the property combines an established building footprint with dedicated restaurant infrastructure and back-of-house areas suited to continued food-service use.
The 2,264 SF lower level provides operational support, including an office, walk-in freezers, fire safety equipment, and multiple storage rooms. Built in 1875, the property combines an established building footprint with dedicated restaurant infrastructure and back-of-house areas suited to continued food-service use.
Key Highlights
- 5,352 SF retail condominium with 3,088+- SF of restaurant/bar space
- Full kitchen equipment included, including hood, grease trap, stoves, and sinks
- Large private outdoor patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,969
Cap Rate
8.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,199,380
$1.2M
Cap Rate 7%
$856,700
$856.7K
Cap Rate 9%
$666,322
$666.3K
Market Conditions
NOI Build-Up for 5,352 SF
Gross rent
$96.3K $18.00/SF
− Vacancy
−$16.4K −$3.06/SF
EGI
$80.0K $14.94/SF
− OpEx
−$20.0K −$3.74/SF
NOI
$60.0K $11.21/SF
Area
Cumberland County, ME
Vacancy
17.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,199,380
Cap Rate 7%
$856,700
Cap Rate 9%
$666,322
Alternative Uses
Best Use
Specialty Retail
$856.7K
$749.6K – $999.5K
NOI $59,969 @ 7.0% cap · market cap 8.27%
Second Best
Industrial
$489.3K
$428.1K – $570.8K
NOI $34,248 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $102,970 @ 7.0% cap · market cap 14.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Commercial hood
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
6,425
Businesses Nearby
210k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 54%
Hotels & Casinos 13%
Shops & Services 13%
Dining 12%
Trader Joe's
Groceries
68,293 visits/mo
0.4 miles
Whole Foods Market
Groceries
44,366 visits/mo
0.4 miles
Hampton Inn Portland Downtown Waterfront
Hotels & Casinos
14,714 visits/mo
0.4 miles
Circle K
Shops & Services
12,170 visits/mo
0.5 miles
Chipotle Mexican Grill
Dining
11,557 visits/mo
0.5 miles
Demographics for 04101, ME
18,109
Population
11,510
Households
1.6
Avg Household Size
36
Median Age
57%
College-Educated
93%
High-School Grad
2.0 sq mi
ZIP Area
9,055
Density / Sq Mi
$60,726
Median Household Income
$45,009
Median Earnings
$1,457
Median Rent
$600,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant and bar space includes a full kitchen, private patio, and dedicated lower-level storage and support areas.
Where is this conventional restaurant located?
The property is located at 11 Brown Street Portland, ME.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 5,352 SF retail condominium with 3,088+- SF of restaurant/bar space; Full kitchen equipment included, including hood, grease trap, stoves, and sinks; Large private outdoor patio
