Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    383 Commercial St Portland, ME

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    New construction retail space in Portland's Waterfront area.

    Type:RETAIL
    Property size:
    1,457 SF
    Lot size:
    2.41 Acres
    Price / SF:
    $403/SF
    Added:
    Nov 1, 2022
    Days on Market:
    1276
    Last Refresh:
    Apr 5 at 8:17 pm

    Property Features for 383 Commercial St

    General Information

    Standard status
    Active
    Size
    1,457 SF
    Lot size
    2.41 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Jennifer Small

    Listing agent Jennifer Small

    Listing office Malone Commercial Brokers

    Listing date Nov 1, 2022

    Source Moodyscre

    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

    Overview

    Retail Space in Old Port

    This property offers new construction retail space in the Old Port area, with available spaces ranging from 1,457 to 3,379 square feet on the first floor. The location provides excellent visibility on Portland’s Waterfront, benefiting from traffic counts of approximately 14,730 cars per day. The area has a walk score of 92, indicating it is highly walkable. The property is surrounded by hotels, retail establishments, offices, restaurants, and residential condos.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hobson's landing Condominium Complex ChargePoint Charging Station Electric Vehicle Charging Station Maine Dentistry Dental Office

    Suggested Use

    Real Estate Agency Dental Office Spa & Massage Center Restaurant Hair Salon Nail Salon Building Supply Daycare Center Auto Repair Shop Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.2573
    Latitude
    43.6521

    Nearby Similar for Sale

    • $369,000
      924 SF

      Retail Condo in Old Port

      Retail condominium unit in Portland's historic Old Port.
      3 Gold Street, Portland, ME 04101
      View Details
    • $499,000
      2,061 SF

      Historic Colonial Multifamily Waterfront Property

      Historic Portland multifamily property with waterfront access and expansion potential.
      1227 Westbrook Street, Portland, ME 04102
      View Details
    • $895,000
      3,800 SF

      Portland Multifamily Investment Opportunity

      Five-unit property in a desirable Portland neighborhood with upside potential.
      57-59 Cumberland Avenue, Portland, ME 04101
      View Details
    • $1,190,000
      5,102 SF

      Downtown Portland Freestanding Office Building

      5,000 SF office building in the heart of Portland.
      7 Forest Avenue, Portland, ME 04101
      View Details
    • $749,900
      3,568 SF

      Portland West End Triplex

      Historic triplex in Portland's West End with urban convenience.
      3 Crescent Street, Portland, ME 04102
      View Details
    • $1,595,000
      3,842 SF

      West End Bed & Breakfast

      Turn-key hospitality asset in Portland's West End.
      15 Pine Street, Portland, ME 04102
      View Details
    • $895,000
      3,948 SF

      Mixed-Use Property in Prime Location

      Mixed-use property with retail space and renovated residential unit.
      777 Forest Avenue, Portland, ME 04103
      View Details
    • $625,000
      2,910 SF

      Portland Retail Opportunity For Sale

      Retail property in Portland, Maine, available for purchase.
      1435 Forest Avenue, Portland, ME 04103
      View Details
    • $699,000
      2,122 SF

      Portland Two-Unit Colonial on Corner Lot

      Well-maintained two-unit property with income potential in a convenient location.
      22 Bailey Avenue, Portland, ME 04103
      View Details
    • $650,000
      2,612 SF

      Portland Duplex with Attic Potential

      Investment opportunity: spacious units, attic potential, convenient location.
      605 Washington Avenue, Portland, ME 04103
      View Details
    • $845,000
      2,464 SF

      Portland Multifamily Building For Sale

      Four-unit apartment building in Portland's West End with future upgrades.
      53 Tyng Street, Portland, ME 04102
      View Details
    • $895,000
      3,948 SF

      Portland Mixed-Use Income Property

      High-visibility mixed-use property with retail and residential units.
      777 Forest Avenue, Portland, ME 04103
      View Details

    FAQs

    What type of property is this?
    Retail space - New construction retail space in Portland's Waterfront area.
    Where is this retail space located?
    The property is located at 383 Commercial St Portland, ME.
    What is the asking price?
    The asking price for this property is $588,000.
    What are key features of this property?
    This property features: New construction retail space in the Old Port.; Excellent visibility on Portland's Waterfront.; High walk score of 92.
    (207) 772-2422 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jennifer Small
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!