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    540 Congress St Portland, ME 04101

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    For Lease
    $4,295,000

    Mixed-use building with retail and residential units in downtown Portland.

    Property size:
    27,800 SF
    Lot size:
    0.58 Acres

    Property Features for 540 Congress St

    General Information

    Size
    27,800 SF
    Lot size
    0.58 Acres

    Source: The Boulos Company Agent Cameron Foster

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Downtown Portland Mixed-Use Building

    This mixed-use building, constructed in the Art Deco style, is situated in downtown Portland, offering prominent visibility with frontage on both Congress Street and Free Street. The first floor features a condominium built out as approximately 25,800 square feet of climate-controlled retail space, supported by approximately 1,800 square feet of warehouse space, and approximately 1,200 square feet of office space. The second floor comprises four leased residential condominiums, accessible via a stairwell on Congress Street. There is a value-add component through the upstairs residential condominiums and the potential for a new owner to build more units.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Renys Department Store Department Store October Corporation Farm

    Suggested Use

    Realty agency Restaurant Dental Office Spa & Massage Hair Salon Law Firm Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.2613963
    Latitude
    43.6555168

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use building with retail and residential units in downtown Portland.
    Where is this mixed-use property located?
    The property is located at 540 Congress St Portland, ME.
    What are key features of this property?
    This property features: - Prominent visibility with frontage on both Congress Street & Free Street.; - 25,800± SF of climate-controlled retail space on the 1st floor.; - Mixed-use building in the heart of downtown Portland.
    (703) 717-1660
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    540 Congress St Portland, ME 04101
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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
    540 Congress St Portland, ME 04101
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