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    Prime Retail Space on Riverside Street Title is generated by Realmo AI

    375 Riverside St, Portland, ME 04103

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    High-visibility retail space for sale or lease near I-95.

    Type:RETAIL
    Property size:
    26,285 SF
    Lot size:
    2.80 Acres
    Price / SF:
    $144/SF
    Added:
    Oct 5, 2023
    Days on Market:
    983
    Last Refresh:
    Apr 5 at 8:17 pm

    Property Features for 375 Riverside St

    General Information

    Standard status
    Active
    Size
    26,285 SF
    Lot size
    2.80 Acres
    Property subtype
    RETAIL

    Properties For Sale

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    Listing Contact
    Steve M Baumann

    Listing agent Steve M Baumann

    Listing office Compass Commercial Brokers, LLC

    Listing date Oct 5, 2023

    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 Compass Commercial Brokers, LLC

    HighLights

    • Unmatched accessibility and visibility - just a mile from I‑95 (Exit 48) and Rock Row Development.
    • High traffic count of 18,300 AADT and approximately 300 feet of road frontage, providing outstanding retail visibility.
    • Flexible layout options ranging from 3,050‑26,285+\/- SF, suitable for a diverse range of retail users.
    • High “lease‑ability” enhances its value and potential for repurposing, making it an attractive investment.
    • Located in a rapidly growing area of Greater Portland, near strong local and national brands.
    • Exterior renovations to commence and be completed Fall 2025.

    Overview

    Located at 375 Riverside Street in Portland, Maine, this property presents an opportunity for sale or lease. Exterior renovations are scheduled to commence and be completed in Fall 2025. The property is situated approximately one mile from Exit 48 of I-95 and the Rock Row Development, offering accessibility and visibility. The location benefits from a traffic count of 18,300 AADT (2019) and approximately 300 feet of road frontage, providing retail visibility along a busy corridor. Layout options range from approximately 3,050 to over 26,285 square feet, accommodating a variety of retail users. The property's lease-ability enhances its value and potential for repurposing, making it an option for investors. The property is located in a growing area of Greater Portland, near Home Depot, Berlin City Toyota, Empeople Credit Union, REI, and Chick-fil-A.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $473.1k $18.00
    − Vacancy −$80.4k −$3.06
    EGI $392.7k $14.94
    − OpEx −$117.8k −$4.48
    NOI $274.9k $10.46
    26,285 SF · lease $18.00/SF/yr · vacancy 17.00% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $3.93M
    $3.44M – $4.58M (±1% cap)
    NOI $274,889 @ 7.0% cap · market cap 7.24%
    Second Best
    no second resolved use
    Theoretical Best
    Office A
    $7.22M
    $6.32M – $8.43M (±1% cap)
    NOI $505,712 @ 7.0% cap · market cap 13.33%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Big Moose Harley-Davidson Motorcycle Shop EagleRider Motorcycle Rentals ... Car Rental Facility ChargePoint Charging Station Electric Vehicle Charging Station

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.3265
    Latitude
    43.6887

    FAQs

    What type of property is this?
    Retail property - High-visibility retail space for sale or lease near I-95.
    Where is this retail property located?
    The property is located at 375 Riverside St Portland, ME.
    What is the asking price?
    The asking price for this property is $3,795,000.
    What are key features of this property?
    This property features: Unmatched accessibility and visibility - just a mile from I‑95 (Exit 48) and Rock Row Development.; High traffic count of 18,300 AADT and approximately 300 feet of road frontage, providing outstanding retail visibility.; Flexible layout options ranging from 3,050‑26,285+\/- SF, suitable for a diverse range of retail users.
    (207) 831-4063 Call to check price and availability
    More about this property
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