Professional and Medical Office
1685 Congress St Portland, ME 04102
1685 Congress St, Portland, ME, 04102
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For Sale
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32,134± SF office building on an 8.92± acre lot, fully occupied by long-term NNN tenants.
Property Size32,134 SF
Lot Size8.92 Acres
Price / SF$245.85
Days on Market198
Property Features for 1685 Congress St
General Information
- Standard status
- Active
- Size
- 32,134 SF
- Lot size
- 8.92 Acres
- Property subtype
- OFFICE
Listing agency
Malone Commercial Brokers
(207) 772-8300
Listed by
John F. Doyon, CCIM · License #212294
(207) 772-8300
Source
Moodyscre
Added: Jan 5 Updated: Jul 21 at 1:27PM Checked: Jul 21 at 1:27PM
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
Investment Insights
Based on property information with market context.
Stroudwater Crossing is a 32,134± SF professional and medical office building situated on an 8.92± acre lot. The property is 100% occupied by long-term NNN tenants.
The building is in a central area between The Maine Mall and Downtown Portland, with easy access from I-295 and I-95. Ample parking is provided at a 5:1 ratio.
For sale as an income-producing property, the reported NOI is $585,799.00.
The building is in a central area between The Maine Mall and Downtown Portland, with easy access from I-295 and I-95. Ample parking is provided at a 5:1 ratio.
For sale as an income-producing property, the reported NOI is $585,799.00.
Key Highlights
- 32,134± SF professional/medical office building on 8.92± AC lot
- 100% occupied with long‑term NNN tenants
- NOI of $585,799.00
Local Financial Insights For Healthcare Medical
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 | $867.6k | $27.00 |
| − Vacancy | −$87.5k | −$2.72 |
| EGI | $780.1k | $24.28 |
| − OpEx | −$312.0k | −$9.71 |
| NOI | $468.0k | $14.57 |
32,134 SF · lease $27.00/SF/yr · vacancy 10.09% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$6.69M
$5.85M – $7.80M
NOI $468,045 @ 7.0% cap · market cap 5.92%
Second Best
Office B
$6.57M
$5.75M – $7.67M
NOI $460,034 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$8.83M
$7.73M – $10.30M
NOI $618,244 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
JasonGardenierMD
Physician
Maxim Healthcare Services ...
Home Health Care Service
Sexton Rosemary G
Physician
Dr. Debra A. Fuchs ...
Physician
Kim Brown - CMG ...
Loan Service
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FAQs
What type of property is this?
Office building - 32,134± SF office building on an 8.92± acre lot, fully occupied by long-term NNN tenants.
Where is this office building located?
The property is located at 1685 Congress St Portland, ME.
What is the asking price?
The asking price for this property is $7,900,000.
What are key features of this property?
This property features: 32,134± SF professional/medical office building on 8.92± AC lot; 100% occupied with long‑term NNN tenants; NOI of $585,799.00
