21 Chestnut Street 2, Portland, ME 04101

Building Details

Building Size 1,315 SF More

Year Built 2007 More

Tenancy Single More

Listing Agency: The Dunham Group

Listed By: Sylas Hatch · License ME #918821 Show Phone

Source: Waypointbrokers

Added: Apr 6 Changed: Nov 10 Last Checked: Nov 10 at 2:21PM

Report an Issue

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 The Dunham Group

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

Unit 2 is a 1,315-square-foot grocery and convenience store property completed in 2007. Peace Food Market has operated from the premises since 2009, and a newly signed lease provides a seven-year term.

The offering reflects a 10% capitalization rate calculated from first-year rental income.

Key Highlights

• 1,315‑square‑foot grocery and convenience store unit
• Built in 2007
• Newly signed lease with a seven‑year term

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,735

Cap Rate

4.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$294,700 $294.7K

Cap Rate 7%

$210,500 $210.5K

Cap Rate 9%

$163,722 $163.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,315 SF

Gross rent

$23.7K $18.00/SF

− Vacancy

−$4.0K −$3.06/SF

EGI

$19.6K $14.94/SF

− OpEx

−$4.9K −$3.74/SF

NOI

$14.7K $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%

$294,700

Cap Rate 7%

$210,500

Cap Rate 9%

$163,722

Alternative Uses

Best Use

Specialty Retail

$210.5K

$184.2K – $245.6K (±1% cap)

NOI $14,735 @ 7.0% cap · market cap 4.53%

Second Best

Retail

$196.5K

$171.9K – $229.2K (±1% cap)

NOI $13,752 @ 7.0% cap · market cap 4.23%

Theoretical Best

Office A

$361.4K

$316.3K – $421.7K (±1% cap)

NOI $25,300 @ 7.0% cap · market cap 7.78%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Peace Food Market Grocery & Convenience Store 21 Chestnut St ... Parking Lot & Garage Hair etc Hair Salon

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Locksmith Pet Grooming Service Auto Parts Store Tanning Salon Mobile Phone Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

6,504

Businesses Nearby

196k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 58% Hotels & Casinos 14% Dining 10% Shops & Services 9%

Trader Joe's Groceries

68,293 visits/mo 0.3 miles

Whole Foods Market Groceries

44,366 visits/mo 0.3 miles

Hampton Inn Portland Downtown Waterfront Hotels & Casinos

14,714 visits/mo 0.4 miles

Chipotle Mexican Grill Dining

11,557 visits/mo 0.4 miles

Reny's Apparel

10,314 visits/mo 0.3 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

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Similar For Sale Nearby

See more

Retail Condominium with Glass Storefront

490 Congress Street #101, Portland, ME 04101

$525,000

2,038 SF

View details

Convenience Store with Business

1227 Congress Street, Portland, ME 04102

$1,235,000

4,000 SF

View details

Mixed-Use Property with Three Apartments

45 Portland Street, Portland, ME 04101

$1,100,000

4,748 SF

View details

Mixed-Use Building with Apartments

637 Forest Avenue, Portland, ME 04101

$775,000

6,213 SF

View details

Mixed-Use Property With Multifamily Building

819829 819-829 Forest Ave, Portland, ME 04103

$2,000,000

4,200 SF

View details

Brick Retail Building

677 Forest Avenue, Portland, ME 04103

$1,495,000

4,922 SF

View details

Historic Mixed-Use Building

131 Middle Street, Portland, ME 04101

Contact for pricing

27,120 SF

View details

Retail Condominium with Exposed Brick

3 Gold Street, Portland, ME 04101

$369,000

924 SF

View details

Mixed-Use Property

193 Warren Avenue, Portland, ME 04103

$475,000

967 SF

View details

Two-Unit Duplex for Rehabilitation

15 Russell Street, Portland, ME 04102

$350,000

2,209 SF

View details

Two-Unit Duplex with Off-Street Parking

526 Washington Avenue, Portland, ME 04103

$480,000

1,866 SF

View details

Seasonal Island Restaurant and Bar

255 Diamond Avenue, Portland, ME 04109

$1,250,000

1,500 SF

View details

Similar Off Market Nearby

• Helm Oyster Bar + Bistro — 60 Thomas St, Portland, ME 04102, United States
• Cow Plaza 3 LLC — 465 Congress St, Portland, ME 04101
• Lucky Cheetah — 11 Moulton St, Portland, ME 04101
• The Garden Café — 20 Milk St, Portland, ME 04101
• Peace Food Market — 21 Chestnut St Unit 102, Portland, ME 04101

Frequently Asked Questions

What type of property is this?

Grocery and convenience store - The store is occupied under a newly executed seven-year lease.

Where is this grocery and convenience store located?

The property is located at 21 Chestnut Street 2 Portland, ME.

What is the asking price?

The asking price for this property is $325,000.

What are key features of this property?

This property features: 1,315‑square‑foot grocery and convenience store unit; Built in 2007; Newly signed lease with a seven‑year term