Three-Story Retail
For Sale
Contact for pricing
28 Monument Sq, Portland, ME 04101
Multi-tenant food hall with established commercial occupancy across three floors in Monument Square.
Property Size8,229 SF
Price / SF$206.46
Days on Market254
Property Features for 28 Monument Sq
General Information
Standard status
Active
Size
8,229 SF
Property subtype
RETAIL
Additional Details
Asking Price
$1,699,000
Building Details
Tenancy
Multi
Listing Agency:
The Boulos Company
(207) 272-2385
Listed By:
Nate Stevens, SIOR
(207) 272-2385
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Jul 31
Last Checked: Aug 5 at 2:06PM
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 Boulos Company
Investment Insights
Based on property information with market context.
This 8,229 SF retail condominium spans three floors and is currently operating as a multi-tenant food hall with tenants in place. The property offers an established commercial configuration within Monument Square and may support future redevelopment, subject to applicable approvals and requirements.
Located at 28 Monument Sq in Portland, the property is positioned in a high-visibility setting with foot traffic. Five projects are underway nearby as part of ongoing revitalization in Monument Square.
Located at 28 Monument Sq in Portland, the property is positioned in a high-visibility setting with foot traffic. Five projects are underway nearby as part of ongoing revitalization in Monument Square.
Key Highlights
- 8,229± SF retail condominium across three floors
- Currently operating as a multi‑tenanted food hall
- Tenants in place
Financial Insights For Specialty 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 | $148.1k | $18.00 |
| − Vacancy | −$25.2k | −$3.06 |
| EGI | $122.9k | $14.94 |
| − OpEx | −$30.7k | −$3.74 |
| NOI | $92.2k | $11.21 |
8,229 SF · lease $18.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.32M
$1.15M – $1.54M
NOI $92,206 @ 7.0% cap · market cap 5.43%
Second Best
Retail
$1.23M
$1.08M – $1.43M
NOI $86,059 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,322 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,425
Businesses Nearby
210k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 54%
Hotels & Casinos 13%
Shops & Services 13%
Dining 12%
Trader Joe's
Groceries
68,293 visits/mo
0.4 miles
Whole Foods Market
Groceries
44,366 visits/mo
0.4 miles
Hampton Inn Portland Downtown Waterfront
Hotels & Casinos
14,714 visits/mo
0.4 miles
Circle K
Shops & Services
12,170 visits/mo
0.5 miles
Chipotle Mexican Grill
Dining
11,557 visits/mo
0.5 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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Multi-tenant food hall with established commercial occupancy across three floors in Monument Square.
Where is this retail space located?
The property is located at 28 Monument Sq Portland, ME.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: 8,229± SF retail condominium across three floors; Currently operating as a multi‑tenanted food hall; Tenants in place
