Waterfront Retail
383 Commercial St Portland, ME 04101
For Sale
Contact for pricing
New construction first-floor retail space totaling 1,922± SF with waterfront visibility.
Property Size1,922 SF
Price / SF$305.93
Days on Market1365
Property Features for 383 Commercial St
General Information
Standard status
Active
Size
1,922 SF
Property subtype
RETAIL
Listing Agency:
Malone Commercial Brokers
(207) 772-2422
Listed By:
Jennifer Small
(207) 772-2422
Source:
Moodyscre
Added: Nov 1, 2022
Changed: Jul 25
Last Checked: Jul 27 at 2:02PM
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.
New construction retail space in the Old Port offers approximately 1,922± square feet on the first floor, designed for a straightforward storefront operation.
The property is positioned for visibility on Portland’s Waterfront, with traffic counts reported at 14,730± cars/day. Walk Score is listed at 92, and the surrounding area includes hotels, retail, office, restaurants, and residential condos.
This offering provides a single first-floor retail footprint with waterfront-facing exposure in a dense, mixed-use district.
The property is positioned for visibility on Portland’s Waterfront, with traffic counts reported at 14,730± cars/day. Walk Score is listed at 92, and the surrounding area includes hotels, retail, office, restaurants, and residential condos.
This offering provides a single first-floor retail footprint with waterfront-facing exposure in a dense, mixed-use district.
Key Highlights
- New construction first‑floor retail space totaling 1,922± SF
- Excellent visibility on Portland’s waterfront with traffic counts of 14,730± cars/day
- Walk score of 92
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 | $34.6k | $18.00 |
| − Vacancy | −$5.9k | −$3.06 |
| EGI | $28.7k | $14.94 |
| − OpEx | −$8.6k | −$4.48 |
| NOI | $20.1k | $10.46 |
1,922 SF · lease $18.00/SF/yr · vacancy 17.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$287.1K
$251.3K – $335.0K
NOI $20,100 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$528.3K
$462.2K – $616.3K
NOI $36,978 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Harmon's Floral Company — 584 Congress St, Portland, ME 04101
- Minott's Flowers — 145 free st, portland, me 04101
- Harmon's Floral Company — 737 Congress St, Portland, ME 04101
Frequently Asked Questions
What type of property is this?
Storefront property - New construction first-floor retail space totaling 1,922± SF with waterfront visibility.
Where is this storefront property located?
The property is located at 383 Commercial St Portland, ME.
What is the asking price?
The asking price for this property is $588,000.
What are key features of this property?
This property features: New construction first‑floor retail space totaling 1,922± SF; Excellent visibility on Portland’s waterfront with traffic counts of 14,730± cars/day; Walk score of 92
