Mixed-Use Building in Downtown
496 Congress St Portland, ME
For Sale
Contact for pricing
16,380± SF mixed-use building in the heart of downtown.
Property Size16,380 SF
Lot Size0.08 Acres
Price / SF$132.17
Days on Market262
Property Features for 496 Congress St
General Information
- Standard status
- Active
- Size
- 16,380 SF
- Lot size
- 0.08 Acres
- Property subtype
- OFFICE
Listing Agency:
Malone Commercial Brokers
(207) 772-2422
Listed By:
Joseph Malone
(207) 772-2422
Source:
Moodyscre
Added: Nov 5, 2025
Changed: Jul 10
Last Checked: Jul 21 at 6:52AM
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.
This 16,380± SF mixed-use building presents a historic redevelopment opportunity. The first floor is fully leased to a mix of national and local retail tenants. The upper floors are designed for office use, with a tenant currently occupying the third and fourth floors. The property benefits from high visibility on Congress Street and is situated in the heart of downtown.
Key Highlights
- High visibility on Congress Street in the heart of downtown
- Fully leased first floor retail with national and local tenants
- Rare on‑peninsula historic redevelopment opportunity
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 | $294.8k | $18.00 |
| − Vacancy | −$50.1k | −$3.06 |
| EGI | $244.7k | $14.94 |
| − OpEx | −$73.4k | −$4.48 |
| NOI | $171.3k | $10.46 |
16,380 SF · lease $18.00/SF/yr · vacancy 17.00% · expense 30.00%
Alternative Uses
Best Use
Office B
$3.35M
$2.93M – $3.91M
NOI $234,498 @ 7.0% cap · market cap 10.83%
Second Best
Mixed Use
$2.91M
$2.54M – $3.39M
NOI $203,440 @ 7.0% cap · market cap 9.40%
Theoretical Best
Office A
$4.50M
$3.94M – $5.25M
NOI $315,144 @ 7.0% cap · market cap 14.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
UPP Global
Parking Lot & Garage
Mitchell Geographics
Electronics & Wireless Store
Magnolia Devi Dance ...
Theater & Performing Art Venue
FAQs
What type of property is this?
Mixed-use property - 16,380± SF mixed-use building in the heart of downtown.
Where is this mixed-use property located?
The property is located at 496 Congress St Portland, ME.
What is the asking price?
The asking price for this property is $2,165,000.
What are key features of this property?
This property features: High visibility on Congress Street in the heart of downtown; Fully leased first floor retail with national and local tenants; Rare on‑peninsula historic redevelopment opportunity
