Corner Mixed-Use Commercial
550 Washington Ave. Portland, ME 04103
550 Washington Ave., Portland, ME, 04103
$1,069,500
For Sale
$1,069,500
COMMERCIAL - Portland, ME
Property Size9,045 SF
Price / SF$118.24
Days on Market23
Property Features for 550 Washington Ave.
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
Listing Agency
Keenan Auction Company, Inc.
(207) 885-5100
2063 Congress St, South Portland, ME
Listed by
Richard Keenan
(207) 885-5100
Added: Jun 25 Checked: Jul 17 at 11:06 am
MLS# 11852521
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
A 9,045+/- SF 1–2 story mixed-use commercial building designed with retail space along Washington Ave., office space on the upper level, and open warehouse/commercial space to the rear and side. The property includes roof-mounted Heat/AC, a 1-dock-height overhead door, and 3-phase 400-amp power. On-site paved parking is provided with approximately 10–11 spaces.
The corner site provides access and exposure to Washington Ave. and Randall Street, and is described as located just off Exits 8 & 9 of I-295.
The offering is being sold via real estate foreclosure auction (Auction date: Friday, July 24, 2026 at 11AM) with an on-site preview on Tuesday, July 7, 2026 from 10–11AM. Buyer broker participation is available; contact the auctioneer for qualifications. Reference Portland Tax Map 166, Block F, Lot 3.
The corner site provides access and exposure to Washington Ave. and Randall Street, and is described as located just off Exits 8 & 9 of I-295.
The offering is being sold via real estate foreclosure auction (Auction date: Friday, July 24, 2026 at 11AM) with an on-site preview on Tuesday, July 7, 2026 from 10–11AM. Buyer broker participation is available; contact the auctioneer for qualifications. Reference Portland Tax Map 166, Block F, Lot 3.
Key Highlights
- 9,045+/-SF mixed‑use building with commercial/retail, residential, and office space
- Corner site on Washington Ave. with access to Washington Ave. and Randall Street
- Located just off I‑295 Exits 8 & 9 in Portland, Maine (550 Washington Ave.)
Local 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 | $162.8k | $18.00 |
| − Vacancy | −$27.7k | −$3.06 |
| EGI | $135.1k | $14.94 |
| − OpEx | −$40.5k | −$4.48 |
| NOI | $94.6k | $10.46 |
9,045 SF · lease $18.00/SF/yr · vacancy 17.00% · expense 30.00%
Alternative Uses
Best Use
Office B
$1.85M
$1.62M – $2.16M
NOI $129,489 @ 7.0% cap · market cap 12.11%
Second Best
Mixed Use
$1.60M
$1.40M – $1.87M
NOI $112,339 @ 7.0% cap · market cap 10.50%
Theoretical Best
Office A
$2.49M
$2.18M – $2.90M
NOI $174,022 @ 7.0% cap · market cap 16.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Lava Kava
Bar & Pub
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Multi-use 1–2 story building with retail frontage, upper-level office space, and rear/side warehouse-commercial open space.
Where is this mixed-use property located?
The property is located at 550 Washington Ave. Portland, ME.
What is the asking price?
The asking price for this property is $1,069,500.
What are key features of this property?
This property features: 9,045+/-SF mixed‑use building with commercial/retail, residential, and office space; Corner site on Washington Ave. with access to Washington Ave. and Randall Street; Located just off I‑295 Exits 8 & 9 in Portland, Maine (550 Washington Ave.)
