Historic Three-Story Mixed-Use
For Sale
Contact for pricing
574 CONGRESS ST, Portland, ME 04101
CBD property combines office suites, residential units, and an established restaurant tenant.
Property Size3,648 SF
Price / SF$411.18
Days on Market65
Property Features for 574 CONGRESS ST
General Information
Standard status
Active
Size
3,648 SF
Class
B
Property subtype
Retail, Multifamily, Mixed Use
Zoning
CBD
Occupancy
100%
Lease Type
NNN
Investment Type
Value Add
Additional Details
Office Units
2
Building Details
Year Built
1900
Buildings
1
Stories
3
Units
2
Tenancy
Multi
Listing Agency:
Keller Williams Realty
Listed By:
Edward Baldacci · License #BA930083
(207) 939-2969
Source:
Crexi
Added: Aug 3
Changed: Sep 8
Last Checked: Oct 5 at 6:33PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Built in 1900, this three-story mixed-use building contains 3,648 SF of commercial and residential space. The configuration includes two office suites and two residential units, creating a blend of uses within one historic property. Otto Pizza, an established New England restaurant brand, is identified as the anchor tenant.
The property is located in Portland’s CBD and is offered with a triple-net lease opportunity. Its historic construction, mixed-use layout, and combination of office, residential, and restaurant occupancy define the asset’s current configuration.
The property is located in Portland’s CBD and is offered with a triple-net lease opportunity. Its historic construction, mixed-use layout, and combination of office, residential, and restaurant occupancy define the asset’s current configuration.
Key Highlights
- 3,648 SF mixed‑use property in Portland’s CBD
- Three‑story historic building constructed in 1900
- Two office suites and two residential units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,466
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,289,320
$1.3M
Cap Rate 7%
$920,943
$920.9K
Cap Rate 9%
$716,289
$716.3K
Market Conditions
NOI Build-Up for 3,648 SF
Gross rent
$98.5K $27.00/SF
− Vacancy
−$6.4K −$1.76/SF
EGI
$92.1K $25.25/SF
− OpEx
−$27.6K −$7.57/SF
NOI
$64.5K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,289,320
Cap Rate 7%
$920,943
Cap Rate 9%
$716,289
Alternative Uses
Best Use
Multifamily LT 5
$920.9K
$805.8K – $1.07M
NOI $64,466 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$856.8K
$749.7K – $999.6K
NOI $59,975 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$1.00M
$877.3K – $1.17M
NOI $70,186 @ 7.0% cap · market cap 4.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
6,135
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - CBD property combines office suites, residential units, and an established restaurant tenant.
Where is this mixed-use property located?
The property is located at 574 CONGRESS ST Portland, ME.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 3,648 SF mixed‑use property in Portland’s CBD; Three‑story historic building constructed in 1900; Two office suites and two residential units
