Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    648 Congress St Portland, ME 04101

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    870± SF retail space in Portland's Arts District.

    Property size:
    870 SF
    Lot size:
    1.29 Acres

    Property Features for 648 Congress St

    General Information

    Size
    870 SF
    Lot size
    1.29 Acres

    We can help!

    Listing Contact
    Emmett L. Peoples
    Source: Moodyscre

    Listing Agent: Emmett L. Peoples

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail Space in Arts District

    This property offers 870± square feet of retail space with high visibility in Portland's Arts District. Large windows provide excellent exposure and natural light. Parking is available for lease in a landlord-owned lot. The lease rate is $2,175 per month on a modified gross basis.
    Location Intelligence

    Current Use by Public Records

    Little Chair Printing (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Law Firm Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.2653655
    Latitude
    43.6531949

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      ME, Portland - Congress

      Workspaces, services and support to help you work better in Frisco Square
      400 Congress St, Portland, ME 04101
      View Details
    • Contact for pricing

      ME, Portland - Hutchins Dr

      Discover many ways to work your way in San Antonio Airport
      41 1St St, Portland, ME 04102
      View Details
    • $21 SF/Yr
      2,500 SF

      Old Port Third Floor Office

      Full third floor office space in the Old Port.
      130 Middle St, Portland, ME 04101
      View Details
    • Contact for pricing
      5,786 SF

      Downtown Portland Office Space Available

      Full floor office suites for lease in Portland's financial district.
      48 Free St, Portland, ME 04101
      View Details
    • Contact for pricing
      1,000 SF

      Financial District Office Space

      Office suites available in the Financial District.
      1 Monument Way, Portland, ME 04101
      View Details
    • Contact for pricing
      11,557 SF

      Class A Office Space Downtown

      High-profile Class A office space in downtown Portland for lease.
      100 Middle St, Portland, ME 04101
      View Details
    • Contact for pricing
      2,139 SF

      Historic Restaurant Space in Old Port

      Renovated restaurant space with patio in the Old Port.
      2-10 Cotton St, Portland, ME 04101
      View Details
    • Contact for pricing
      2,445 SF

      Renovated Office Space in Portland

      Second floor office space for lease in Portland's Financial District.
      50 Monument Sq, Portland, ME 04101
      View Details
    • Contact for pricing
      1,527 SF

      Prime Waterfront Office/Retail Space

      Two-story Portland building with water views, flexible space, and retail potential.
      144 Forest, Portland, ME 04101
      View Details
    • $1,800 /Mo
      1,350 SF

      Turnkey Dental Suite For Lease

      Turnkey dental suite with furniture, fixtures, and equipment in place.
      94 Washington Ave, Portland, ME 04106
      View Details
    • $25 SF/Yr
      4,250 SF

      Historic Office Space with Views

      Office suites available in historic brick building with water views.
      100 Commercial St, Portland, ME 04102
      View Details
    • Contact for pricing
      3,770 SF

      Downtown Portland Office/Retail Suites

      Office and retail suites for lease in downtown Portland.
      1 City Ctr, Portland, ME 04101
      View Details

    FAQs

    What type of property is this?
    Retail space - 870± SF retail space in Portland's Arts District.
    Where is this retail space located?
    The property is located at 648 Congress St Portland, ME.
    What are key features of this property?
    This property features: - High visibility retail space in Portland's Arts District.; - Large windows providing excellent exposure and natural light.; - 870± SF of retail space.
    (207) 400-4939 Call to check price and availability
    Request Owner's contact information
    648 Congress St Portland, ME 04101
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    648 Congress St
    Portland, ME 04101
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    648 Congress St Portland, ME 04101
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Emmett L. Peoples
    (207) 400-4939 (207) 747-1515
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!