Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    554 Congress St Portland, ME 04101

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Historic Portland retail space, multiple tenants.

    Lot size:
    125,790 SF

    Property Features for 554 Congress St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    125,790 SF
    Class
    B
    Total Rate
    178621.8

    Building Details

    Year Built
    1900
    Buildings
    1
    Stories
    5

    Spaces For Lease

    at 554 Congress St, Portland, ME 04101 Contact us
    Unit Corner Space

    $17 /Mo

    Size
    1,621 SF
    Contact us

    We can help!

    Listing Contact
    Joe Malone
    Joe Malone

    Listing Agency: Malone Commercial Brokers Listing Agent: Joe Malone

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

    Learn more

    Overview

    This exceptional 125,790 square foot retail property, located at 554 Congress Street in Portland, Maine, presents a unique investment opportunity. The building, constructed in 1900, boasts a prominent location and is classified as a Class B property. The five-story structure sits on a single lot (Map 37, Block G, Lot 14, APN) and is zoned B3, allowing for a variety of commercial uses. Currently configured for multiple tenants, the space is ideal for a diverse range of businesses, including restaurants and offices, reflecting its versatile subtype. The building's substantial size offers significant potential for expansion or redevelopment, catering to the needs of a growing business or a portfolio of tenants. Its prime location in Portland, ME (zip code 04101) ensures high visibility and accessibility, making it an attractive proposition for businesses seeking a strong foothold in a thriving urban market. The property's rich history and substantial square footage combine to create a compelling investment opportunity in a desirable location. Serious inquiries are encouraged to explore the full potential of this remarkable property.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Real Estate Agency Restaurant Dental Office Spa & Massage Center Hair Salon Law Firm Nail Salon Building Supply Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.261872052777
    Latitude
    43.655315459797

    Nearby Similar for Lease

    • Sponsored
      New
      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
    • $16 SF/Yr
      2,012 SF

      Class A Office Space Available

      Modern, move-in ready office suites in downtown Portland.
      619 Congress St, Portland, ME 04101
      View Details
    • $8 SF/Yr
      5,442 SF

      Portland Office Space for Lease

      Flexible workspace solutions in prime location.
      400 Congress St, Portland, ME 04101
      View Details
    • Contact for pricing
      20,725 SF

      Portland Retail/Flex/Industrial Space Available

      20,725-45,567± SF retail/flex/industrial space for lease in Portland.
      75 Northport Dr, Portland, ME 04103
      View Details
    • Contact for pricing
      15,360 SF

      Portland Mixed-Use Commercial Space

      Prime Portland location, office & warehouse space available.
      306 Warren Ave, Portland, ME 04103
      View Details
    • Contact for pricing
      7,500 SF

      Iconic Old Port Retail Space

      Prime retail location in the heart of Portland's waterfront district.
      373 Forest, Portland, ME 04101
      View Details
    • Contact for pricing
      19,500 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
    • $24 SF/Yr
      95,000 SF

      Merrill's Wharf: Waterfront Office Space

      Historic Portland waterfront office, 2 suites available.
      254 Commercial St, Portland, ME 04101
      View Details
    • $17 SF/Yr
      2,225 SF

      Prime Portland Executive Office Space

      Stunning Portland Office, 2,225 sq ft
      80 Elm St, Portland, ME 04101
      View Details
    • Contact for pricing
      16,000 SF

      Portland Waterfront Industrial Pad Site

      Deep-water berth, 16,000 SF laydown area
      0 Union Wharf, Portland, ME 04101
      View Details
    • $8 SF/Yr
      4,580 SF

      Portland Office Space for Lease

      Flexible Offices, Coworking & More
      41 1St St, Portland, ME 04102
      View Details
    • $10 SF/Yr
      24,962 SF

      Portland Warehouse - 25,000 SF

      Prime Portland warehouse, ideal for distribution. Available Q3 2024.
      340 Presumpscot St, Portland, ME 04103
      View Details

    FAQs

    What type of property is this?
    Restaurant - Historic Portland retail space, multiple tenants.
    Where is this restaurant located?
    The property is located at 554 Congress St Portland, ME.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: 1,621± SF of retail space available.; High-visibility Congress Street location with strong foot traffic.; Suitable for restaurant or food service use.
    Request Owner's contact information
    554 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.
    554 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
    554 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 Joe Malone
    Joe Malone
    Real Estate License ID: 107075
    Learn more
    Google sign-in failed. Please try again or use another login method.