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    52 Hanover St Portland, ME 04101

    For Lease
    $30 SF/Yr ($15,750 /Mo)

    New construction, luxury location, patio space.

    Lot size:
    6,300 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional retail opportunity presents 6,300 square feet of newly constructed space, ideally situated on the ground floor of a luxury apartment building in Portland's vibrant West Bayside neighborhood. The property is part of the Hanover Street development, a thriving area known for its popular bars, restaurants, and breweries. Two spaces are currently available, each offering dedicated outdoor patio space, a significant advantage for businesses seeking to enhance customer experience. The minimum divisible space is 1,500 square feet, with a maximum contiguous space of 1,800 square feet. The entire 6,300 square feet is currently vacant, presenting a unique chance for a single tenant to occupy the entire space or for multiple tenants to occupy smaller units. The building's prime location within the bustling West Bayside area ensures high visibility and foot traffic, making it an ideal location for a variety of retail businesses. This property offers a blend of modern amenities and a prime location within a well-established and growing commercial district in Cumberland County. The flexible space allows for customization to suit diverse business needs, making it an attractive investment opportunity for discerning entrepreneurs. Don't miss this chance to establish your business in one of Portland's most sought-after locations.

    Property Features for 52 Hanover St

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    6,300 SF
    Total Rate
    15750

    Unit(s) available at that property

    Space
    Unit :2
    Size
    1,500 SF
    Rate per SF
    $30
    Space
    Unit : 1
    Size
    1,500 SF
    Rate per SF
    $30

    HighLights

    • Prime new construction retail space in Portland's West Bayside neighborhood.
    • Located in the final phase of the Hanover Street development, near popular bars, restaurants, and breweries.
    • Two available spaces ranging from 1,500 to 1,800 square feet.
    • Features dedicated outdoor patios.
    • Total building size: 6,300 square feet; fully vacant.
    • Minimum divisible space: 1,500 square feet; maximum contiguous space: 1,800 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Fleet Services City Government Office The Armature Apartment Building

    Suggested Use

    Restaurant Realty agency Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Law Firm Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.26417
    Latitude
    43.6590918

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    FAQs

    What type of property is this?
    Individual retail property - New construction, luxury location, patio space.
    Where is this individual retail property located?
    The property is located at 52 Hanover St Portland, ME.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: Prime new construction retail space in Portland's West Bayside neighborhood.; Located in the final phase of the Hanover Street development, near popular bars, restaurants, and breweries.; Two available spaces ranging from 1,500 to 1,800 square feet.
    Request Owner's contact information
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    Realmo Value Estimation

    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.

    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.

    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
    52 Hanover St Portland, ME 04101
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