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    9 Somerset St Portland, ME 04101

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    For Sale
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    Prime 0.785-acre commercial lot in Portland, ME.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 0.785-acre commercial development site is located in Portland, Maine's desirable Bayside neighborhood at 9 Somerset Street (APN 24-C-24). Zoned B7 & Intermediate Urban Height, this property presents a unique opportunity for a variety of commercial projects. The lot offers unparalleled access to a vibrant and thriving community, boasting a Walk Score of 96 and a Bike Score of 78. Its strategic location places it within easy reach of numerous amenities, including Whole Foods, Planet Fitness, Walgreens, Trader Joe's, and a wide array of shopping, dining, and entertainment options. The property's proximity to renowned educational institutions such as the Maine College of Art, University of Southern Maine, and Northeastern's Roux Institute further enhances its appeal and potential. Owned by E. Perry Iron & Metal Co., this parcel represents a rare chance to build in a high-demand area with exceptional walkability and access to a diverse range of businesses and educational facilities. The property's size and zoning provide significant flexibility for developers seeking to capitalize on Portland's robust commercial market. Serious inquiries are encouraged.

    Property Features for 9 Somerset St

    General Information

    Property type
    Land
    Lot Size
    34,195 SF

    HighLights

    • 0.785‑acre commercial development site in Portland, Maine's desirable Bayside neighborhood.
    • Zoned B7 & Intermediate Urban Height, offering flexibility for various commercial projects.
    • Exceptional walkability and bikeability, boasting Walk Score of 96 and Bike Score of 78.
    • Prime location near Whole Foods, Planet Fitness, Walgreens, Trader Joe's, and numerous other retail, dining, and entertainment options.
    • Proximity to Maine College of Art, University of Southern Maine, and Northeastern's Roux Institute.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.259919
    Latitude
    43.663303

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    FAQs

    What type of property is this?
    Land - Prime 0.785-acre commercial lot in Portland, ME.
    Where is this land located?
    The property is located at 9 Somerset St Portland, ME.
    What are key features of this property?
    This property features: 0.785-acre commercial development site in Portland, Maine's desirable Bayside neighborhood.; Zoned B7 & Intermediate Urban Height, offering flexibility for various commercial projects.; Exceptional walkability and bikeability, boasting Walk Score of 96 and Bike Score of 78.
    Request Owner's contact information
    9 Somerset St Portland, ME 04101
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    Portland, ME 04101
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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
    9 Somerset St Portland, ME 04101
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