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    48 Free St Portland, ME 04101

    For Lease
    $20 SF/Yr

    Downtown Portland, Two Suites Available

    Lot size:
    30,158 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional two-story office building, totaling 30,158 square feet, presents a rare opportunity in Portland's vibrant financial district. Located on a 0.25-acre lot (APN: Map 38, Block I, Lot 18, Cumberland County), this 1900-era building boasts a coveted B3 - Downtown Business zoning designation. Its prime location offers unparalleled access to the Old Port and waterfront, with a Walkability Score of 96, ensuring convenient commutes and a thriving atmosphere. The building benefits from the adjacency to a new retail/residential development at 40 Free Street, further enhancing its desirability. Currently, two office suites are available, ranging in size from approximately 1,759 square feet to approximately 2,472 square feet, providing flexibility for various business needs. The property includes convenient surface lot parking directly accessible to the building, eliminating parking hassles for tenants and clients. This is an exceptional opportunity to secure a well-located, established office space in the heart of Portland's dynamic business environment. The building's traditional architecture blends seamlessly with the modern amenities and vibrant energy of the surrounding area, making it an ideal location for businesses seeking a prestigious and functional workspace. Multiple tenancy allows for diverse occupancy options.

    Property Features for 48 Free St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    30,158 SF
    Total Rate
    50263.33

    Building Details

    Year Built
    1900
    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    Suite L60
    Size
    2,472 SF
    Rate per SF
    $20
    Space
    Suite L40
    Size
    1,759 SF

    HighLights

    • Traditional office building totaling 30,158 square feet.
    • Located on 0.25 acres in Cumberland County.
    • Two‑story building constructed in 1900.
    • Multiple tenancies available, with suites ranging from approximately 1,759 to 2,472 square feet.
    • B3 - Downtown Business zoning.
    • Property address: Map 38, Block I, Lot 18.
    Property Profile Location Intelligence

    Current Use by Public Records

    Michelle Libby Century ... Real Estate Agent Merchant X Business To Business Service Christina Markoulis Social Worker Carlin & Shapiro, P.A. Attorney FordMurray Law Immigration Attorney

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.25839383
    Latitude
    43.65586896

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    FAQs

    What type of property is this?
    Office Property / Space - Downtown Portland, Two Suites Available
    Where is this office property / space located?
    The property is located at 48 Free St Portland, ME.
    What is the lease rate?
    The lease rate is $0.00-$20 SF/Yr.
    What are key features of this property?
    This property features: Traditional office building totaling 30,158 square feet.; Located on 0.25 acres in Cumberland County.; Two-story building constructed in 1900.
    Request Owner's contact information
    48 Free St 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
    48 Free St Portland, ME 04101
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