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    3 Commercial St Portland, ME 04101

    Sponsored
    For Lease
    $40 SF/Yr

    Prime Portland location, 12,847 sqft, 1 space available

    Lot size:
    12,847 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional retail property, located at 3 Commercial Street in Portland, Maine, offers a unique opportunity in a rapidly developing waterfront district. The building, constructed in 1900, boasts a total of 12,847 square feet on a 0.08-acre lot. Currently configured for multiple tenancies, one 800 square foot space is immediately available. The property features a prominent street-level presence with a large glass storefront, ensuring excellent visibility and attracting significant foot traffic. Its B3 zoning allows for a variety of commercial uses, making it ideal for retail or service businesses. The strategic location on a corner lot provides unparalleled exposure within Portland's burgeoning waterfront area. This vibrant district is home to numerous established businesses and corporate headquarters, including Brickyard Hollow, Fetch, Speckled Axe, WEX, Sunlife, Roux Institute, and Covetrus. The property's proximity to these key players offers significant advantages for any business seeking a high-profile location. Note that renovations are anticipated to be completed in the first quarter of 2024 at the adjacent property, 1 Commercial Street, which is currently under contract. The APN is 05170_029 N026. This is a single-story building.

    Property Features for 3 Commercial St

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    12,847 SF
    Total Rate
    42823.33

    Building Details

    Year Built
    1900
    Stories
    1

    Unit(s) available at that property

    Space
    Suite 1
    Size
    800 SF
    Rate per SF
    $40

    HighLights

    • 12,847 SF retail building on a 0.08‑acre lot in Portland, ME's waterfront district.
    • One 800 SF space immediately available in a multi‑tenant building.
    • Prominent street‑level presence with large glass storefront in a high‑traffic area.
    • B3 zoning allows for various commercial uses.
    • Corner lot location provides excellent visibility.
    • Renovations at adjacent property (1 Commercial Street) anticipated Q1 2024.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Realty agency Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Law Firm 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
    -70.2487562
    Latitude
    43.6593194

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    FAQs

    What type of property is this?
    Individual retail property - Prime Portland location, 12,847 sqft, 1 space available
    Where is this individual retail property located?
    The property is located at 3 Commercial St Portland, ME.
    What is the lease rate?
    The lease rate is $40 SF/Yr.
    What are key features of this property?
    This property features: 12,847 SF retail building on a 0.08-acre lot in Portland, ME's waterfront district.; One 800 SF space immediately available in a multi-tenant building.; Prominent street-level presence with large glass storefront in a high-traffic area.
    Request Owner's contact information
    3 Commercial 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
    3 Commercial St Portland, ME 04101
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