Retail Space in Old
For Sale
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383 Commercial St Suite F, Portland, ME 04101
New construction retail space with high visibility in Portland's Waterfront.
Property Size1,922 SF
Price / SF$305.93
Days on Market1448
Property Features for 383 Commercial St Suite F
General Information
Standard status
Active
Size
1,922 SF
Class
A
Property subtype
Retail
Zoning
B5b
Building Details
Tenancy
Single
Listing Agency:
Malone Commercial Brokers
Listed By:
Jennifer Small · License #ME 906232
(207) 772-2422
Source:
Crexi
Added: Nov 1, 2022
Changed: Oct 15
Last Checked: Oct 16 at 8:16AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Malone Commercial Brokers
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This new construction retail space is located in the Old Port area. The property offers approximately 1,922 square feet of first-floor retail space. Situated on Portland’s Waterfront, the location benefits from high visibility and traffic, with approximately 14,730 cars per day. The area has a walk score of 92. The property is surrounded by hotels, retail establishments, offices, restaurants, and residential condominiums.
Key Highlights
- Excellent visibility on Portland’s Waterfront.
- New construction in the Old Port.
- High walk score of 92, a walker's paradise.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,100
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,000
$402.0K
Cap Rate 7%
$287,143
$287.1K
Cap Rate 9%
$223,333
$223.3K
Market Conditions
NOI Build-Up for 1,922 SF
Gross rent
$34.6K $18.00/SF
− Vacancy
−$5.9K −$3.06/SF
EGI
$28.7K $14.94/SF
− OpEx
−$8.6K −$4.48/SF
NOI
$20.1K $10.46/SF
Area
Cumberland County, ME
Vacancy
17.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,000
Cap Rate 7%
$287,143
Cap Rate 9%
$223,333
Alternative Uses
Best Use
Retail
$287.1K
$251.3K – $335.0K
NOI $20,100 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$528.3K
$462.2K – $616.3K
NOI $36,978 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,563
Businesses Nearby
49k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 48%
Apparel 21%
Dining 16%
Hotels & Casinos 12%
Circle K
Shops & Services
12,170 visits/mo
0.1 miles
Reny's
Apparel
10,314 visits/mo
0.2 miles
7-Eleven
Shops & Services
10,061 visits/mo
0.5 miles
Luke's Lobster
Dining
6,958 visits/mo
0.5 miles
Courtyard by Marriott Portland Downtown/Waterfront
Hotels & Casinos
5,673 visits/mo
0.1 miles
Demographics for 04101, ME
18,109
Population
11,510
Households
1.6
Avg Household Size
36
Median Age
57%
College-Educated
93%
High-School Grad
2.0 sq mi
ZIP Area
9,055
Density / Sq Mi
$60,726
Median Household Income
$45,009
Median Earnings
$1,457
Median Rent
$600,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - New construction retail space with high visibility in Portland's Waterfront.
Where is this retail space located?
The property is located at 383 Commercial St Suite F Portland, ME.
What is the asking price?
The asking price for this property is $588,000.
What are key features of this property?
This property features: Excellent visibility on Portland’s Waterfront.; New construction in the Old Port.; High walk score of 92, a walker's paradise.
