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    383 Commercial St Portland, ME 04101

    Sponsored
    For Sale
    $576,600

    1,922 SF Storefront, $576,600

    Property size:
    1,922 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Class A storefront, located at 383 Commercial Street, Suite F, in Portland, Maine's vibrant Old Port district, presents a unique investment opportunity. Boasting 1,922 square feet of newly constructed retail space, this property offers unparalleled visibility on the waterfront, with daily traffic counts exceeding 14,730 cars. Situated on a 2.9-acre lot and zoned B5b, the property benefits from a Walk Score of 92, placing it in a highly desirable pedestrian-friendly area. The surrounding neighborhood is a thriving hub of activity, featuring numerous hotels, retail establishments, office spaces, restaurants, and residential condominiums, ensuring high foot traffic and potential customer base. The asking price is $576,600, translating to $300 per square foot. This represents a compelling investment in a prime location within a bustling and sought-after area of Portland, Maine. The property is owned by Deering Property Development LLC and offers significant potential for a variety of retail businesses. Its strategic location and modern construction make it an ideal space for businesses seeking high visibility and accessibility within the heart of the Old Port. The property's size and zoning provide flexibility for a range of retail uses.

    Property Features for 383 Commercial St

    General Information

    Property type
    Individual retail properties
    Square Feet
    1,922 SF
    Class
    A
    Lot Size
    126,324 SF

    HighLights

    • 1,922± SF of new construction retail space on the first floor.
    • High visibility waterfront location in Portland with 14,730± cars per day.
    • Walk Score of 92; highly walkable location.
    • Prime location surrounded by hotels, retail, restaurants, offices, and residential condos.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hobson's landing Condominium Complex ChargePoint Charging Station Electric Vehicle Charging Station Maine Dentistry Dentist

    Suggested Use

    Realty agency Dental Office Spa & Massage Restaurant Hair Salon Nail Salon Building Supply Daycare Center 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
    -70.2573809
    Latitude
    43.6510339

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    FAQs

    What type of property is this?
    Individual retail property - 1,922 SF Storefront, $576,600
    Where is this individual retail property located?
    The property is located at 383 Commercial St Portland, ME.
    What is the asking price?
    The asking price for this property is $576,600.
    What are key features of this property?
    This property features: 1,922± SF of new construction retail space on the first floor.; High visibility waterfront location in Portland with 14,730± cars per day.; Walk Score of 92; highly walkable location.
    Request Owner's contact information
    383 Commercial 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
    383 Commercial St Portland, ME 04101
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