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    189 Anderson St Portland, ME 04101

    For Sale
    $795,000

    Prime East Bayside location, 1,635 sq ft, site plan approved.

    Property size:
    1,635 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 0.189-acre mixed-use development site, located at 189 Anderson Street in Portland, Maine's vibrant East Bayside neighborhood, presents a unique investment opportunity. The property, identified by APN Map 10, Block A, Lot 26, is offered at $795,000. Currently featuring a 1,635 square foot, single-story building constructed in 1950, the site is zoned I-Lb Industrial, permitting a range of commercial and industrial uses. The existing structure, formerly an auto repair shop, is ripe for renovation or demolition to accommodate new construction. Importantly, site plan approvals are already in place, streamlining the development process and minimizing potential delays. This prime location offers convenient access to I-295, ensuring excellent connectivity throughout the region. The property's versatility, combined with its strategic location and pre-approved site plan, makes it an ideal prospect for developers seeking a high-return investment in a thriving Portland neighborhood. The ownership entity is Munjoy Valley, LLC.

    Property Features for 189 Anderson St

    General Information

    Property type
    Automotive properties
    Square Feet
    1,635 SF
    Lot Size
    8,233 SF

    Building Details

    Year Built
    1950
    Buildings
    1
    Stories
    1

    HighLights

    • Mixed‑use redevelopment site; former auto repair shop, ready for renovation or demolition.
    • Approved site plan, streamlining the development process.
    • Located in Portland's East Bayside neighborhood with convenient I‑295 access.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Fogg's Body Shop Auto Body Shop

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.255811968306
    Latitude
    43.669169846521

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    FAQs

    What type of property is this?
    Automotive property - Prime East Bayside location, 1,635 sq ft, site plan approved.
    Where is this automotive property located?
    The property is located at 189 Anderson St Portland, ME.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: Mixed-use redevelopment site; former auto repair shop, ready for renovation or demolition.; Approved site plan, streamlining the development process.; Located in Portland's East Bayside neighborhood with convenient I-295 access.
    Request Owner's contact information
    189 Anderson 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
    189 Anderson St Portland, ME 04101
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