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Property profile & analytics
OFF-MARKET
Specialty properties

254 Commercial St Portland, ME 04101

95,000 SF
Property ID
Property summary
AI-generated overview

This exceptional Class A office building, Merrill's Wharf, offers unique opportunities for marine-related businesses. Located on Portland's vibrant waterfront, this meticulously renovated five-story building boasts 95,000 square feet of space, with two available suites ranging from 550 to 1,025 square feet. The building's historic charm is evident in its exposed beams and brick walls, complemented by modern upgrades. Recent renovations include energy-efficient windows, new HVAC systems, and upgraded lighting, ensuring both comfort and sustainability. Enjoy stunning views of Portland Harbor from this prime location. The building's strong tenant roster includes prominent firms like Pierce Atwood and Ocean Renewable Power Company, alongside an executive office center, creating a thriving and collaborative environment. Parking is conveniently available in nearby surface lots and garages. With a Walk Score of 87, this property offers unparalleled walkability to local amenities. The 1.33-acre lot is zoned WCZ - Waterfront Central, and the property's address is identified by APN Map 41, Block A, Lots 16, 17 & 18 in Cumberland County, within the Greater Portland submarket. This is a rare opportunity to secure office space in a prestigious, historically significant, and conveniently located building. Marine-related uses only.

Property profile
Verified
Property type Specialty properties
Total area 95,000 SF
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Foley Buhl Roberts & Associates Structural Engineer
  • Sulloway & Hollis PLLC Law Firm
  • Pierce Atwood LLP Law Firm
  • Kern Brenda Insurance Agency
  • Beard Sarah H Law Firm
Value estimations
Realmo proprietary · 4 methods
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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