Current Use by Public Records
- Walgreens Photo / (Bike/Boat/Book/etc) Store
- Walgreens / Cosmetic Store
- Walgreens Pharmacy / Pharmacy
- higi / Physician
- Western Union / Bank / Credit Union
Property Details for 713 Congress St
- Lot size
- 0.79 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Drug stores
Description
This exceptional redevelopment opportunity presents a 7,020 square foot retail property located at 713 Congress Street in Portland, Maine. Currently occupied by a Walgreens pharmacy under a triple-net (NNN) lease expiring May 31, 2027, offering approximately 2.5 years of remaining lease term. The property sits on a 0.792-acre lot zoned B2-B, presenting significant potential for future development. The asking price is $6,000,000, translating to $854.70 per square foot. The single-story building offers a strong foundation for various redevelopment projects. The B2-B zoning allows for up to 79 residential units, making this an attractive investment for developers seeking a high-density project in a desirable Portland location. This prime location in Cumberland County, with its convenient access to major thoroughfares and amenities, ensures high visibility and strong potential for future tenants or residential occupants. The property's current income stream provides a stable foundation while allowing for future development plans. This is a rare opportunity to acquire a substantial property in a thriving Maine market.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Cumberland
- State
- Maine
- Longitude
- -70.2691
- Latitude
- 43.653
