1290 Congress StPortland, ME 04102

Property Details for 1290 Congress St

Year built

1915

Lot size

0.24 AC

Property size (Sq ft)

5,675 SF

Property type

Office properties

Property subtype

Office buildings

APN

PTLD M:190 B:J001001

APU

PTLDM190BJ001001

Description

This exceptional three-story, freestanding office building presents a unique owner-user opportunity in Portland, Maine. Boasting 4,248 square feet, the property is situated on a 0.24-acre lot at 1290 Congress St, 04102, within Cumberland County. Built in 1915, this Class B building offers a blend of historic character and modern functionality. The layout includes several private offices, a reception area, and two conference rooms, complemented by a dedicated dental lab on the second floor. Ample parking is provided with approximately 15 spaces and a two-car garage. The property's zoning is RP - Residential Professional, offering flexibility for various professional uses. Its highly visible location offers excellent accessibility, being just minutes from I-295, Exit 5B, and conveniently close to the Portland International Jetport, Thompson's Point, and the Portland Transportation Center. The asking price is $895,000, translating to $210.69 per square foot. The property's APN is 190/J/1-2. This is an ideal investment for a business seeking a prominent and well-equipped space in a thriving Portland location. The building's single ownership structure ensures a streamlined transaction.

• CAP approach

  CAP return

  Valuation

  6%

  $938,247

  6.5%

  $866,074

  7%

  $804,212

• Comparable approach

  Method

  Valuation

  Relative Method

  $741,496

  Geo Method

  $741,496

• Alternative Use

  Use

  Valuation

  Residential

  $1,073,932

  Hospitality

  $983,716

  Educational

  $818,440

  Medical

  $846,588

  Retail

  $1,273,129

Location Insight

City

Portland

County

Cumberland

State

Maine

Latitude

43.6579

Longitude

-70.2928

CBSA code

38860

CBSA name

PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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