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Property profile & analytics
FOR LEASE
Retail space

114 Preble St Portland, ME 04101

4,424 SF 0.07 ac lot Built 1955
Individually Owned 1-yr Hold ~ Est. High Equity
Property ID
US42-0193647
Property summary
AI-generated overview

This exceptional 4,424 square foot restaurant property, located at 114 Preble Street in Portland, Maine's vibrant West Bayside neighborhood, presents a compelling owner-user or investment opportunity. Situated on a 7,329 square foot corner lot, this single-story, 1955-built building boasts high visibility and convenient access to I-295. The property's flexible B7 zoning allows for diverse uses, complementing its history as a restaurant. Currently vacant, this 1-unit building offers immediate occupancy for a new owner. The substantial square footage provides ample space for a variety of restaurant concepts or other compatible businesses. On-site parking is a significant advantage in this desirable location. The asking price is $1,475,000. This is a rare chance to acquire a well-positioned commercial property in a thriving Portland neighborhood. The property's size, location, and zoning flexibility make it an attractive prospect for both established businesses and new ventures seeking a strong foothold in the Portland market. The building's history as a restaurant provides a solid foundation for continued success in the food service industry, while the flexible zoning opens doors to a wider range of possibilities.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1955
Total area 4,424 SF
Lot 0.07 ac (3,049 SF)
APN PTLD M:033 B:O001001
UPID US42-0193647
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$710k
Comparable Approach Comparable
$900k
Blend (final) Blend
$905k
Owner & transaction history
Joy Re Of Portland III Ll · 1 yrs held
Joy Re Of Portland III Ll
since 2025
Last sale
$1.0M
2 recorded transactions
2025
$1.0M
2013
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general) $1.2M +36.3%
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More about this property
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