114 Preble St Portland, ME 04101
For Lease
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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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.