172 State St Portland, ME 04101-3703
- Commercial real estate
- 0.38 lot acres
Current Use by Public Records
- Conroy-Tully Walker Funeral Homes / Event Planner / Event Venue
Property Details for 172 State St
- Lot size
- 0.38 lot acres
- Property type
- Commercial real estate
- APN
- PTLD M:045 B:C003001
- APU
- PTLDM045BC003001
Description
This exceptional 8,380 square foot mixed-use building at 172 State Street, Portland, ME presents a unique investment opportunity. Situated on a 0.6-acre lot, this three-story property boasts a blend of historical charm and versatile space. Currently configured with multiple private offices, expansive gathering areas, and a beautifully renovated apartment, the building offers immediate income potential and significant redevelopment possibilities. The property's character is further enhanced by an outbuilding, ideal for storage or showroom use. Adding to the value, a 0.22-acre parcel at 105 Winter Street, complete with a two-bay garage, is included in the sale. This additional lot provides ample space for expansion or parking. The asking price is $2,175,000. Note that a deed restriction will be implemented upon sale, limiting future use to include a funeral home. This property is ideally suited for an investor seeking a high-return project with significant upside potential in a desirable Portland location. The building's size, existing improvements, and the inclusion of the additional lot offer a rare combination of features for a property of this type. The historical significance of the building adds to its unique appeal and potential for adaptive reuse. Serious inquiries are encouraged.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Cumberland
- State
- Maine
- Longitude
- -70.2666
- Latitude
- 43.6523
- CBSA code
- 38860
- CBSA name
- PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA
