Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1945 Congress St, Unit 1 Portland, ME 04102-1967

    • Commercial real estate
    • 20,110 SF
    • 7.00 lot acres
    OFF-MARKET
    Value Estimations
    $2,260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US42-0086580
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Portland, Maine Elks Lodge #188 / Volunteer Organization / Community Center
    • Northeastern Interventional Pain and Migraine Center / Physician
    • Andre Couture / Physician
    • Clark Insurance, a Marsh & McLennan Agency LLC company / Insurance Agency
    • Cosmetic Enhancement Center of New England / Spa & Massage Center / Alternative Medicine Practice

    Property Details for 1945 Congress St

    Year built
    2018
    Lot size
    7.00 lot acres
    Property size
    20,110 SF
    Property type
    Commercial real estate
    APN
    PTLD M:216 B:A006001
    APU
    PTLDM216BA006001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,380,000
      Market price range: $883k - $3.03M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,690,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.3197
    Latitude
    43.6538
    CBSA code
    38860
    CBSA name
    PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $38,174
    $554,600
    $2,094,500
    $2,649,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      8.40 Acres

      113 Commercial St

      COMMERCIAL (GENERAL) • 8.40 Acres
      113 Commercial St, Portland, ME 04102
      View Details
    • Value Estimation by Request
      6.65 Acres

      41 Hutchins Dr

      COMMERCIAL (GENERAL) • 6.65 Acres
      41 Hutchins Dr, Portland, ME 04102-1931
      View Details
    • Value Estimation
      $1,640,000
      15,156 SF

      190 Vly St, Unit 2

      COMMERCIAL CONDOMINUIM • 15,156 SF
      190 Vly St, Portland, ME 04102-3077
      View Details
    • Value Estimation
      $725,000
      3,842 SF

      15 Pne St

      COMMERCIAL (GENERAL) • 3,842 SF
      15 Pne St, Portland, ME 04102-3807
      View Details
    • Value Estimation
      $2,885,000
      30,287 SF

      75 Saint John St

      COMMERCIAL (GENERAL) • 30,287 SF
      75 Saint John St, Portland, ME 04102-3013
      View Details
    • Value Estimation
      $1,515,000
      11,784 SF

      163 Danforth St

      COMMERCIAL (GENERAL) • 11,784 SF
      163 Danforth St, Portland, ME 04102-3813
      View Details

    Similar Nearby for Sale

    • $650,000
      3,636 SF

      Portland Triplex Renovation Opportunity

      Three-unit property in Portland, Maine, ready for complete renovation.
      6 Horton Pl, Portland, ME 04102
      View Details
    • New
      $417,500
      1,314 SF

      Stroudwater Bungalow with Investment Potential

      Renovated bungalow in Stroudwater with large lot and investment potential.
      1549 Westbrook St, Portland, ME 04102
      View Details
    • $549,000
      0.05 Acres

      Congress Street Commercial Property

      Commercial property on Congress Street with high-traffic and endless potential.
      867 Congress St, Portland, ME 04102
      View Details
    • $1,650,000
      3,842 SF

      Prime West End Investment Opportunity

      Historic Portland property with income potential and flexible zoning.
      15 Pine St, Portland, ME 04102
      View Details
    • $525,000
      1,234 SF

      Well-Maintained Two-Unit Multifamily Property

      Two-unit property in Portland with modern updates and convenient location.
      9 C St, Portland, ME 04102
      View Details
    • New
      $275,000
      0.31 Acres

      Serene Portland Land Opportunity

      Build your dream home near trails and downtown Portland.
      Hillcrest Ave, Portland, ME 04102
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15,200 SF

      Portland Office Space for Lease

      Prime Portland Office Suites Available Now
      188 State St, Portland, ME 04102
      View Details
    • $20 SF/Yr
      3,988 SF

      New Waterfront Retail/Office Building

      New construction retail and office space on Portland's waterfront.
      266 Commercial St, Portland, ME 04102
      View Details
    • $10 SF/Yr
      242,965 SF

      Portland Executive Office Space

      Modern Portland office, ample parking, I-95 access
      7 Rand Rd, Portland, ME 04102
      View Details
    • Contact for pricing
      4,394 SF

      Portland Retail Pad Site Investment

      High-visibility retail land, prime location.
      1220 Brighton Ave, Portland, ME 04102
      View Details
    • $13 SF/Yr
      3,200 SF

      Portland Office Space For Rent

      3,200+/- SF office space in convenient Jetport location.
      406 Yellowbird Rd, Portland, ME 04102
      View Details
    • $25 SF/Yr
      4,250 SF

      Historic Office Space with Views

      Office suites available in historic brick building with water views.
      100 Commercial St, Portland, ME 04102
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1945 Congress St, Unit 1
    Portland, ME 04102-1967
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.