Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    415 Congress St Portland, ME 04101
    Back to Search
    Property profile & analytics

    415 Congress St, Portland, ME 04101

    View on Map
    • Office buildings
    • 57,743 SF
    • 0.19 lot acres
    For Lease
    $17 SF/Yr
    View Listing →
    Downtown Portland Office Space Available For Lease
    $17 SF/Yr
    984 SF

    Downtown Portland Office Space Available

    Multiple office spaces for lease in historic downtown Portland.

    Congress St 415, Portland, ME
    View Listing
    Property ID
    US42-0363479
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Top Flite Financial, Inc. / Loan Service / Bank
    • Cascade Brook Rentals LLC / Building Supply
    • American Ghost Walks - Bar Harbor / Tour Operator / (Bike/Boat/Book/etc) Store
    • American Ghost Walks - Boothbay Harbor / Tour Operator / (Bike/Boat/Book/etc) Store
    • Fairway Independent Mtg Corporation / Loan Service / Bank

    Property Details for 415 Congress St

    Year built
    1912
    Lot size
    0.19 lot acres
    Property type
    Office buildings
    APN
    PTLD M:027 B:B007001
    APU
    PTLDM027BB007001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,437,000
      Market price range: $7.44M - $14.7M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $8,650,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.2578
    Latitude
    43.6587
    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
    $51,831
    $725,100
    $2,871,800
    $3,596,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $4,390,000
      40,861 SF

      128 High St

      OFFICE BUILDING
      128 High St, Portland, ME 04101
      View Details
    • Value Estimation
      $3,845,000
      32,394 SF

      14 York St

      OFFICE BUILDING
      14 York St, Portland, ME 04101-4782
      View Details
    • Value Estimation
      $2,820,000
      25,140 SF

      111 Commercial St

      OFFICE BUILDING
      111 Commercial St, Portland, ME 04101-4719
      View Details
    • Value Estimation
      $1,930,000
      14,784 SF

      480 Congress St

      OFFICE BUILDING
      480 Congress St, Portland, ME 04101-3400
      View Details
    • Value Estimation
      $3,780,000
      35,178 SF

      15 Franklin St

      OFFICE BUILDING
      15 Franklin St, Portland, ME 04101-4169
      View Details
    • Value Estimation
      $965,000
      5,786 SF

      55 Baxter Blvd

      OFFICE BUILDING
      55 Baxter Blvd, Portland, ME 04101-1801
      View Details

    Similar Nearby for Sale

    • $1,190,000
      5,102 SF

      Downtown Portland Freestanding Office Building

      5,000 SF office building in the heart of Portland.
      7 Forest Ave, Portland, ME 04101
      View Details
    • Contact for pricing
      99,488 SF

      Historic Landmark in Portland's Downtown

      Landmark building with value-add potential in Portland's vibrant downtown.
      142 High St, Portland, ME 04101
      View Details
    • Contact for pricing
      16,380 SF

      Mixed-Use Building in Downtown Portland

      16,380± SF mixed-use building in the heart of downtown.
      496 Congress St, Portland, ME 04101
      View Details
    • Contact for pricing
      4,830 SF

      Mixed-Use Building in Old Port

      Mixed-use building in a rapidly appreciating Portland neighborhood.
      85 India St, Portland, ME 04101
      View Details
    • Contact for pricing
      140,684 SF

      Downtown Portland Executive Office Building

      Class A Office Space, 34,569 RSF Available
      511 Congress St, Portland, ME 04101
      View Details
    • Contact for pricing
      1,922 SF

      Retail Space in Old Port

      New construction retail space with high visibility in Portland's Waterfront.
      383 Commercial St, Portland, ME 04101
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      11,557 SF

      Class A Office Space Downtown

      High-profile Class A office space in downtown Portland for lease.
      100 Middle St, Portland, ME 04101
      View Details
    • Contact for pricing

      Class A Office Space Portland

      Class A office space in the heart of Portland's business district.
      120 Exchange St, Portland, ME 04101
      View Details
    • Contact for pricing
      11,137 SF

      India Street Office Building For Lease

      11,137± SF standalone office building in the India Street Neighborhood.
      208 Forest, Portland, ME 04101
      View Details
    • Contact for pricing

      Class A Trophy Office Tower

      New six-story office tower in Portland's growing commercial neighborhood.
      12 Mountfort St, Portland, ME 04101
      View Details
    • Contact for pricing

      Downtown Portland Class A Office

      Renovated office suite in a desirable downtown location.
      100 Middle St, Portland, ME 04101
      View Details
    • Contact for pricing

      Renovated Waterfront Office Building

      Historic Class A office space with harbor views.
      254 Commercial St, Portland, ME 04101
      View Details
    View Listing
    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.
    415 Congress St
    Portland, ME 04101
    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

    Thank You for Inquiry
    415 Congress St, Portland, ME, 04101
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!