594 Congress St Portland, ME 04101-3352
- Retail space
- 9,468 SF
- 0.06 lot acres
Feb 28, 2020
Current Use by Public Records
- VetEnvoy / Veterinarian
- Listing Tunnel, LLC - Matterport 3D Home Tours / Video Production Service
- Locations Real Estate Group | Fitzgibbons and Latham / Real Estate Agency
- Gallery at the Hay / Art Gallery
- Ross Nickerson / Hobby Store
Property Details for 594 Congress St
- Year built
- 1900
- Lot size
- 0.06 lot acres
- Property size
- 9,468 SF
- Property type
- Retail space
- APN
- PTLD M:037 B:G001001
- APU
- PTLDM037BG001001
Description
This exceptional retail property, located at 594 Congress Street in Portland, Maine, presents a unique investment opportunity. The building, constructed in 1900, boasts a total of 9,468 square feet spread across three stories. Its prime downtown location offers unparalleled visibility and accessibility for businesses seeking a thriving commercial environment. The property is zoned DEOZ, allowing for a variety of retail uses. The single building is situated on a lot identified as Map 37, Block G, Lot 1 in Cumberland County. With its multiple tenancy potential, this property is ideal for a variety of retail concepts, offering flexibility for both established businesses and new ventures. The building's historic character adds to its charm and appeal, providing a unique setting for businesses seeking a distinctive presence in the heart of Portland. The property's size and layout offer ample space for diverse retail operations, potentially accommodating multiple tenants or a single large-scale retailer. Its central location within Portland's vibrant downtown core ensures high foot traffic and excellent exposure to a large customer base. This is a rare opportunity to acquire a significant retail space in a highly desirable location. The property's age and character offer a unique opportunity to create a memorable and successful business environment. Serious inquiries are encouraged.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,650,000
- 6.5%
- $1,525,000
- 7%
- $1,415,000
-
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,920,000 Current use
- OFFICE BUILDING
- $1,735,000 Change: -10% Conversion: Easy
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Cumberland
- State
- Maine
- Longitude
- -70.2626
- Latitude
- 43.6543
- CBSA code
- 38860
- CBSA name
- PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA