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Property profile & analytics
OFF-MARKET Estimated value $2,425,000
Turn key restaurants

60 Ocean St South Portland, ME 04106-2829

7,232 SF 0.11 ac lot Built 2019
Entity Owned 2-yr Hold ~ Est. High Equity
Property ID
US42-0361604
Property summary
AI-generated overview

Exceptional investment or owner-user opportunity in South Portland's desirable Knightville neighborhood. This three-story, 9,640 square foot mixed-use building, constructed in 2019 and renovated in 2023, boasts a blend of commercial and residential space. The property features 6,006+ square feet of high-quality restaurant space and 3,634+ square feet of residential area divided into six upscale apartments. Apartment amenities include wood flooring, granite countertops, new cabinetry, custom tile showers, and a state-of-the-art heat pump system. The building sits on a 0.11-acre lot and includes eight off-street parking spaces. Currently operating at 100% occupancy, this property offers significant potential for both income generation and future appreciation. Its convenient location provides easy access to Portland's Old Port and other amenities. The building is zoned VC and presents a rare opportunity in a highly sought-after area. Asking price is $3,395,000.

Property profile
Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 2019
Construction FRAME
Total area 7,232 SF
Lot 0.11 ac (4,792 SF)
APN SPOR M:015 L:102
UPID US42-0361604
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$2.45M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.43M
Owner & transaction history
60 Ocean LLC · 2 yrs held
60 Ocean LLC
since 2023
Last sale
$3.3M
3 recorded transactions
2023
$2.4M
2021
Price N/A
2016
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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