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Commercial for Sale: 1 North Street, Portland, ME 04101

$2,450,000
$2,450,000
1 North Street, Portland, ME 04101
$2,450,000
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Price:
$2,450,000

Type Commercial
Square Feet 4,136 sqft
Lot Size 0.07 acres
Year Built 1904
Taxes Paid $16,144

City Portland
County Cumberland

MLS 1600358
Status Active
DOM 87 days
Outstanding is an understatement when describing this remarkable mixed use multi-unit offering. Located at the center of Portland's vibrant, eclectic and uber desirable Munjoy Hill/ East End, locations don't get better than this. Walk Score calls this a 'walker's paradise' with everything you want and need within blocks. Located in a B1 zone, the property is home to a mix of residential and commercial uses. The corner commercial unit is home to Belleville (BLVL), an acclaimed and thriving bakery and coffee shop. The 5 remaining units are condo-ready-quality and fully updated 1 bedroom, 1 bath residential apartments. Each unit is bathed in natural light and each looks out onto local landmarks (neighboring homes and the Portland Observatory), the city skyline and even toward the setting sun over Back Cove. Units enjoy separate utilities, super-efficient heat and hot water and each rent is at-market. Over the past decade the current owners have gone unit by unit to update everything from the foundation to the roof to create something outstanding. Just outside the door you are instantly in the heart of the East End and a short walk to inner Washington Ave, the Old Port, in-town, Portland Foreside, East End beach, Eastern Promenade and more. With NOI of $140K and a 5.6 CAP Rate this is not only a worry-free addition to the portfolio, it is highly profitable. Shown by appointment Monday through Friday between 10AM and 5PM with 24+ hours notice.

Room Features

Basement Description Bulkhead, Unfinished, Full

Lot & Building Features

Cooling A/C Units, None
Tax Year 2024
Taxes Paid $16,144

Price History of 1 North Street, Portland, ME

Date Name Price Difference
08/14/2024 Listing Price $2,450,000 N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.

Map of 1 North Street, Portland, ME

Location Map Street View
Listed by Benchmark Real Estate, Thomas Landry 207-775-0248
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1 North Street (MLS #1600358) is a commercial listing located in Portland, ME. This commercial listing is 4,136 sqft and on a lot of 3,049 sqft (or 0.07 acres) and is 120 years old. This property was listed on 08/14/2024 and has been priced for sale at $2,450,000.

Nearby zip codes are 04021, 04102, 04103, 04105 and 04106. This property neighbors other cities such as Cape Elizabeth, Falmouth, Long Island, Scarborough and South Portland.

MREIS

Listing Last updated . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Walk Score map and data provided by Walk Score. Google map provided by Google. Bing map provided by Microsoft Corporation.

All information provided is deemed reliable but is not guaranteed and should be independently verified.

Listing information courtesy of: Benchmark Real Estate

Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, non-commercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. ©2024 Maine Real Estate Information System, Inc. All Rights Reserved. This web site does not display complete Maine Listings. Certain Maine Listings of other real estate brokerage firms have been excluded.