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709 Congress St
Portland, ME 04102
Retail Property For Sale
Investment Highlights
- Prime urban frontage and visibility along Congress Street
Executive Summary
- 43% Contractual Rent Increase in 2027
- Rent increases from $140,000 to $200,000 annually, significantly boosting forward yield.
- Urban Infill Location
- Situated along Congress Street, one of Portland’s most prominent commercial corridors.
- Net Lease Structure
- Walgreens responsible for taxes, insurance, and maintenance under a net lease structure.
- Strong Real Estate Fundamentals
- Irreplaceable infill parcel in a supply-constrained, high-barrier coastal market.
- Redevelopment & Re-Tenant Optionality
- Zoning supports future mixed-use or residential redevelopment (buyer to verify).
- National Credit Tenant
- Walgreens Boots Alliance is one of the largest pharmacy operators in the U.S.
- Rent increases from $140,000 to $200,000 annually, significantly boosting forward yield.
- Urban Infill Location
- Situated along Congress Street, one of Portland’s most prominent commercial corridors.
- Net Lease Structure
- Walgreens responsible for taxes, insurance, and maintenance under a net lease structure.
- Strong Real Estate Fundamentals
- Irreplaceable infill parcel in a supply-constrained, high-barrier coastal market.
- Redevelopment & Re-Tenant Optionality
- Zoning supports future mixed-use or residential redevelopment (buyer to verify).
- National Credit Tenant
- Walgreens Boots Alliance is one of the largest pharmacy operators in the U.S.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
9,828 SF
Building Class
C
Year Built
1941
Price
$5,079,705 CAD
Price Per SF
$516.86 CAD
Cap Rate
5.48%
NOI
$278,340 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.28
Lot Size
0.80 AC
Zoning
B2b
Parking
37 Spaces (5.27 Spaces per 1,000 SF Leased)
Frontage
153’ on Congress St
Property Taxes
| Parcel Number | PTLD-000047-000000-C019001 | Improvements Assessment | $1,005,503 CAD |
| Land Assessment | $1,649,165 CAD | Total Assessment | $2,654,668 CAD |
Property Taxes
Parcel Number
PTLD-000047-000000-C019001
Land Assessment
$1,649,165 CAD
Improvements Assessment
$1,005,503 CAD
Total Assessment
$2,654,668 CAD
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