Galt Block Office Building

Office for Sale
Catylist Listing ID: 30409157
Property Subtypes: Office Building
Building Size (RSF): 38,072 SF
Gross Building Area: See Agent
Gross Land Area: 0.42 Acres
Sale Price: $11,000,000
Unit Price: $288.93 PSF
Property Use Type: Vacant/Owner-User
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/25/2019

Overview / Comments

The Galt Block is an iconic brick and beam structure that has been fully renovated and updated by the current owners - Auto Europe. It will be vacant when Auto Europe relocates in early 2020 and after any desired cosmetic updating for a new occupant or occupants, it is in "move-in" condition.

Strategically located on Portland's waterfront at the east corner of Commercial and Franklin Streets, this high-visibility building sits at the gateway to both current and future Portland economic vitality.

38,072± SF, 5-story office building known as "The Galt Block"
Located on the corner of Commercial Street and Franklin Arterial with easy access to I-295 and the Maine Turnpike.
Property includes a 34± space, on-site parking lot.
Excellent opportunity for any business seeking a highly-visible downtown location.
For Sale: $11,000,000


Finance Data Year 2019
Real Estate Taxes - Annual($) $85,814 (Annual)

Additional Details

Nearest MSA: Portland-South Portland
County: Cumberland
Tax ID/APN: Map 29, Block P, Lots 27 & 31
Zoning: B-3
Property Visibility: Excellent
Highway Access: I-295 and I-95
Airports: Portland International Jetport
Area Description: Highly visible location at juncture of Portland's established business district and the burgeoning eastern waterfront area
Total Number of Buildings: 1
Number of Stories: 5
Typical SF / Floor: 8,080 SF
Year Built: 1890
Year Renovated: 2019
Construction/Siding: Brick
Parking Type: Surface
Parking Description: 34± on-site spaces plus additional 5 spaces utilized in City-owned Bradbury Court behind building and lot.
Total Parking Spaces: 39
Sprinklers: Wet
Heat Source: Heat Pump
Air Conditioning: Engineered System
Zoning Description: Downtown Business
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,618 69,975 111,394
Median Age: 34.35 37.62 39.18
Households: 9,925 33,025 50,199


Photograph of Listing Agent

Tony McDonald, CCIM/SIOR

The Boulos Company NECPE Member
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