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

Financials

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

View FullscreenMap

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

Contact

Photograph of Listing Agent

Tony McDonald, CCIM/SIOR

The Boulos Company NECPE Member
© Copyright 2001-2019 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither New England Commercial Property Exchange nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.