553 & 555 Congress Street
Retail-Commercial
for Sale
| Catylist Listing ID: |
30654699 |
| Property Subtypes: |
Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other
|
| Building Size (RSF): |
9,061 SF
|
| Gross Building Area: |
See Agent |
| Sale Price: |
$2,400,000 |
| Unit Price: |
$264.87 PSF |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Investment, Business |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
7/6/2021 |
Overview / Comments
Five Fifty Three and Five Fifty Five Congress Street are conveniently located in the heart of Downtown Portland. The buildings consist of four luxury apartments, the Point Five Lounge and the well known Five Fifty-Five restaurant. The retail space is currently owner occupied and the residential units, currently all short term rental units, are fully furnished. Located in the vibrant Art's District, the short term rentals are in high demand and the restaurant is consistently busy. The two combined parcels are .051 acres improved with a 5,350 square foot mixed-use building and a
3,666 square foot mixed-use building.
|
Additional Details
| Nearest MSA: |
Portland-South Portland |
| County: |
Cumberland |
| Tax ID/APN: |
05170_037 A043 |
| Zoning: |
B3 |
| Retail Clientele: |
General, Business, Traveler, Tourist |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
Congress Street |
| Year Built: |
1900 |
| Parking Type: |
Surface |
| Zoning Description: |
B3 |
| Lot Frontage: |
1 |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
26,207 |
78,550 |
111,093 |
| Median Age: |
34.1 |
38.07 |
39.15 |
| Households: |
13,658 |
36,466 |
50,070 |
|
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