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: 10/1/2020

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.

Attachments & Media

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

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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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