44 Oak Street
Portland, ME 04101

$2,495,000
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Trophy property at the center of Portland's peninsula offers owner/user, investor or developer limitless opportunity. Called a 'walker's paradise' by WalkScore this location offers immediate access to boutiques, breweries, shops, salons,...
$2,495,000
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8,648 Sq Ft.
Interior
Commercial
Property type
1914
Year Built
1514369
Web Id
1514369
MLS ID
Portland
School District

About 44 Oak Street

Trophy property at the center of Portland's peninsula offers owner/user, investor or developer limitless opportunity. Called a 'walker's paradise' by WalkScore this location offers immediate access to boutiques, breweries, shops, salons, galleries, grocers and even museums, music venues, monuments and more... This location ensures that any use from commercial to mixed to residential will not only succeed but thrive. The current owners have poured money into this historic property to preserve its past and ensure it meets today's needs/demands. From plumbing, heating and electrical to high-end fit and finish of commercial and office spaces the attention to detail is impressive. What's also impressive is the retained period details from the intricate tin ceilings and trim to the windows on the world plate glass windows. 10-13' ceilings and impressive original construction ensure the structure can live as many lives in the future as it has over the last 100+ years. The property is already set up as condos and is offered 3-ways: 1) all 4 levels = $2.495M, 2) basement, ground and 2nd level = $1.750M, 3) 3rd level = $750K with each level offering approximately 2,200sf. The desirable B3 zone allows for a host of uses and re-imagination / re-development opportunities. Currently the property is part retail (occupied but no lease - ground level and basement), part private club (occupied with lease - 2nd floor) and part office (vacant - 3rd level). One could easily see the 3rd level being converted to residential (1 or 2 units) for resale and re-capitalization or for a very lucky owner occupant. The current cap rate is 4 and the easily attained is 9. The value proposition and opportunity can't be overstated - at list price and well over this represents one of the very best commercial values in recent memory. shown by appointment only between 10-2 Mon - Fri, w/ 48 hours notice.

Listing Courtesy of Benchmark Real Estate

Amenities

  • Carpet
  • Counter Top - Tile
  • Hardwood Flooring

features

lot description
laminate flooring
Style
Flat

PROPERTY INFORMATION

Basement
Finished, Full
Cooling
Central Air
Heating
Hot Air, Multi-Zones
Location
Bus Line, Downtown, Near Airport, Near Shopping, Near Turnpike/Interstate, Public Transport Access, Rail Available
Parking Description
No Parking, Off Site, Off Street, On Street, Other Parking
Sewer
Public Sewer
Water
Public

EXTERIOR

Construction
Masonry
Exterior Features
Brick
Roofing
Flat

INTERIOR

Flooring
Carpet, Concrete, Laminate, Other, Tile, Wood

ADDITIONAL INFORMATION

Number of Units
1, 2, & 3
Listing Courtesy of Benchmark Real Estate
Listing Courtesy of Benchmark Real Estate
Legacy Sotheby’s International Realty is your destination for luxury real estate listings. This property for Sale at 44 Oak Street, Portland, Maine 04101 United States is a Commercial with bedrooms, full baths, and partial baths. It is located in , Portland, Maine, and is in the 04101 zip/post code area. This home of 8,648 Sq.Ft. was built in 1914 and is on a lot. Legacy Sotheby’s International Realty also has property listings in cities near Portland, including South Portland, Pond Cove and Portland. If you would like more information about this home for Sale at 44 Oak Street, Portland, Maine 04101 United States or would like to schedule a showing, contact the agent listed above for more information. You may also sign in, create an account, and save this listing for later reference by using icons at the top of this page.

Benchmark Real Estate

Listing Courtesy of Benchmark Real Estate
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