Ocean Gate Plaza & 
Arts District Parking Garage

Portland Portfolio Short Form Brochure 2020 (pdf)

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Property details

Address: 511 Congress Street Portland, Maine

Owner: Ocean Gate, LLC

Lot Size: .9773 +/- Acres

Building Square Footage: Office/Retail: 121,817 +/- SF, Storage: 8,959 +/- SF, Total:  130,776 +/- SF

Number of Floors: 9 Story office tower with 2 attached, multi-level wings consisting of office, retail & food service space.

Office Tower Footprint: 11,523 +/- SF

Year Built: 1973 (Renovated in 1996, 2003, 2007, & 2013-2019)

Zoning Code: B3- Business Zone

Ceiling Height: Ranges from 8’ 6” to 22’.

Foundation: Poured concrete 

Structural System: Structural steel frame

Facade: Red brick veneer

Roof: Adhered EPDM (2003)

Elevators: The building contains three passenger elevators that access all levels including basement. 

Loading & Storage: Loading dock access located in back of building with direct access to elevator.

HVAC:Individual HVAC units around perimeter of office tower for maximum Tenant comfort. Core of building is gas fired Centeral HVAC (cooling equipment for core is roof mounted).

Electrical Power: 4,000 amp, 480/277 volt

Other Utilities: Natural Gas, Public water & sewer, Wi-Fi, On-site trash & recycling

Life Safety: The building features a full wet sprinkler system throughout and a simplex addressable fire alarm.

Security/Concierge: Ocean Gate Plaza is monitored 24/7 with 16 building cameras. On-site security concierge is provided from 8AM-5:30PM Monday through Friday. Monitors for cameras of both structures are located at the security desk. Exterior LED lighting is loacted on premisis. 

Keyless Building Access: Tenants have 24 hour keyless card access to external enterances & elevators. Doors & elevators on main lobby floor automatically unlock at 7 AM and lock at 5PM Monday- Friday. 

Tenants: Building is anchored by Wood (just renewed lease). Other Tenants include Troubh Heisler, RxAnte, CashStar, MuniciPay, Soakology, among others.

Rentable Square Footage: 128,400 +/- Square Feet 

2020 Project Vacancy Rate: 2.06%

Income & Expenses: Provided upon receipt of signed Confidentiality Agreement.

Assessed Value

Land  $1,557,500

Building  $7,954,000

Total  $9,511,500

2019 Real Estate Taxes: $221,713

Terms of Purchase: Sale for Ocean Gate Plaza & Arts District Parking Garage is being offered by sealed bid. Contact Cardente Real Estate for further details.

Sale Price: $32,500,000


511 Congress Street | Ocean Gate Plaza

511 Congress Street | Ocean Gate Plaza

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                                      322 Fore St, Portland, Maine • (t) (207)775.7363  •  (f) 773.0066. • info@cardente.com