Located at one of Portland's most visible and heavily trafficked intersections, 550 Washington Avenue offers a rare chance to reimagine an iconic property and create a destination in the heart of the city.
Why 550 Washington?
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Prime Portland corner with unmatched visibility
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Flexible zoning and endless potential
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Professional architectural concepts provided at no cost
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Positioned in one of Maine's fastest-growing and most creative cities
This 9,045+/- sq. ft. building, originally constructed in 1930 and most recently home to Botto's Bakery, sits on a 0.23+/- acre corner lot with excellent frontage and signage opportunities. Its prime Community Business zoning supports a wide variety of uses, making it an exceptional blank canvas for creative redevelopment.
The building spans three levels: a main floor with warehouse and manufacturing space, a lower level for storage or support, and an upper level with office space. Ceiling heights vary up to 14’+/-, with large open areas ideal for flexible layouts. Public utilities are connected, and limited on-site parking may be reconfigured to suit a new design. Existing conditions reflect significant deferred maintenance - this is a full renovation opportunity - but the fundamentals of location, visibility, and scale make this property truly unique.
Adding to its appeal, the seller is providing professional architectural design concepts, free of charge, to the buyer. Created by Maugel DeStefano Architects, these conceptual plans showcase a variety of ways the property could be transformed, saving time and adding value for the next owner.
Existing Conditions - At a Glance
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Building Area: Approx. 9,045+/- sq. ft. (including basement)
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Lot Size: 0.23+/- acres (10,180+/- sq. ft.)
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Levels: Multi-level - lower (2,614+/- sq. ft.), main (5,592+/- sq. ft.), upper (839+/- sq. ft.)
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Construction: Concrete block and frame
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Ceiling Heights: Up to 14’+/-
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Utilities: Public water, sewer, and gas
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Zoning: B2b Community Business Zone & Coastal Flood Resilience Overlay Zone
A Vision for the Future - Re-Use Potential
550 Washington offers a wealth of opportunities for redevelopment:
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Neighborhood Market Hall: Specialty grocer, café, and food stalls in an airy, open-concept space with street-level energy
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Boutique Retail or Gallery: Showcase Portland's makers, artisans, and creative community in a dynamic retail environment
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Creative Offices or Coworking: Light-filled, modern studios for startups and creative professionals, blending original charm with modern amenities
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Mixed-Use Redevelopment: Potential to combine ground-floor retail with upper-level residential lofts or studios (subject to approvals)
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Community or Nonprofit Hub: Activate the space for cultural, educational, or nonprofit uses that serve the community
A Conceptual Vision
Imagine 550 Washington Avenue transformed into a lively, mixed-use destination that anchors the neighborhood. Outside, refreshed facades, landscaping, and a corner plaza with seating and planters create a welcoming streetscape. Inside, an airy market hall and café draw locals and visitors alike, boutique shops and creative offices buzz with activity, and the lower level serves as a makerspace or incubator kitchen for local entrepreneurs.
It's a vision of a revitalized landmark - a vibrant place of connection, creativity, and commerce - ready for your inspiration and leadership to bring it to life.
Design options developed by Maugel DeStefano Architects are included, offering a head start toward making this vision reality.
Whether you're an investor, developer, or entrepreneur, 550 Washington Avenue is your opportunity to transform a high-profile property into a cornerstone of Portland's future.
Michael B. Carey | ME AUC Lic. 1466 | ME RE Lic. #DB919594