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Overview

Summary

  • Issue Date September 10, 2026
  • Pre-Submittal Meeting October 13, 2026
  • Question Deadline October 27, 2026
  • Final Submission Deadline December 18, 2026
  • *Please see broker for details

The City of Portland has exclusively hired The Boulos Company to market the unique opportunity to purchase, lease, or otherwise develop on a 3.5± acre tract of land located in Portland’s Bayside Neighborhood. This land is separated into four parcels, and the City will consider offers for one or multiple parcels.

The recently changed zoning regulations allow for the construction of dense commercial housing, as well as other uses. The property’s prime location further enhances its appeal. Situated near I-295’s Franklin Arterial Exit, as well as existing public transportation, it offers excellent transportation connectivity for residents.

Additionally, the property is located in walking distance to Whole Foods, Hannaford, and Trader Joes. It is also located directly on the Bayside Trail, which connects pedestrians to Deering Oaks Park, Back Cove, and the Eastern Prom. These parcels are also adjacent to a plethora of retail, cultural, educational, and dining options.

The Boulos Company has published an RFP which describes the selection process, timeline for transactions, and a narrative on what the City wants to see on these sites.

The properties are located directly on the Bayside Trail, which provides pedestrian and bicycle connectivity to the Eastern Prom, Back Cove Trail, multiple grocery stores, schools, parks, breweries, restaurants, and civic event centers.

118,877 residents and 55,693 households create a substantial and established customer base within a 5-mile radius.

$91,079 median household income and $209,484 median net worth point to a strong, affluent consumer base with significant purchasing power.
$72,637 median disposable income provides residents with meaningful discretionary spending capacity, supporting a healthy local retail and service market.

91,079 businesses employing 116,527 people contribute to a dynamic and diverse economic environment, generating significant daytime activity and employment density.

71.9% of the workforce is employed in white-collar occupations, reflecting a professional demographic and a strong concentration of higher-skilled employment.

Location Map

Parcels

0 Elm Street

Map 34

Block 1

Lot D

Lot Size: 0.459 AC

Lot Frontage: 200' (on Elm St.)

75 Somerset Street

Map 22

Block A

Lot 22

Lot Size: 1.456 AC

Lot Frontage: 80’ (on Elm St.) 460’ (on Somerset St.) 145’ (on Chestnut St.)

59 Somerset Street

Map 25

Block B

Lot 3

Lot Size: 1.064 AC

Lot Frontage: 370’ (on Somerset St.) 130’ (on Chestnut St.)

25 Somerset Street

Map 25

Block B

Lot 3

Lot Size: 0.486 AC

Lot Frontage: 140’ (on Somerset St.)

Team

The Boulos Company is a Maine and New Hampshire commercial real estate firm dedicated to serving owners, investors, and tenants, blending Maine and New Hampshire market knowledge with a global network. Founded by Joseph Boulos in 1975, the firm has grown to include more than 40 Portland, Maine, Portsmouth, and Manchester, New Hampshire-based employees, including our experienced brokerage team and our highly skilled, professional operations team. When you work with The Boulos Company, you can expect a consistent level of professionalism and adherence to our firm’s core values.