Freestanding Retail Building with Pylon
For Sale
$3,995,000
130 Western Ave, South Portland, ME 04106
Freestanding retail building with newer roof and HVAC on a corner lot at a lighted intersection.
Property Size20,700 SF
Lot Size2.00 Acres
Price / SF$192
Days on Market57
Property Features for 130 Western Ave
General Information
Standard status
Active
Size
20,700 SF
Lot size
2.00 Acres
Property subtype
Retail
Site & Location
Corner Location
Yes
Pylon Signage
Yes
Traffic Count
32,000 vehicles/day
Highway Access
Yes
Additional Details
Asking Price
$4,950,000
Building Details
Building Size
20,700 SF
Year Built
1987
Listed By:
Chris Paszyc, CCIM, SIOR
(207) 939-4147
Source:
Boulos
Added: Jul 28
Changed: Sep 10
Last Checked: Sep 21 at 4:43AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Chris Paszyc, CCIM, SIOR
Investment Insights
Based on property information with market context.
This freestanding retail building offers 20,700± SF of space on a 2±-acre lot. The property is positioned on the corner of Gorham Road and Western Avenue near Maine Mall, providing storefront visibility at a lighted intersection. Traffic counts average total 32,000± vehicles per day, and the property includes a freestanding roadside pylon sign.
The building features newer roof and HVAC and is described as being in excellent condition. Access is supported by proximity to major regional routes, including I-95 and I-295, with the Portland Jetport nearby.
The property also supports a wide variety of permitted commercial uses, making it suitable for a range of retail and other commercial tenants.
The building features newer roof and HVAC and is described as being in excellent condition. Access is supported by proximity to major regional routes, including I-95 and I-295, with the Portland Jetport nearby.
The property also supports a wide variety of permitted commercial uses, making it suitable for a range of retail and other commercial tenants.
Key Highlights
- 20,700± SF freestanding retail building
- 2± acres
- Corner of Gorham Road and Western Avenue at a lighted intersection
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$216,481
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,329,620
$4.3M
Cap Rate 7%
$3,092,586
$3.1M
Cap Rate 9%
$2,405,344
$2.4M
Market Conditions
NOI Build-Up for 20,700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$372.6K $18.00/SF
− Vacancy
−$63.3K −$3.06/SF
EGI
$309.3K $14.94/SF
− OpEx
−$92.8K −$4.48/SF
NOI
$216.5K $10.46/SF
Area
Cumberland County, ME
Vacancy
17.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,329,620
Cap Rate 7%
$3,092,586
Cap Rate 9%
$2,405,344
Alternative Uses
Best Use
Retail
$3.09M
$2.71M – $3.61M
NOI $216,481 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.69M
$4.98M – $6.64M
NOI $398,259 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
32,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,040
Businesses Nearby
318k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 31%
Apparel 24%
Home Improvements & Furnishings 18%
Groceries 15%
T.J. Maxx
Apparel
60,541 visits/mo
0.5 miles
Hannaford
Groceries
48,944 visits/mo
0.4 miles
The Home Depot
Home Improvements & Furnishings
37,627 visits/mo
0.2 miles
Olive Garden
Dining
32,067 visits/mo
0.3 miles
Buffalo Wild Wings
Dining
22,413 visits/mo
0.1 miles
Demographics for 04106, ME
26,641
Population
12,849
Households
2.1
Avg Household Size
41
Median Age
49%
College-Educated
95%
High-School Grad
12.2 sq mi
ZIP Area
2,184
Density / Sq Mi
$83,744
Median Household Income
$47,818
Median Earnings
$1,642
Median Rent
$403,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Retail space - Freestanding retail building with newer roof and HVAC on a corner lot at a lighted intersection.
Where is this retail space located?
The property is located at 130 Western Ave South Portland, ME.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: 20,700± SF freestanding retail building; 2± acres; Corner of Gorham Road and Western Avenue at a lighted intersection
