Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Portland Office Space For Lease Title is generated by Realmo AI

    396 Fore St, Portland, ME

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office suites for lease with harbor views in Old Port.

    Type:OFFICE
    Property size:
    1,900 SF
    Lot size:
    0.06 Acres
    Added:
    Jun 25, 2024
    Days on Market:
    690
    Last Refresh:
    Apr 5 at 8:31 pm

    Property Features for 396 Fore St

    General Information

    Standard status
    Active
    Size
    1,900 SF
    Lot size
    0.06 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 396 Fore St Contact us

    We can help!

    Listing Contact
    Thomas Moulton, CCIM, SIOR

    Listing agent Thomas Moulton, CCIM, SIOR

    Listing office The Dunham Group

    Listing date Jun 25, 2024

    Source Moodyscre

    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 The Dunham Group

    HighLights

    • Excellent Old Port location
    • Views of Portland Harbor
    • Great walkability, with access to restaurants and coffee shops
    • Two suite sizes available: 950± SF and 1,900± SF
    • Join Gritty’s at this popular Portland locale

    Overview

    Two office suites are available for lease at a property located on Fore Street in Portland. One suite offers 950 square feet of space on the second floor, while the other provides 1,900 square feet on the third floor. The suites feature views of Portland Harbor. The building is situated in the Old Port neighborhood, offering walkability and access to nearby restaurants and coffee shops.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Gritty McDuff's Brew ... Bar & Pub

    Suggested Use

    Real Estate Agency Dental Office Spa & Massage Center Restaurant Hair Salon Nail Salon Building Supply Daycare Center Auto Repair Shop Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.2535
    Latitude
    43.6563

    Nearby Similar for Lease

    • $129-$5,646/Mo
      11-1,292 SF

      ME, Portland - Congress

      400 Congress St, Unit 300, Portland, ME 04101
      View Details
    • $129-$5,817/Mo
      11-1,292 SF

      ME, Portland - Hutchins Dr

      41 1St St, Unit 3, Portland, ME 04102
      View Details
    • $24 SF/Yr
      5,081 SF

      Downtown Portland Office Space Available

      Full floor office suites for lease in Portland's financial district.
      48 Free St, Portland, ME
      View Details
    • $650/Mo
      460 SF

      Renovated Waterfront Office with Harbor Views

      Historic Class A office space with exposed beams and brick.
      254 Commercial St, Portland, ME
      View Details
    • $16 SF/Yr
      4,606 SF

      Historic Restaurant Space in Old Port

      Renovated restaurant space with patio in the Old Port.
      2-10 Cotton St, Portland, ME
      View Details
    • $26 SF/Yr
      7,500 SF

      Iconic Old Port Retail Space

      Prime retail location in the heart of Portland's waterfront district.
      373 Fore St, Portland, ME
      View Details
    • $30 SF/Yr
      2,800 SF

      Historic Office Space For Rent

      2,800 SF office space in historic Roundhouse complex.
      125 Presumpscot St, Portland, ME
      View Details
    • $18 SF/Yr
      3,288 SF

      Portland Flex/Service Space for Lease

      3,288± SF flex/service space in Portland's East Bayside District.
      31 Diamond St, Portland, ME
      View Details
    • $1,300/Mo
      259 SF

      Financial District Office Space

      Office suites available in the Financial District.
      1 Monument Way, Portland, ME
      View Details
    • $18 SF/Yr
      9,045 SF

      Portland Retail/Office Space For Sale

      Retail and office spaces available in Portland, Maine.
      550 Washington Ave, Portland, ME
      View Details
    • $23 SF/Yr
      2,618 SF

      Fore Street Office Space Available

      Office space for lease in vibrant Portland waterfront area.
      167 Fore St, Portland, ME
      View Details
    • $400/Mo
      1,059 SF

      Bayside Office Suite For Rent

      Office suite in Bayside with convenient access and parking.
      175 Lancaster St, Portland, ME
      View Details

    FAQs

    What type of property is this?
    Office units - Office suites for lease with harbor views in Old Port.
    Where is this office units located?
    The property is located at 396 Fore St Portland, ME.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: Excellent Old Port location; Views of Portland Harbor; Great walkability, with access to restaurants and coffee shops
    (207) 450-7100 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Thomas Moulton, CCIM, SIOR
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    396 Fore St, Portland, ME
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!