Office Warehouse Flex
480 Riverside Street Portland, ME 04103
For Sale
$1,500,000
Vacant office and warehouse property with an 8x8 drive-in door, office amenities, and 24 parking spaces.
Property Size6,020 SF
Price / SF$249.17
Days on Market9
Property Features for 480 Riverside Street
General Information
Standard status
Active
Size
6,020 SF
Property subtype
Commercial
Building Details
Year Built
1986
Listing Agency:
Keller Williams Realty
Listed By:
Kevin Coyne
(603) 433-3350
Source:
Greatislandrealty
Added: Jul 21
Changed: Jul 28
Last Checked: Jul 28 at 10:49AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 6,020± square-foot office and warehouse property is delivered vacant at closing and includes a functional mix of office and warehouse space. The layout features office space, a conference room, kitchen, utility room, server room, and a mezzanine area, supporting either an owner-user configuration or potential multi-tenant occupancy.
The building includes one 8' x 8' drive-in overhead door and 24± on-site parking spaces. It is positioned in Portland’s Riverside commercial corridor with convenient access to I-95 and major transportation routes, along a high-traffic commercial corridor.
The rubber membrane roof was replaced in 2018. The property offers a flexible building footprint designed to support both office needs and warehouse operations.
The building includes one 8' x 8' drive-in overhead door and 24± on-site parking spaces. It is positioned in Portland’s Riverside commercial corridor with convenient access to I-95 and major transportation routes, along a high-traffic commercial corridor.
The rubber membrane roof was replaced in 2018. The property offers a flexible building footprint designed to support both office needs and warehouse operations.
Key Highlights
- 6,020± SF office and warehouse building built in 1986 in Portland’s Riverside commercial corridor
- Delivered vacant at closing for immediate occupancy or leasing; suitable for single‑user or multi‑tenant use
- Includes 8' x 8' drive‑in overhead door plus office space, conference room, kitchen, utility room, server room, and mezzanine
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $131.5k | $21.84 |
| − Vacancy | −$16.6k | −$2.75 |
| EGI | $114.9k | $19.09 |
| − OpEx | −$28.7k | −$4.77 |
| NOI | $86.2k | $14.32 |
6,020 SF · lease $21.84/SF/yr · vacancy 12.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.23M
$1.08M – $1.44M
NOI $86,183 @ 7.0% cap · market cap 5.75%
Second Best
Warehouse
$668.2K
$584.7K – $779.6K
NOI $46,777 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$1.65M
$1.45M – $1.93M
NOI $115,822 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Flex space - Vacant office and warehouse property with an 8x8 drive-in door, office amenities, and 24 parking spaces.
Where is this flex space located?
The property is located at 480 Riverside Street Portland, ME.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 6,020± SF office and warehouse building built in 1986 in Portland’s Riverside commercial corridor; Delivered vacant at closing for immediate occupancy or leasing; suitable for single‑user or multi‑tenant use; Includes 8' x 8' drive‑in overhead door plus office space, conference room, kitchen, utility room, server room, and mezzanine
