Flex Building with Warehouse
For Sale
$1,500,000
480 Riverside Street, Portland, ME 04103
Commercial Sale, Portland, ME
Property Size6,020 SF
Lot Size1.46 Acres
Price / SF$249.17
Days on Market47
Property Features for 480 Riverside Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
IM
Lot features
Near Turnpike/ Interstate, Near Shopping
Standard status
Active
Size
6,020 SF
Lot size
1.46 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
9920
Amenities
conference room
kitchen
Building Details
Year built
1986
Roof type
Membrane
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Kevin Coyne
(207) 560-8000
Added: Jul 24
Changed: Aug 19
Last Checked: Sep 8 at 9:06AM
MLS# 1673422
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 480 Riverside Street in Portland, this 6,020-square-foot flex property combines office and warehouse functions in a single building. The interior includes dedicated office space, a conference room, kitchen, utility room, server room, warehouse area, and mezzanine, providing a range of work and operational environments. The layout is suited to owner occupancy and may also support a multi-tenant configuration.
The property encompasses 1.46 acres and carries IM zoning. Built in 1986, the building has a membrane roof and offers a practical mix of administrative, storage, and industrial-oriented areas. Its component spaces provide flexibility for a business requiring both office functions and warehouse capacity.
The property encompasses 1.46 acres and carries IM zoning. Built in 1986, the building has a membrane roof and offers a practical mix of administrative, storage, and industrial-oriented areas. Its component spaces provide flexibility for a business requiring both office functions and warehouse capacity.
Key Highlights
- 6,020‑square‑foot flex building with office and warehouse components
- 1.46‑acre property in Portland, ME
- IM zoning
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
$86,183
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
5.75%
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%
$1,723,660
$1.7M
Cap Rate 7%
$1,231,186
$1.2M
Cap Rate 9%
$957,589
$957.6K
Market Conditions
NOI Build-Up for 6,020 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
$131.5K $21.84/SF
− Vacancy
−$16.6K −$2.75/SF
EGI
$114.9K $19.09/SF
− OpEx
−$28.7K −$4.77/SF
NOI
$86.2K $14.32/SF
Area
Cumberland County, ME
Vacancy
12.60%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
25.00%
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%
$1,723,660
Cap Rate 7%
$1,231,186
Cap Rate 9%
$957,589
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 04103, ME
31,185
Population
14,336
Households
2.2
Avg Household Size
40
Median Age
58%
College-Educated
97%
High-School Grad
10.2 sq mi
ZIP Area
3,057
Density / Sq Mi
$90,682
Median Household Income
$48,640
Median Earnings
$1,571
Median Rent
$421,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial building combining office, warehouse, and support areas within an industrially zoned property.
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‑square‑foot flex building with office and warehouse components; 1.46‑acre property in Portland, ME; IM zoning
