Flex Warehouse with Office
480 Riverside Street Portland, ME 04103
New
For Sale
$1,500,000
COMMERCIAL - Portland, ME
Property Size6,020 SF
Lot Size1.46 Acres
Price / SF$249.17
Days on Market1
Property Features for 480 Riverside Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- IM
- Standard status
- Active
- Size
- 6,020 SF
- Lot size
- 1.46 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 9920
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
Last Checked: Jul 24 at 8:06PM
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.
This flex warehouse property combines functional office space with warehouse support areas. The building includes office space, a conference room, a kitchen, a utility room, a server room, and a mezzanine area, along with dedicated warehouse space. The overall layout is adaptable for an owner-occupied setup or potential multi-tenant use.
The site is zoned IM and sits on 1.46 acres in Portland, Maine, at 480 Riverside Street. The property totals 6,020 square feet.
With both workplace improvements and warehouse space in place, the building is designed to support day-to-day operations from within the same structure.
The site is zoned IM and sits on 1.46 acres in Portland, Maine, at 480 Riverside Street. The property totals 6,020 square feet.
With both workplace improvements and warehouse space in place, the building is designed to support day-to-day operations from within the same structure.
Key Highlights
- Built in 1986
- Roof type: membrane
- Includes office space, a conference room, kitchen, warehouse space, and utility room
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
New England Communications
Telecommunications Service
FAQs
What type of property is this?
Flex space - Flex warehouse includes office space, conference room, kitchen, and warehouse area within a mezzanine layout.
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: Built in 1986; Roof type: membrane; Includes office space, a conference room, kitchen, warehouse space, and utility room
