Office Building with Private
481 Riverside Industrial Parkway, Portland, ME 04103
For Sale
$1,550,000
A flexible interior combines enclosed work areas, conference rooms, and shared staff space.
Property Size8,016 SF
Price / SF$193.36
Days on Market521
Property Features for 481 Riverside Industrial Parkway
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Condition
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Tenancy
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Alexandru Pirleci
(207) 239-6606
Source:
Integrityhomesrealestategroup
Added: Jun 9, 2025
Changed: Nov 11
Last Checked: Nov 11 at 2:23AM
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
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Investment Insights
Based on property information with market context.
The 8,016-square-foot office building was constructed in 1992 and includes private perimeter offices, conference rooms, and an open administrative area. A large kitchen and break room provide shared staff space, and the roof is newer. The property is currently used as a daycare, which is scheduled to relocate. Its IM - Industrial zoning and existing office layout provide the current configuration for evaluating future occupancy.
Parking capacity is estimated at 22 to 30 vehicles. The site is at 481 Riverside Industrial Parkway in Portland, Maine.
Parking capacity is estimated at 22 to 30 vehicles. The site is at 481 Riverside Industrial Parkway in Portland, Maine.
Key Highlights
- 8,016‑square‑foot office building constructed in 1992
- Private perimeter offices, conference rooms, and an open administrative area
- Large kitchen and break room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,758
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,295,160
$2.3M
Cap Rate 7%
$1,639,400
$1.6M
Cap Rate 9%
$1,275,089
$1.3M
Market Conditions
NOI Build-Up for 8,016 SF
Gross rent
$175.1K $21.84/SF
− Vacancy
−$22.1K −$2.75/SF
EGI
$153.0K $19.09/SF
− OpEx
−$38.3K −$4.77/SF
NOI
$114.8K $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 Rate 5%
$2,295,160
Cap Rate 7%
$1,639,400
Cap Rate 9%
$1,275,089
Alternative Uses
Best Use
Office B
$1.64M
$1.43M – $1.91M
NOI $114,758 @ 7.0% cap · market cap 7.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.20M
$1.93M – $2.57M
NOI $154,224 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
191
Businesses Nearby
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
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Market
Properties on Market for Office buildings in Portland
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - A flexible interior combines enclosed work areas, conference rooms, and shared staff space.
Where is this office building located?
The property is located at 481 Riverside Industrial Parkway Portland, ME.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 8,016‑square‑foot office building constructed in 1992; Private perimeter offices, conference rooms, and an open administrative area; Large kitchen and break room
