Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Sable Oaks Development Opportunity Title is generated by Realmo AI

    505 Sable Oaks Dr, South Portland, ME 04106

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

    4.99 acre commercial development site in South Portland, Maine.

    Type:Land
    Lot size:
    4.99 Acres
    Added:
    Mar 16, 2026
    Days on Market:
    59
    Last Refresh:
    Mar 19 at 11:45 pm

    Property Features for 505 Sable Oaks Dr

    General Information

    Standard status
    Active
    Lot size
    4.99 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Clay Hardy

    Listing agent Clay Hardy License #SA930400

    Listing office CORE

    Listing date Mar 16, 2026

    Source Crexi

    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 CORE

    HighLights

    • Rare 4.99± acre commercial development opportunity in the established Sable Oaks business campus.
    • Conceptual plans available for a three‑story, 50,000 SF Class A building with approximately 225 parking spaces.
    • Zoned CS – Suburban Commercial, allowing for a range of professional, medical, and institutional uses.
    • Strategically located minutes from I‑95, I‑295, the Maine Mall, and the Portland International Jetport.
    • Strong visibility along Sable Oaks Drive.
    • Opportunity to develop a high‑quality commercial project in a supply‑constrained submarket.

    Overview

    This 4.99 acre commercial development opportunity is located within the Sable Oaks campus at 505 Sable Oaks Drive in South Portland, Maine. It offers a chance to develop an office, medical, or life science facility in a well-established business corridor. Conceptual plans are available for a three-story Class A building totaling up to 50,000 square feet, designed with approximately 225 parking spaces and strong visibility along Sable Oaks Drive. The parcel is zoned CS – Suburban Commercial, allowing for professional, medical, and institutional uses. The location is positioned minutes from I-95, I-295, the Maine Mall, and the Portland International Jetport, providing regional accessibility and benefiting from the surrounding Sable Oaks corporate campus environment. This offering is suited for a developer, owner-occupant, or institutional user to deliver a commercial project in a supply-constrained submarket.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Building Supply Auto Repair Shop Hair Salon Big Box & Wholesale Store Spa & Massage Center Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    South Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.3373547
    Latitude
    43.6402064

    Nearby Similar for Sale

    • $619,000
      2,323 SF

      South Portland Two-Unit Property

      Two-unit property in South Portland's historic Ferry Village.
      134 - 136 Sawyer Street, South Portland, ME 04106
      View Details
    • $560,000

      Mixed-Use Property in South Portland

      Mixed-use property with office spaces and apartment in South Portland.
      854 Broadway, South Portland, ME 04106
      View Details
    • $560,000
      4,370 SF

      Mixed-Use Property on Broadway

      Highly visible mixed-use property in South Portland, Maine.
      854 Broadway, South Portland, ME 04106
      View Details
    • $4,327,286
      7,424 SF

      South Portland Medical Investment Opportunity

      Long-term NNN investment with a strong healthcare tenant.
      254 Western Ave, South Portland, ME
      View Details
    • $4,950,000
      20,700 SF

      Retail Building Near Maine Mall

      20,700 SF retail building on 2 acres for sale.
      130 Western Avenue, South Portland, ME
      View Details
    • $925,000
      4,530 SF

      Professional Condo Near Maine Mall

      Office space ideal for medical, dental, wellness, or clinical services.
      25B Long Creek Drive, South Portland, ME 04106
      View Details
    • $2,500,000
      12,694 SF

      Retail Space with Main Street Frontage

      Retail property for rent with high visibility and large yard.
      172 Main St, South Portland, ME
      View Details
    • $1,154,664
      4,952 SF

      Medical Outpatient Portfolio For Sale

      Two-property medical portfolio fully leased to Straine Dental Management.
      25 Long Creek Drive, South Portland, ME 04106
      View Details
    • $259,000

      Buildable Lot in South Portland

      Residential land in a desirable South Portland location.
      107 Marcelle Avenue, South Portland, ME 04106
      View Details
    • $3,800,000
      2,495 SF

      Office Space Near Maine Mall

      2,495 SF mixed-use/office space near Maine Mall.
      244 Western Ave, South Portland, ME
      View Details
    • Contact for pricing
      25,000 SF

      South Portland Commercial Land Opportunity

      4.14 acre commercial land parcel in South Portland, Maine.
      305 Cummings Rd, South Portland, ME
      View Details
    • $3,800,000
      19,188 SF

      Medical Office Space For Sale

      19,188 SF medical office space on 2.61 acres.
      244 Western Ave, South Portland, ME 04106
      View Details

    FAQs

    What type of property is this?
    Commercial land - 4.99 acre commercial development site in South Portland, Maine.
    Where is this commercial land located?
    The property is located at 505 Sable Oaks Dr South Portland, ME.
    What is the asking price?
    The asking price for this property is $1,995,000.
    What are key features of this property?
    This property features: Rare 4.99± acre commercial development opportunity in the established Sable Oaks business campus.; Conceptual plans available for a **three‑story, 50,000 SF Class A building with approximately 225 parking spaces**.; Zoned CS – Suburban Commercial, allowing for a range of professional, medical, and institutional uses.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Clay Hardy
    Real Estate License ID: SA930400
    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
    505 Sable Oaks Dr, South Portland, ME 04106
    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!