Conference-Room Office
New
For Sale
$515,000
527 Ocean Avenue, Portland, ME 04103
The suite combines private offices with reception, meeting, and support areas.
Property Size2,786 SF
Price / SF$184.85
Days on Market5
Property Features for 527 Ocean Avenue
General Information
Standard status
Active
Size
2,786 SF
Class
B
Property subtype
Office
Additional Details
Highway Access
Yes
Office Units
1
Property Use
Office
Building Details
Building Size
2,786 SF
Year Built
1987
Listed By:
Chris Romano
(207) 233-1792
Source:
Boulos
Added: Oct 28
Last Checked: Oct 30 at 10:58AM
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 Chris Romano
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1987, this 2,786± SF office unit has 8–10 private offices, workspace, conference rooms, a reception area, a kitchenette, and three bathrooms.
At the intersection of Ocean Avenue and Washington Avenue, the property offers access to downtown Portland, Falmouth, North Deering, and I-295. Nearby amenities include Payson Park, the Back Cove Trail, Cheverus High School, and Monte’s Fine Foods.
At the intersection of Ocean Avenue and Washington Avenue, the property offers access to downtown Portland, Falmouth, North Deering, and I-295. Nearby amenities include Payson Park, the Back Cove Trail, Cheverus High School, and Monte’s Fine Foods.
Key Highlights
- 2,786± SF office unit built in 1987
- 8–10 private offices, conference rooms, and workspace
- Reception area, kitchenette, and three bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,885
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$797,700
$797.7K
Cap Rate 7%
$569,786
$569.8K
Cap Rate 9%
$443,167
$443.2K
Market Conditions
NOI Build-Up for 2,786 SF
Gross rent
$60.8K $21.84/SF
− Vacancy
−$7.7K −$2.75/SF
EGI
$53.2K $19.09/SF
− OpEx
−$13.3K −$4.77/SF
NOI
$39.9K $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%
$797,700
Cap Rate 7%
$569,786
Cap Rate 9%
$443,167
Alternative Uses
Best Use
Office B
$569.8K
$498.6K – $664.8K
NOI $39,885 @ 7.0% cap · market cap 7.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$765.7K
$670.0K – $893.4K
NOI $53,601 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
412
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - The suite combines private offices with reception, meeting, and support areas.
Where is this office unit located?
The property is located at 527 Ocean Avenue Portland, ME.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: 2,786± SF office unit built in 1987; 8–10 private offices, conference rooms, and workspace; Reception area, kitchenette, and three bathrooms
