Renovated Flex Space with Drive-In
New
For Sale
Contact for pricing
73 Rainmaker Drive, Portland, ME 04103
Commercially zoned space includes office and conference areas with heating and air conditioning.
Property Size2,200 SF
Price / SF$238.64
Days on Market7
Property Features for 73 Rainmaker Drive
General Information
Standard status
Active
Size
2,200 SF
Total Parking Spaces
3
Property subtype
Office, Industrial
Zoning
Commercial
Lease Type
NNN
Additional Details
Drive-In Doors
1
Amenities
conference room
Building Details
Tenancy
Single
Listing Agency:
Porta & Co
Listed By:
Charles W. Day · License #ME BR 913583
(207) 838-3335
Source:
Crexi
Added: Aug 28
Changed: Sep 3
Last Checked: Sep 3 at 2:16AM
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 Porta & Co
Investment Insights
Based on property information with market context.
This 2,200± SF flex property combines industrial functionality with finished workspace in a recently renovated setting. The layout includes an office area and conference room, supported by both heat and air conditioning. A grade-level drive-in door provides direct building access for commercial operations.
The property is located at 73 Rainmaker Drive in Portland, Maine, minutes from I-95. Commercial zoning supports its established flex-space positioning and offers a practical setting for businesses requiring a blend of office and industrial features.
The property is located at 73 Rainmaker Drive in Portland, Maine, minutes from I-95. Commercial zoning supports its established flex-space positioning and offers a practical setting for businesses requiring a blend of office and industrial features.
Key Highlights
- 2,200± SF of industrial/flex space
- Grade‑level drive‑in door
- Recently renovated interior
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
$17,095
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
3.26%
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%
$341,900
$341.9K
Cap Rate 7%
$244,214
$244.2K
Cap Rate 9%
$189,944
$189.9K
Market Conditions
NOI Build-Up for 2,200 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
$20.9K $9.48/SF
− Vacancy
−$745 −$0.34/SF
EGI
$20.1K $9.14/SF
− OpEx
−$3.0K −$1.37/SF
NOI
$17.1K $7.77/SF
Area
Cumberland County, ME
Vacancy
3.57%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$341,900
Cap Rate 7%
$244,214
Cap Rate 9%
$189,944
Alternative Uses
Best Use
Warehouse
$244.2K
$213.7K – $284.9K
NOI $17,095 @ 7.0% cap · market cap 3.26%
Second Best
Industrial
$201.1K
$176.0K – $234.6K
NOI $14,078 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$604.7K
$529.1K – $705.5K
NOI $42,327 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
344
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercially zoned space includes office and conference areas with heating and air conditioning.
Where is this flex space located?
The property is located at 73 Rainmaker Drive Portland, ME.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,200± SF of industrial/flex space; Grade‑level drive‑in door; Recently renovated interior
