Building Details

Building Size 30,287 SF

Year Built 1946

Tenancy Single

Listing Agency: The Boulos Company

Listed By: Drew Sigfridson, SIOR Show Phone

Source: Boulos

Added: Jun 2 Changed: Oct 10 Last Checked: Oct 16 at 5:52AM

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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 The Boulos Company

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Investment Insights

Based on property information with market context.

This manufacturing property has operated as a seafood wholesale and processing facility and was constructed in 1946. The asset is occupied by a single tenant under a net lease extending through 11/25/2032. The lease assigns property expenses, building repairs, and maintenance responsibilities to the tenant.

The property is positioned on the Portland peninsula within the city’s industrial sector. It is adjacent to I-295 Exit 4, a significant commuter connection, and is near Portland’s working waterfront and food-production businesses, including Tyson Foods.

Key Highlights

• Single‑tenant net lease extends through 11/25/2032
• Tenant responsible for property expenses, building repairs, and maintenance
• Seafood wholesale and processing use

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$193,809

Cap Rate

4.56%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,876,180 $3.9M

Cap Rate 7%

$2,768,700 $2.8M

Cap Rate 9%

$2,153,433 $2.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 30,287 SF

Gross rent

$287.1K $9.48/SF

− Vacancy

−$10.3K −$0.34/SF

EGI

$276.9K $9.14/SF

− OpEx

−$83.1K −$2.74/SF

NOI

$193.8K $6.40/SF

Area

Cumberland County, ME

Vacancy

3.57%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,876,180

Cap Rate 7%

$2,768,700

Cap Rate 9%

$2,153,433

Alternative Uses

Best Use

Industrial

$2.77M

$2.42M – $3.23M (±1% cap)

NOI $193,809 @ 7.0% cap · market cap 4.56%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$8.32M

$7.28M – $9.71M (±1% cap)

NOI $582,708 @ 7.0% cap · market cap 13.71%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Manufacturing properties

Suggested Use

Top Pick Big Box & Wholesale Store Building Supply Dental Office Storage Facility HVAC Service Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,530

Businesses Nearby

Explore this area Business Placement

Demographics for 04102, ME

18,002

Population

8,633

Households

2.1

Avg Household Size

38

Median Age

62%

College-Educated

96%

High-School Grad

6.0 sq mi

ZIP Area

3,000

Density / Sq Mi

$79,631

Median Household Income

$47,898

Median Earnings

$1,435

Median Rent

$464,100

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Manufacturing property - Industrial facility occupied by a seafood wholesaler and processor under a long-term net lease.

Where is this manufacturing property located?

The property is located at 75 Saint John St Portland, ME.

What is the asking price?

The asking price for this property is $4,250,000.

What are key features of this property?

This property features: Single‑tenant net lease extends through 11/25/2032; Tenant responsible for property expenses, building repairs, and maintenance; Seafood wholesale and processing use