Single-Tenant Manufacturing
For Sale
$4,450,000
75 Saint John St, Portland, ME 04102
Industrial facility occupied by a seafood wholesaler and processor under a long-term net lease.
Property Size30,287 SF
Days on Market91
Property Features for 75 Saint John St
General Information
Standard status
Active
Size
30,287 SF
Property subtype
Industrial
Additional Details
Highway Access
Yes
Building Details
Building Size
30,287 SF
Year Built
1946
Tenancy
Single
Listing Agency:
The Boulos Company
(207) 831-5838
Listed By:
Drew Sigfridson, SIOR · License ##SA926420
(207) 831-5838
Source:
Boulos
Added: Jun 2
Changed: Aug 31
Last Checked: Aug 31 at 12:27AM
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
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.
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 = 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
$193,809
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
4.36%
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%
$3,876,180
$3.9M
Cap Rate 7%
$2,768,700
$2.8M
Cap Rate 9%
$2,153,433
$2.2M
Market Conditions
NOI Build-Up for 30,287 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
$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 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%
$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
NOI $193,809 @ 7.0% cap · market cap 4.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.32M
$7.28M – $9.71M
NOI $582,708 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 $4,450,000.
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
