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    Industrial Building Near Major Routes Title is generated by Realmo AI

    275 Read St, Portland, ME 04103

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    16,546 SF building on 1 acre near I-95.

    Type:Industrial
    Property size:
    16,546 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $151/SF
    Added:
    Aug 13, 2024
    Days on Market:
    672
    Last Refresh:
    May 12 at 8:17 pm

    Property Features for 275 Read St

    General Information

    Standard status
    Active
    Size
    16,546 SF
    Lot size
    1.00 Acre
    Property subtype
    Industrial

    Building Details

    Year Built
    1988

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    Listing Contact
    Jonathan Rizzo

    Listing agent Jonathan Rizzo License #BR923031

    Listing office The Boulos Company Portland

    Listing date Aug 13, 2024

    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 The Boulos Company Portland

    HighLights

    • 16,546± SF building
    • Prime location off Route 302
    • Situated between I‑95 and I‑295
    • Forest Avenue visibility
    • 1± acre lot
    • Built in 1988

    Overview

    The property features a 16,546-square-foot building situated on approximately 1 acre. It is located off Route 302, offering visibility from Forest Avenue and convenient access between I-95 and I-295.

    Local Financial Insights For Warehouse

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $156.9k $9.48
    − Vacancy −$5.6k −$0.34
    EGI $151.3k $9.14
    − OpEx −$22.7k −$1.37
    NOI $128.6k $7.77
    16,546 SF · lease $9.48/SF/yr · vacancy 3.57% · expense 15.00%

    Alternative Uses

    Best Use
    Warehouse
    $1.84M
    $1.61M – $2.14M (±1% cap)
    NOI $128,568 @ 7.0% cap · market cap 5.14%
    Second Best
    Industrial
    $1.51M
    $1.32M – $1.76M (±1% cap)
    NOI $105,879 @ 7.0% cap · market cap 4.24%
    Theoretical Best
    Office A
    $4.55M
    $3.98M – $5.31M (±1% cap)
    NOI $318,338 @ 7.0% cap · market cap 12.73%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Business Equipment Unlimited Big Box & Wholesale Store

    Suggested Use

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

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

    Similar Places Nearby

    • Americold Logistics Portland — 165 Read St, Portland, ME 04103
    • Morrills Corner Self Storage — 24 Morrill St, Portland, ME 04103
    • Read Self Storage Facility — 254 Read St, Portland, ME 04103

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.2893548
    Latitude
    43.6844856

    FAQs

    What type of property is this?
    Warehouse - 16,546 SF building on 1 acre near I-95.
    Where is this warehouse located?
    The property is located at 275 Read St Portland, ME.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: 16,546± SF building; Prime location off Route 302; Situated between I‑95 and I‑295
    More about this property
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