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    275 Read St Portland, ME 04103

    For Sale
    $2,500,000

    Prime Portland flex space, 16,546 SF, high visibility.

    Property size:
    16,546 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 16,546-square-foot flex building presents a compelling investment opportunity in Portland, Maine. Located at 275 Read Street, this single-story, Class B property boasts a prime location off Route 302, strategically positioned between I-95 and I-295, ensuring excellent accessibility and high visibility from Forest Avenue. Built in 1988, the building sits on a one-acre lot (APN: Map 150, Lot 9/1) and is zoned IL. The asking price is $2,500,000, translating to $151.09 per square foot. Featuring an 18-foot ceiling height, this property offers ample space and flexibility for a variety of uses. Currently occupied by a wholly-owned Xerox subsidiary since 1998, this building benefits from a history of stable occupancy and low vacancy rates within the Portland industrial/flex market. This presents a rare opportunity to acquire a well-located, established property with significant potential for future growth and return on investment. The property consists of one building with one unit.

    Property Features for 275 Read St

    General Information

    Property type
    Flex space
    Square Feet
    16,546 SF
    Class
    B
    Lot Size
    43,560 SF

    Building Details

    Year Built
    1988
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • $2,500,000 asking price for a 16,546 SF flex building.
    • Portland, ME industrial/mixed‑use property, Class B.
    • 1‑story building on a 1‑acre lot, built in 1988.
    • 18' ceiling height.
    • Located at 275 Read St, Portland, ME 04103, APN Map 150, Lot 9/1.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Business Equipment Unlimited Office Equipment Supplier

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.289532753003
    Latitude
    43.684212853749

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    FAQs

    What type of property is this?
    Flex space - Prime Portland flex space, 16,546 SF, high visibility.
    Where is this flex space 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: $2,500,000 asking price for a 16,546 SF flex building.; Portland, ME industrial/mixed-use property, Class B.; 1-story building on a 1-acre lot, built in 1988.
    Request Owner's contact information
    275 Read St Portland, ME 04103
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    Portland, ME 04103
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    275 Read St Portland, ME 04103
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