Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Old Port Office Space Title is generated by Realmo AI

    424 Fore St, Portland, ME 04101

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space available for rent in Old Port.

    Type:Office
    Added:
    Jun 10, 2022
    Days on Market:
    1442
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 424 Fore St

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1900

    Spaces For Lease

    at 424 Fore St Contact us

    Third Floor $13/Mo

    Size
    3,050 SF
    Type
    Office
    Contact us

    We can help!

    Listing Contact
    Peter Harrington

    Listing agent Peter Harrington License #ME BA900499

    Listing office Malone Commercial Brokers

    Listing date Jun 10, 2022

    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 Malone Commercial Brokers

    HighLights

    • Old Port location
    • Office space
    • Built in 1900
    • Historic building with unique architectural details
    • Unique architectural details
    • Prime business address

    Overview

    Office space is available for rent in the Old Port area. The property is located at 424 Fore St, Portland, ME 04101.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Casco Bay Engineering Engineering Consultant CruiseMaine Travel Agency Cushman Mary T Family Counselor CS Boutique (Condom ... Clothing & Fashion Store Cushman & Cushman Family Counselor

    Suggested Use

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

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

    Similar Places Nearby

    • tkc.io — 158 Danforth St, Portland, ME 04102
    • J.D. Polcek — 53 Danforth St Apt. #3C, Portland, ME 04101
    • Kindly Ops LLC — 30 Danforth St #214, Portland, ME 04101
    • Visual Edge IT New England | Portland — 565 Congress St Unit 308, Portland, ME 04101
    • uBreakiFix - Phone and Computer Repair — 614 Congress St, Portland, ME 04101

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.2541192
    Latitude
    43.65593

    Nearby Similar for Lease

    • $129-$5,646/Mo
      11-1,292 SF

      ME, Portland - Congress

      400 Congress St, Unit 300, Portland, ME 04101
      View Details
    • $129-$5,817/Mo
      11-1,292 SF

      ME, Portland - Hutchins Dr

      41 1St St, Unit 3, Portland, ME 04102
      View Details
    • $24 SF/Yr
      5,081 SF

      Downtown Portland Office Space Available

      Full floor office suites for lease in Portland's financial district.
      48 Free St, Portland, ME
      View Details
    • $650/Mo
      460 SF

      Renovated Waterfront Office with Harbor Views

      Historic Class A office space with exposed beams and brick.
      254 Commercial St, Portland, ME
      View Details
    • $16 SF/Yr
      4,606 SF

      Historic Restaurant Space in Old Port

      Renovated restaurant space with patio in the Old Port.
      2-10 Cotton St, Portland, ME
      View Details
    • $18 SF/Yr
      2,445 SF

      Renovated Office Space in Portland

      Second floor office space for lease in Portland's Financial District.
      50 Monument Sq, Portland, ME
      View Details
    • $26 SF/Yr
      7,500 SF

      Iconic Old Port Retail Space

      Prime retail location in the heart of Portland's waterfront district.
      373 Fore St, Portland, ME
      View Details
    • $30 SF/Yr
      2,800 SF

      Historic Office Space For Rent

      2,800 SF office space in historic Roundhouse complex.
      125 Presumpscot St, Portland, ME
      View Details
    • $18 SF/Yr
      3,288 SF

      Portland Flex/Service Space for Lease

      3,288± SF flex/service space in Portland's East Bayside District.
      31 Diamond St, Portland, ME
      View Details
    • $24 SF/Yr
      905 SF

      Historic Old Port Office Space

      Office suites in historic building, walking distance to amenities.
      237 Commercial St, Portland, ME
      View Details
    • $1,300/Mo
      259 SF

      Financial District Office Space

      Office suites available in the Financial District.
      1 Monument Way, Portland, ME
      View Details
    • $18 SF/Yr
      9,045 SF

      Portland Retail/Office Space For Sale

      Retail and office spaces available in Portland, Maine.
      550 Washington Ave, Portland, ME
      View Details

    FAQs

    What type of property is this?
    Office space - Office space available for rent in Old Port.
    Where is this office space located?
    The property is located at 424 Fore St Portland, ME.
    What are key features of this property?
    This property features: Old Port location; Office space; Built in 1900
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Peter Harrington
    Real Estate License ID: ME BA900499
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    424 Fore St, Portland, ME 04101
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!