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    7 Rand Rd Portland, ME 04102

    Sponsored
    For Lease
    $10 SF/Yr

    Modern Portland office, ample parking, I-95 access

    Lot size:
    242,965 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Portland, Maine office property at 7 Rand Road offers 22,000 square feet of recently renovated executive office space available for lease. The building, totaling 242,965 square feet, is situated on a generous 18.37-acre lot and boasts a convenient location less than one mile from Maine Turnpike/I-95 Exit 47, ensuring easy access for employees and clients. Built in 1972 and extensively renovated in 2023, the two-story building provides a modern and updated workspace. The property features ample on-site parking, a significant advantage in a bustling urban environment. Individual suites range from a minimum of 8,000 square feet to a maximum contiguous space of 14,000 square feet, offering flexibility for businesses of various sizes. The property is zoned IM (Industrial Zone) within Cumberland County, and the 04102 zip code provides access to numerous neighborhood amenities. This is a unique opportunity to secure high-quality, readily available office space in a prime Portland location. The building consists of two suites, and the total vacant space is 22,000 square feet.

    Property Features for 7 Rand Rd

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    242,965 SF
    Total Rate
    202470.83

    Building Details

    Year Built/Renovated
    1972/2023
    Stories
    2

    Unit(s) available at that property

    Space
    2nd floor
    Size
    14,000 SF
    Rate per SF
    $10
    Space
    1st Floor
    Size
    8,000 SF
    Rate per SF
    $10

    HighLights

    • Subdividable office space, minimum 8,000 SF.
    • Less than one mile from Maine Turnpike Exit 47.
    • Ample on‑site parking.
    • Brand new natural gas HVAC system.
    Property Profile Location Intelligence

    Current Use by Public Records

    Brockway Smith Co Warehouse

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop 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
    -70.3243755
    Latitude
    43.6716232

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    FAQs

    What type of property is this?
    Office Property / Space - Modern Portland office, ample parking, I-95 access
    Where is this office property / space located?
    The property is located at 7 Rand Rd Portland, ME.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: Subdividable office space, minimum 8,000 SF.; Less than one mile from Maine Turnpike Exit 47.; Ample on-site parking.
    Request Owner's contact information
    7 Rand Rd Portland, ME 04102
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    Portland, ME 04102
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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
    7 Rand Rd Portland, ME 04102
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