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    244 Western Ave South Portland, ME 04106

    For Lease
    $26 SF/Yr

    Prime Medical Office Space Available

    Lot size:
    17,071 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 17,071 square foot medical office building, situated on a 2.61-acre lot in desirable South Portland, Maine, presents a unique investment opportunity. Built in 1976, the single-building property is zoned CS-Suburban Commercial and boasts a multiple-tenancy configuration, ideal for a variety of medical practices or healthcare-related businesses. The property's address is 244 Western Avenue, South Portland, ME 04106, conveniently located within Cumberland County. Its ample lot size provides significant potential for expansion or future development. The property's assessed parcel number (APN) is Map 67, Lot 20. This well-maintained building offers a substantial footprint for a growing medical practice or a portfolio addition for an investor seeking a stable, established property in a thriving market. The property's location offers easy access to major transportation routes, ensuring convenient access for patients and staff. The building's age provides an opportunity for potential renovations or upgrades to meet current market demands and enhance its value. This is a rare opportunity to acquire a well-positioned medical office building in a highly sought-after location. Serious inquiries are encouraged.

    Property Features for 244 Western Ave

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    17,071 SF
    Total Rate
    36987.17

    Building Details

    Year Built
    1976
    Buildings
    1

    Unit(s) available at that property

    Space
    Medical Office Building
    Size
    17,071 SF
    Rate per SF
    $26

    HighLights

    • 17,071± SF medical office building on 2.61± acres.
    • Subdividable space available.
    • 92± on‑site parking spaces.
    • Excellent signage opportunities.
    • Building features 11 exam rooms, 3 treatment rooms, and 2 operating rooms.
    • Also available for sale.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    South Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.324835615145
    Latitude
    43.637172106618

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    FAQs

    What type of property is this?
    Medical office - Prime Medical Office Space Available
    Where is this medical office located?
    The property is located at 244 Western Ave South Portland, ME.
    What is the lease rate?
    The lease rate is $26 SF/Yr.
    What are key features of this property?
    This property features: 17,071± SF medical office building on 2.61± acres.; Subdividable space available.; 92± on-site parking spaces.
    Request Owner's contact information
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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
    244 Western Ave South Portland, ME 04106
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