Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    72 Ocean St South Portland, ME 04106
    Back to Search
    Property profile & analytics

    72 Ocean St, South Portland, ME 04106

    View on Map
    • Retail properties & Spaces
    • 1,620 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 72 Ocean St

    Year built
    2009
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This 1,620 square foot retail condominium, located at 72 Ocean Street in South Portland, Maine, presents a compelling investment opportunity. Built in 2009, this property is situated within the VC - Village Commercial District, offering excellent visibility and accessibility. The building, a three-story structure, is currently 100% occupied by Petalage Floral Studio, ensuring a steady income stream. The asking price is $450,000, translating to $277.78 per square foot. The property's location in South Portland's Knightville neighborhood places it within a dynamic area experiencing significant growth in retail and restaurant businesses. Its convenient proximity to the Casco Bay Bridge and downtown Portland further enhances its appeal. With a walk score of 71, the property benefits from high pedestrian traffic. The property features one unit within a single building, and its APN is Map 15, Block 105, Lot 113. This investment opportunity combines strong location, current occupancy, and growth potential in a desirable Maine market. The property's zoning and existing lease provide a solid foundation for future returns. This is an exceptional chance to acquire a well-situated retail space in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    South Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.2537
    Latitude
    43.6394

    Comparable in this City

    • Value Estimation by Request
      5,120 SF

      566 Main St

      Individual retail properties
      566 Main St, South Portland, ME 04106
      View Details
    • Value Estimation by Request
      1,972 SF

      1095 Broadway

      RETAIL STORES (PERSONAL SERVICES)
      1095 Broadway, South Portland, ME 04106-5721
      View Details
    • Value Estimation
      $560,000
      5,000 SF

      460 Cottage Rd

      RETAIL STORES (PERSONAL SERVICES)
      460 Cottage Rd, South Portland, ME 04106-4925
      View Details
    • Value Estimation
      $11,725,000
      110,378 SF

      240 Running Hl Rd

      DEPARTMENT STORE
      240 Running Hl Rd, South Portland, ME 04106
      View Details
    • Value Estimation
      $2,255,000
      23,859 SF

      371 Western Ave

      DEPARTMENT STORE
      371 Western Ave, South Portland, ME 04106-1705
      View Details
    • Value Estimation
      $1,920,000
      6,380 SF

      100 Gorham Rd

      DEPARTMENT STORE
      100 Gorham Rd, South Portland, ME 04106-2405
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,936 SF

      Freestanding Retail Space For Rent

      Freestanding retail space with high traffic and signage potential.
      684 Main St, South Portland, ME 04106
      View Details
    • Contact for pricing
      20,700 SF

      Retail Building Near Maine Mall

      20,700 SF retail building on 2 acres for sale.
      130 Western Ave, South Portland, ME 04106
      View Details
    • Contact for pricing
      12,694 SF

      Retail Space with Main Street Frontage

      Retail property for rent with high visibility and large yard.
      172 Main St, South Portland, ME 04106
      View Details
    • Contact for pricing
      1,148 SF

      South Portland Retail/Office Building

      Mixed-use building in a dynamic, walkable neighborhood near Portland.
      8 Cottage Rd, South Portland, ME 04106
      View Details
    • $259,000
      0.17 Acres

      Buildable Lot in South Portland

      Residential land in a desirable South Portland location.
      107 Marcelle Ave, South Portland, ME 04106
      View Details
    • Contact for pricing

      Sable Oaks Development Opportunity

      4.99 acre commercial development site in South Portland, Maine.
      505 Sable Oaks Dr, South Portland, ME 04106
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Corner Retail Building with Pylon Sign

      Freestanding retail building on a corner lot with strong visibility and updated roof and HVAC for dependable occupancy.
      130 Western Ave, South Portland, ME 04106
      View Details
    • Contact for pricing
      1,700 SF

      Retail/Office Space For Lease

      Retail/office space in high-traffic South Portland location.
      209 Western Ave, South Portland, ME 04106
      View Details
    • Contact for pricing
      12,808 SF

      Retail Space in Cornerbrook Plaza

      High-performing retail center with flexible space and excellent accessibility.
      343 Gorham Rd, South Portland, ME 04106
      View Details
    • Contact for pricing
      1,054 SF

      Retail Space Near Maine Mall

      Retail space with high visibility and ample parking available for lease.
      29 Western Ave, South Portland, ME 04106
      View Details
    • Contact for pricing
      2,647 SF

      Restaurant/Retail Space For Sublease

      2,647± SF restaurant/retail space available for sublease.
      185 Cottage Rd, South Portland, ME 04106
      View Details
    • Contact for pricing
      6,006 SF

      Turn-Key Restaurant in Knightville

      Impeccable 6006 SF restaurant space available for immediate occupancy.
      60 Ocean St, South Portland, ME 04106
      View Details
    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.
    72 Ocean St
    South Portland, ME 04106
    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
    72 Ocean St, South Portland, ME, 04106
    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!