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    Property profile & analytics

    352 Warren Ave Portland, ME 04103

    • Office space
    • 27,052 SF
    For Lease
    View listing
    $13 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US42-0076773
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • MADD LLC / Construction Company
    • Travis Penny - Maine Mortgage Broker / Mortgage Broker / Mortgage Lender
    • Vision Mortgage / Mortgage Broker
    • Sub Builders Inc / Contractor
    • Mowatt's Automotive / Auto Repair Shop

    Property Details for 352 Warren Ave

    Year built
    1988
    Property size
    27,052 SF
    Property type
    Office space
    Property subtype
    Coworking space

    Description

    This exceptional 2,500 square foot first-floor commercial condo is situated in the Warren Avenue Trade Center in Portland, Maine. Located at 352 Warren Ave, zip code 04103, this Class A end-cap suite boasts abundant natural light from numerous windows. The current configuration offers a versatile layout including private offices, an open workspace, and a dedicated conference area. The space is part of a larger 27,052 square foot, two-story building constructed in 1988. The property is zoned B4 - Commercial Business (APN: 303 G001007) and benefits from convenient access to I-95 Exit 48, ensuring high visibility and easy commutes. Parking is available in common with other tenants. This is a single-suite building with multiple potential uses, suitable for traditional office, executive office, coworking, or creative office spaces. The property is located in the Greater Portland submarket cluster of Portland, Maine. While there are no elevators, the first-floor location offers easy accessibility. Utilities are available. This presents a unique opportunity to acquire a well-positioned commercial space in a thriving Portland business district.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.31259935
    Latitude
    43.68686258

    Comparable in this City

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      Portland Office Space for Lease

      Prime Portland Office: 5,000-10,000 SF Available
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    • $850 /Mo
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      Portland Office/Flex Suite for Rent

      715± SF office/flex suite in convenient Portland location.
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    Similar Nearby for Lease

    • $10 SF/Yr
      31,900 SF

      Warehouse and Office Space Available

      27,500 SF warehouse and 4,400 SF office space for lease.
      250 Read St, Portland, ME 04103
      View Details
    • $1,300 /Mo
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      Renovated Office Suite For Lease

      750± SF renovated office suite in North Deering, Portland.
      1321 Washington Ave, Portland, ME 04103
      View Details
    • $12 SF/Yr
      44,919 SF

      Portland Office Space for Lease

      Prime Portland Office: 5,000-10,000 SF Available
      1037 Forest Ave, Portland, ME 04103
      View Details
    • $850 /Mo
      715 SF

      Portland Office/Flex Suite for Rent

      715± SF office/flex suite in convenient Portland location.
      80 Bell St, Portland, ME 04103
      View Details
    • $14 SF/Yr
      3,000 SF

      Portland Office Space For Lease

      3,000 SF office space suitable for professional services.
      973 Forest Ave, Portland, ME 04103
      View Details
    • $14 SF/Yr
      3,700 SF

      Historic Office Space For Lease

      Historic office space available for lease in former firehouse.
      19 Arbor St, Portland, ME 04103
      View Details
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    352 Warren Ave
    Portland, ME 04103
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    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
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