Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    60 Pineland Dr New Gloucester, ME 04260
    Back to Search
    Property profile & analytics

    60 Pineland Dr, New Gloucester, ME 04260

    View on Map
    • Office Spaces
    • 258,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • John Paul II Institute For Theology / Church / Mosque
    • Big Country Built / Construction Company / General Contractor
    • ScentSimple Candle Co / Home Decor Store / Department Store
    • Rune Acupuncture / Alternative Medicine Practice / Acupuncture
    • COASTAL MARKETING / Association / Organization

    Property Details for 60 Pineland Dr

    Year built
    1911
    Property type
    Office Spaces
    Property subtype
    Office buildings

    Description

    Pineland Center, a stunning Class A office building in New Gloucester, Maine, offers a unique blend of historic charm and modern amenities. This 258,000 square foot property, situated on a sprawling 224-acre lot, boasts 12 suites, with a minimum divisible space of 1,305 square feet and a maximum contiguous space of 24,557 square feet currently available. Built in 1911 and meticulously renovated, the building provides a sophisticated and prestigious work environment. The property features ample free parking, along with conference and meeting spaces, catering to the needs of various businesses. Located in Cumberland County, at 60 Pineland Dr, New Gloucester, ME 04260, this exceptional office park offers easy access to Portland (within a half-hour drive) and Lewiston/Auburn (fifteen minutes away). The property's location combines the tranquility of a rural setting with convenient access to major urban centers. This executive office space is ideal for companies seeking a high-quality, amenity-rich environment in a highly desirable location. The available space is perfect for businesses of all sizes, from smaller executive offices to larger corporate tenants. The property's modern communications technology ensures seamless connectivity, while its aesthetic design creates a productive and inspiring workspace. This is an unparalleled opportunity to secure prime office space in a prestigious and well-maintained building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New Gloucester
    County
    Cumberland
    State
    Maine
    Longitude
    -70.2564
    Latitude
    43.9029

    Comparable in this City

    • Value Estimation by Request
      9,500 SF

      16 Pineland Dr

      Office Units
      16 Pineland Dr, New Gloucester, ME 04260
      View Details
    • Value Estimation by Request
      258,000 SF

      83 Pineland Dr

      Office Units
      83 Pineland Dr, New Gloucester, ME 04260
      View Details
    • Value Estimation by Request
      0.07 Acres

      15 Sunrise Ln

      OFFICE BUILDING
      15 Sunrise Ln, New Gloucester, ME 04260-2621
      View Details
    • Value Estimation by Request
      18.15 Acres

      Highview Dr

      OFFICE BUILDING
      Highview Dr, New Gloucester, ME 04260
      View Details
    • Value Estimation by Request
      2,256 SF

      632 Bald Hl Rd

      OFFICE BUILDING
      632 Bald Hl Rd, New Gloucester, ME 04260-3218
      View Details
    • Value Estimation by Request
      1.00 Acre

      21 Uppr Vlg Rd

      OFFICE BUILDING
      21 Uppr Vlg Rd, New Gloucester, ME 04260-3424
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,062 SF

      Turnkey Retail/Restaurant Space For Sale

      2,062 SF building on 1.5 acres in growing commuter corridor.
      1055 Lewiston Rd, New Gloucester, ME 04260
      View Details
    • Contact for pricing

      New Gloucester Retail/Restaurant Opportunity

      Turnkey retail or restaurant space in Southern Maine.
      1055 Me-100, New Gloucester, ME 04260
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,500 SF

      Class A Office Space Available

      Premier office park with recreational amenities, 9,500± SF available.
      16 Pineland Dr, New Gloucester, ME 04260
      View Details
    • Contact for pricing

      Modern Office Space in New Gloucester

      Class A office space in a historic, rural campus.
      60 Pineland Dr, New Gloucester, ME 04260
      View Details
    • Contact for pricing

      Class A Mixed-Use Office Park

      9,500± SF available in premier office park.
      16 Pineland Dr, New Gloucester, ME 04260
      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.
    60 Pineland Dr
    New Gloucester, ME 04260
    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
    60 Pineland Dr, New Gloucester, ME, 04260
    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!