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Property profile & analytics
FOR LEASE
Industrial properties
1 Runway Rd South Portland, ME 04106
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US42-0391301
For Lease
1 / 11
Contact for pricing
1 Runway Rd, South Portland, ME 04106
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Property summary
AI-generated overview
This exceptional executive office property at 1 Runway Road in South Portland, Maine, offers 52,610 square feet of renovated space. Currently, 17,100 square feet is available for lease, divisible into units ranging from 2,700 to a maximum contiguous 14,400 square feet. The building features two suites, ideal for single or multi-tenant occupancy. Built in 1982 and extensively renovated in 2022, the property boasts 24-foot ceilings and abundant natural light. Ample parking is provided with 150+ spaces. The building is served by 3-phase, 480-volt, 1200-amp power. Situated on a 7.05-acre lot, the property is zoned Non-Residential Industrial (INR) in Cumberland County (zip code 04106). Its convenient location offers easy access to I-295 and I-95, with a short commute to downtown Portland. This is a rare opportunity to secure high-quality, flexible office space in a desirable location.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Lot
6.59 ac (287,060 SF)
Zoning code
Z
APN
SPOR M:080-A L:005-A
UPID
US42-0391301
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Wallace 53 LLC · 4 yrs held
Wallace 53 LLC
since 2021
1 recorded transaction
Zoning & alternative use
Z · South Portland, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs South Portland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Portland submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$42,909
Tax year 2023
Assessed value
$3,034,600
Assessed 2023
Previous assessed
$3,034,600
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$599,700
Assessed improvement
$2,434,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Buildings
2
Units
1
Lot
6.59 ac (287,060 SF)
Zoning code
Z
APN
SPOR M:080-A L:005-A
UPID
US42-0391301
Jurisdiction
SOUTH PORTLAND
Zoning & alternative use
Z · South Portland, MEZoning Z · permitted uses
Z · South Portland, ME
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Buildings
2
Units
1
Lot
6.59 ac
Current owner
From public records · entity-resolved
Wallace 53 LLC
Entity
Mailing address
16 BOWDOIN AVE, SOUTH PORTLAND, ME 04106-5603
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2021
—
Wallace 53 LLC
—
Deed
related
$814,000 · Skowhegan Savings Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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