Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1 Runway Rd South Portland, ME 04106
    Back to Search
    Property profile & analytics

    1 Runway Rd, South Portland, ME 04106

    View on Map
    • Industrial properties
    • 6.59 lot acres
    For Lease
    $7 SF/Yr
    View Listing →
    South Portland Industrial/Flex Space For Lease
    $7 SF/Yr
    2,400 SF

    South Portland Industrial/Flex Space

    2,400± SF industrial/flex space for lease in South Portland.

    1 Runway Rd, South Portland, ME 4106
    View Listing
    Property ID
    US42-0391301
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial properties

    Property Details for 1 Runway Rd

    Lot size
    6.59 lot acres
    Zone code
    Z
    Property type
    Industrial properties
    APN
    SPOR M:080-A L:005-A
    APU
    SPORM080AL005A

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 21, 2021 — Wallace 53 LLC — Deed · related $814k · Skowhegan Savings Bank

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    South Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.3069
    Latitude
    43.6113
    CBSA code
    38860
    CBSA name
    PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $42,909
    $599,700
    $2,434,900
    $3,034,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      34.33 Acres

      50 Hemco Rd

      INDUSTRIAL (GENERAL)
      50 Hemco Rd, South Portland, ME 04106
      View Details
    • Value Estimation
      $820,000
      10,016 SF

      175 Frnt St

      INDUSTRIAL (GENERAL)
      175 Frnt St, South Portland, ME 04106-1509
      View Details
    • Value Estimation
      $970,000
      13,398 SF

      30 Hl St

      INDUSTRIAL (GENERAL)
      30 Hl St, South Portland, ME 04106-4201
      View Details
    • Value Estimation by Request
      1.69 Acres

      27th Main St

      INDUSTRIAL (GENERAL)
      27th Main St, South Portland, ME 04106-2617
      View Details
    • Value Estimation
      $860,000
      11,765 SF

      1 Lincoln St

      INDUSTRIAL (GENERAL)
      1 Lincoln St, South Portland, ME 04106-2612
      View Details
    • Value Estimation by Request
      15.40 Acres

      1156 Broadway

      INDUSTRIAL (GENERAL)
      1156 Broadway, South Portland, ME 04106-5711
      View Details

    Similar Nearby for Sale

    • $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
      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
    • $560,000
      4,370 SF

      Mixed-Use Property on Broadway

      Highly visible mixed-use property in South Portland, Maine.
      854 Broadway, South Portland, ME 04106
      View Details
    • $560,000
      0.23 Acres

      Mixed-Use Office and Apartment

      Mixed-use property with private offices and a 1-bedroom apartment, complemented by an in-building office layout.
      854 Broadway, South Portland, ME 04106
      View Details
    • Contact for pricing
      4,530 SF

      Professional Condo Near Maine Mall

      Office space ideal for medical, dental, wellness, or clinical services.
      25B Long Creek Dr, South Portland, ME 04106
      View Details
    • 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

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Facility with Modern Office

      Well-maintained industrial and office space near I-95 and Jetport.
      76 Darling Ave, South Portland, ME 04106
      View Details
    • Contact for pricing
      2,400 SF

      South Portland Industrial/Flex Space

      2,400± SF industrial/flex space for lease in South Portland.
      1 Runway Rd, South Portland, ME 04106
      View Details
    • Contact for pricing
      8,114 SF

      South Portland Class A Office

      Class A office and flex space in South Portland for lease.
      75 John Roberts Rd, South Portland, ME 04106
      View Details
    • Contact for pricing
      1,875 SF

      South Portland Industrial Flex Space

      Flexible industrial space in South Portland, minutes from I-295.
      130 Thadeus St, South Portland, ME 04106
      View Details
    • Contact for pricing
      123,120 SF

      Industrial Development Opportunity in Maine

      8.65 acre industrial site for lease in South Portland.
      2 Lincoln St, South Portland, ME 04106
      View Details
    • Contact for pricing

      South Portland Warehouse and Office

      Warehouse and office space for lease in South Portland.
      1 Madison St, South Portland, ME 04106
      View Details
    View Listing
    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.
    1 Runway Rd
    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
    1 Runway Rd, 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!