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    100 Larrabee Rd Westbrook, ME 04092
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    100 Larrabee Rd, Westbrook, ME 04092

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    • Commercial real estate
    • 7.06 lot acres
    For Lease
    $14 SF/Yr
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    Retail Space at Larrabee Complex For Lease
    $14 SF/Yr
    7,400 SF

    Retail Space at Larrabee Complex

    7,400± SF retail space for lease, excellent visibility.

    100 Larrabee Rd, Westbrook, ME 4092
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    Property ID
    US42-0429064
    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
    $15,680,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Westbrook Family Dentistry / Dental Office
    • Sim-City Indoor Golf / Golf Course
    • Club Champion / Golf Course / (Bike/Boat/Book/etc) Store
    • ChaseNLines / Hair Salon
    • Critical Alert Systems / Distribution Center / Logistics Company

    Property Details for 100 Larrabee Rd

    Lot size
    7.06 lot acres
    Zone code
    17
    Property type
    Commercial real estate
    APN
    WSBR M:042-B L:006
    APU
    WSBRM042BL006

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 22, 2023 — 100 Larrabee LLC — Deed · related $400k · Maine Community Bank
    Jul 28, 2022 $14,900,000 100 Larrabee LLC Wb Larrabee LLC Quit Claim Arm's Length For Ne States $11.2M · Mechanics Savings Bank
    May 12, 2021 — W&b Larrabee LLC — Deed · related $7.9M · Mechanics Savings Bank
    Jan 12, 2017 — Wb Larrabee LLC We 100 Larrabee Road L Quit Claim Deed · related $615k
    Mar 9, 2009 — We 100 Larrabee Road LLC Miele Properties INC Grant Deed $5.4M · Gorham Savings Bank
    Dec 1, 2008 — Miele Properties INC — Deed Of Trust · related $3.6M · Gorham Savings Bank

    Description

    This exceptional 10,679 square foot executive office suite is available for lease at 100 Larrabee Road in Westbrook, Maine. Located within the 101,250 square foot Larrabee Complex, this space offers a flexible layout ideal for a variety of businesses. The suite boasts a ceiling height of 16-18 feet (dropped to acoustical ceiling tiles), providing ample room and a modern feel. The property is a multi-tenant building, offering a vibrant and collaborative environment. Ample free on-site parking is available for tenants and their guests. The building's prime location offers excellent visibility and accessibility, situated less than one mile from Exits 47 and 48 of the Maine Turnpike/I-95. This strategic location places the property directly across from Rock Row, a major retail development, and in close proximity to the Portland International Jetport, the Maine Mall area, and Downtown Portland. The property is classified as both retail and office space, making it a versatile option for businesses seeking a prominent Westbrook address in Cumberland County, Maine, zip code 04098. This is a rare opportunity to secure a substantial and well-located space in a thriving commercial area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $17,240,000
      ML approach
      $9,750,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Westbrook
    County
    Cumberland
    State
    Maine
    Longitude
    -70.3353
    Latitude
    43.6766
    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
    $236,963
    $3,523,700
    $10,682,700
    $14,206,400
    -
    $0.00
    $0.00
    $0.00

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      207 Larrabee Rd

      COMMERCIAL (GENERAL)
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      View Details

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      Westbrook Warehouse Space for Lease

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    Westbrook, ME 04092
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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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    100 Larrabee Rd, Westbrook, ME, 04092
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