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    115 Cumberland Ave Portland, ME 04101
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    Property profile & analytics

    115 Cumberland Ave Portland, ME 04101

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    • Commercial real estate
    • 4,321 SF
    Off-Market
    Property ID
    US42-0456942
    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

    • Commercial real estate

    Property Details for 115 Cumberland Ave

    Year built
    1890
    Property size
    4,321 SF
    Property type
    Commercial real estate

    Description

    This exceptional retail opportunity is located at 115 Cumberland Avenue in Portland, Maine's vibrant East End neighborhood (zip code 04101). The property, built in 1890, is a three-story building with a total of 4,321 square feet, currently offering 600 square feet of vacant space ideal for a cafe or similar food service establishment. The building is zoned B2B Business Community, allowing for a variety of uses. The 0.796-acre lot provides excellent visibility for your business. Parking is available on the street. The space's compact size and flexible layout make it perfect for entrepreneurs seeking a high-traffic location to launch or expand their food-related business. This is a chance to become part of Portland's renowned culinary scene, capitalizing on the area's strong community support for local businesses and creative ventures. The property's multiple tenancy structure offers the potential for synergistic business relationships within the building. The high visibility and convenient location ensure maximum exposure to potential customers. This is a rare opportunity to secure a well-positioned space in a thriving Portland neighborhood. Don't miss out on this chance to establish your presence in a dynamic and sought-after area. The property features a prime location with high foot traffic and excellent visibility, making it an ideal spot for a cafe, coffee shop, sandwich shop, or other quick-service restaurant.

    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
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.2518499
    Latitude
    43.6638863

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    Similar Nearby for Lease

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      Portland Flex Space with Restaurant

      10,894± SF commercial space in Portland's popular neighborhood.
      123 Washington Ave, Portland, ME 04101
      View Details
    • Contact for pricing
      1,689 SF

      Old Port Retail Space

      Retail space in a highly visible location.
      25 Pearl St, Portland, ME 04101
      View Details
    • Contact for pricing
      3,288 SF

      Portland Flex/Service Space for Lease

      3,288± SF flex/service space in Portland's East Bayside District.
      31 Diamond St, Portland, ME 04101
      View Details
    • $70 SF/Yr
      1,548 SF

      Retail Space in Old Port

      Ground-level retail space with restaurant infrastructure in Old Port.
      425 Forest, Portland, ME 04101
      View Details
    • Contact for pricing
      1,000 SF

      Restaurant Space in Monument Square

      Restaurant space in a high-traffic, downtown Portland location.
      15 Monument Sq, Portland, ME 04101
      View Details
    • Contact for pricing
      2,500 SF

      Iconic Old Port Retail Space

      Prime retail location in the heart of Portland's waterfront district.
      375 Forest, Portland, ME 04101
      View Details
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    115 Cumberland Ave
    Portland, ME 04101
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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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