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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Office buildings
13 Ocean St, South Portland, ME 04106-2888
Individually Owned
10-yr Hold
Property ID
US42-0895674
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1900
Construction
FRAME
Total area
3,729 SF
Lot
0.11 ac (4,792 SF)
APN
SPOR M:015 L:087
UPID
US42-0895674
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
$875k
Comparable Approach
Comparable
$588k
Blend (final)
Blend
$725k
Owner & transaction history
Edward E Millett · 10 yrs held
Edward E Millett
since 2015
Last sale
$717,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$805,000
+17.6%
Retail stores
$755,000
+10.6%
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$950,000
6.5%
$875,000
7%
$815,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$685,000
Current use
COMMERCIAL (GENERAL)
$805,000
Change: +18% · Conversion: Easy
RETAIL STORES
$755,000
Change: +11% · Conversion: Moderate
Blend value · Realmo final
$725k
Range $653k – $798k · ±10% · vs last sale $717k (Feb 20 2026)
Last sale anchor
$717k
Feb 20 2026
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$194 / SF
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
$7,658
Tax year 2023
Assessed value
$541,600
Assessed 2023
Previous assessed
$455,500
+18.9% YoY
Effective rate
1.41%
On assessed value
Assessed land
$155,300
Assessed improvement
$386,300
Applied tax rate
71,990.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1900
Construction
FRAME
Heating
HOT WATER
Buildings
1
Stories
2
Units
2
Bathrooms
3
Total area
3,729 SF
Lot
0.11 ac (4,792 SF)
APN
SPOR M:015 L:087
UPID
US42-0895674
Jurisdiction
SOUTH PORTLAND
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$685,000
COMMERCIAL (GENERAL)
Est. value
$805,000
RETAIL STORES
Est. value
$755,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Construction
FRAME
Heating
HOT WATER
Stories
2
Buildings
1
Units
2
Bathrooms
3
Lot
0.11 ac
Current owner
From public records · entity-resolved
Edward E Millett
Individual
Mailing address
13 OCEAN ST, SOUTH PORTLAND, ME 04106-2888
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2015
—
Edward E Millett
13 Ocean LLC
Warranty Deed
$330,000 · Private Individual
Apr 25, 2013
—
13 Ocean LLC
—
Deed Of Trust
related
$60,000 · Bangor Savings Bank
Feb 14, 2012
—
13 Ocean LLC
Maine Exteriors LLC
Warranty Deed
related
—
Feb 11, 2011
—
Mecap LLC
Deutsche Bank Natl T Co
Warranty Deed
related
$220,000 · Misc Other
Jul 23, 2010
—
Maine Homes Old
Millett,edward E
Grant Deed
related
—
Jun 27, 2006
—
Edward E Millett
—
Deed Of Trust
related
$464,500 · Suntrust Mortgage INC
Feb 1, 2006
—
Edward E Millett
—
Deed Of Trust
related
$50,000 · Option One Mortgage Corp
Jun 29, 2005
—
Edward E Millett
Millett,edward E
Deed Of Trust
related
$390,000 · Northside Mortgage Group
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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