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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    150 Read St Portland, ME 04103-3445

    • Warehouses
    • 59,520 SF
    • 3.63 lot acres
    OFF-MARKET
    Last Sale
    Mar 16, 2023
    $5,575,000
    Value Estimations
    $5,835,000
    Show details
    Cap Rate Potential
    8.5%
    Warehouses
    Location Intelligence
    Property ID
    US42-0798704
    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.

    Current Use by Public Records

    • Bunzl Maine / Warehouse
    • VoltRide / Bicycle Shop

    Property Details for 150 Read St

    Year built
    1977
    Lot size
    3.63 lot acres
    Property size
    59,520 SF
    Property type
    Warehouses
    APN
    PTLD M:147 B:B002001
    APU
    PTLDM147BB002001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,410,000
      ML approach
      $5,380,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,710,000
      6.5%
      $7,115,000
      7%
      $6,605,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $8,780,000
      AUTO REPAIR, GARAGE
      $5,655,000
      RETAIL STORES
      $5,650,000
      COMMERCIAL (GENERAL)
      $4,945,000
      OFFICE BUILDING
      $4,945,000
      APARTMENT HOUSE (5+ UNITS)
      $4,700,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.2853
    Latitude
    43.6818
    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
    2024
    $44,521
    $510,300
    $2,455,800
    $2,966,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $615,000
      13,440 SF

      81 Warren Ave

      WAREHOUSE, STORAGE • 13,440 SF
      81 Warren Ave, Portland, ME 04103
      View Details
    • Value Estimation
      $1,275,000
      45,270 SF

      400 Warren Ave

      WAREHOUSE, STORAGE • 45,270 SF
      400 Warren Ave, Portland, ME 04103-1109
      View Details
    • Value Estimation
      $1,490,000
      52,717 SF

      405 Riverside St

      WAREHOUSE, STORAGE • 52,717 SF
      405 Riverside St, Portland, ME 04103
      View Details
    • Value Estimation by Request
      6,000 SF

      10 Manuel Dr

      Flex space • 6,000 SF
      10 Manuel Dr, Portland, ME 04103
      View Details
    • Value Estimation
      $1,645,000
      11,253 SF

      31 Waldron Way

      WAREHOUSE, STORAGE • 11,253 SF
      31 Waldron Way, Portland, ME 04103-5944
      View Details
    • Value Estimation
      $5,215,000
      38,111 SF

      429 Warren Ave

      WAREHOUSE, STORAGE • 38,111 SF
      429 Warren Ave, Portland, ME 04103-1294
      View Details

    Similar Nearby for Sale

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    • $1,200,000
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      Riverside Industrial Park Warehouse

      8,100 SF industrial building with loading docks and parking.
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    • $2,500,000
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      Industrial/Flex Building Near Route 302

      Industrial/flex building with visibility and low vacancy rates.
      275 Read St, Portland, ME 04103
      View Details
    • $2,500,000
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      Portland Flex Space - $2.5M

      Prime Portland flex space, 16,546 SF, high visibility.
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    • $3,795,000
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      High-traffic retail space, flexible layouts.
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    • $9,850,000

      33.17 Acre Development Site

      33.17 acre development site in dense residential neighborhood.
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    Similar Nearby for Lease

    • $10 SF/Yr
      31,900 SF

      Warehouse and Office Space Available

      27,500 SF warehouse and 4,400 SF office space for lease.
      250 Read St, Portland, ME 04103
      View Details
    • $12 SF/Yr
      3,000 SF

      Portland Flex Unit For Lease

      3,000 SF flex unit in Portland industrial park.
      220 Industrial Way, Portland, ME 04103
      View Details
    • Contact for pricing
      17,600 SF

      91 Industrial Way: Portland Industrial Space

      Versatile Industrial Units, Portland, ME
      91 Industrial Way, Portland, ME 04103
      View Details
    • $17 SF/Yr
      10,609 SF

      Portland Industrial/Office Gem

      10,609 SF, 2-Story Flex Space
      160 Presumpscot St, Portland, ME 04103
      View Details
    • $9 SF/Yr
      160,106 SF

      Portland High Bay Warehouse For Lease

      160,000+ SF Warehouse, 70,000 SF Available
      765 Warren Ave, Portland, ME 04103
      View Details
    • $15 SF/Yr
      5,400 SF

      Riverside Street Industrial Flex Space

      5,400 SF Flex Warehouse For Lease
      597 Riverside St, Portland, ME 04103
      View Details
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    150 Read St
    Portland, ME 04103-3445
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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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