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Property profile & analytics
FOR LEASE
Office buildings
2 Gannett Dr, South Portland, ME 04106
Individually Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US42-0500663
For Lease
1 / 2
$24,180,000
2 Gannett Dr, South Portland, ME 04106
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1991
Total area
217,672 SF
Lot
17.8 ac (775,368 SF)
Zoning code
Z
APN
SPOR M:084 L:007
UPID
US42-0500663
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
by Request
Comparable Approach
Comparable
$28.04M
Blend (final)
Blend
$24.18M
Owner & transaction history
Wim Core Portfolio Owner · 6 yrs held
Wim Core Portfolio Owner
since 2020
3 recorded transactions
Zoning & alternative use
Z · South Portland, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$39,915,000
Current use
INDUSTRIAL (GENERAL)
$32,600,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$24.18M
Range $21.76M – $26.60M · ±10%
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
$111 / 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
$352,321
Tax year 2023
Assessed value
$24,916,600
Assessed 2023
Previous assessed
$24,915,000
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$2,970,400
Assessed improvement
$21,946,200
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
For Lease
Year built
1991
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
6
Units
1
Bathrooms
3
Total area
217,672 SF
Lot
17.8 ac (775,368 SF)
Zoning code
Z
APN
SPOR M:084 L:007
UPID
US42-0500663
Jurisdiction
SOUTH PORTLAND
Zoning & alternative use
Z · South Portland, ME
Zoning Z · permitted uses
Z · South Portland, ME
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
South Portland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$39.9M
INDUSTRIAL (GENERAL)
Est. value
$32.6M
OFFICE BUILDING Current
INDUSTRIAL (GENERAL)
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
1991
Heating
HOT WATER
Cooling
Yes
Stories
6
Buildings
1
Units
1
Bathrooms
3
Lot
17.8 ac
Current owner
From public records · entity-resolved
Wim Core Portfolio Owner
Individual
Mailing address
220 VIRGINIA AVE, INDIANAPOLIS, IN 46204-3709
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 21, 2020
—
Wim Core Portfolio Owner
—
Deed
related
$925,000,000 · Jpmorgan Chase Bank NA
Aug 24, 2017
—
Wim Core Portfolio Owner
—
Deed
related
$800,000,000 · Deutsche Bank
Aug 22, 2006
—
Beth C Robichaud
—
Deed Of Trust
related
$20,085 · Employees FCU
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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