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Property profile & analytics
OFF-MARKET
Estimated value
$4,145,000
Office buildings
217 Commercial St Portland, ME 04101-4679
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US42-0518020
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1900
Total area
28,815 SF
Lot
0.15 ac (6,530 SF)
APN
PTLD M:032 B:V005001
UPID
US42-0518020
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
Current use
Occupant on record · Public records
-
Colliers in Maine & New Hampshire Real Estate Agency
-
Gideon Asen LLC Law Firm
-
Maine Business Brokers Real Estate Appraiser Real Estate Consultant
-
Dextrous Creative Architecture Firm
-
First Pier Marketing & Advertising (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.15M
Owner & transaction history
Chase Block LLC · 7 yrs held
Chase Block LLC
since 2019
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$5.8M
+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 Portland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs 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
$5,285,000
Current use
RETAIL STORES
$5,845,000
Change: +11% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$4,315,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$4.15M
Range $3.73M – $4.56M · ±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
$144 / 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
$79,702
Tax year 2023
Assessed value
$5,531,000
Assessed 2023
Previous assessed
$5,531,000
+0.0% YoY
Effective rate
1.44%
On assessed value
Assessed land
$592,100
Assessed improvement
$4,938,900
Applied tax rate
60,545.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Heating
FORCED AIR
Buildings
1
Units
1
Total area
28,815 SF
Lot
0.15 ac (6,530 SF)
APN
PTLD M:032 B:V005001
UPID
US42-0518020
Jurisdiction
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
$5.3M
RETAIL STORES
Est. value
$5.8M
INDUSTRIAL (GENERAL)
Est. value
$4.3M
OFFICE BUILDING Current
RETAIL STORES
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
1900
Heating
FORCED AIR
Buildings
1
Units
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
Chase Block LLC
Entity
Mailing address
PO BOX 7626, PORTLAND, ME 04112-7626
Ownership since
2019
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 25, 2019
—
Chase Block LLC
217 Commercial St Assoc
Quit Claim Arm's Length For Ne States
$4,500,000 · Gorham Savings Bank
Apr 24, 2013
—
217 Commercial St. Assoc
—
Deed Of Trust
related
$1,000,000 · Gorham Savings Bank
Apr 14, 2008
—
217 Commercial St. Assoc
—
Deed Of Trust
related
$1,500,000 · Key Bank NA
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.
Try Rey
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