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Property profile & analytics
OFF-MARKET
Estimated value
$10,335,000
Manufacturing properties
217 Read St Portland, ME 04103-3426
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US42-0446275
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1949
Total area
80,353 SF
Lot
1.46 ac (63,624 SF)
APN
PTLD M:150 B:A005001
UPID
US42-0446275
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
-
Read Street Self Storage Storage Facility
-
Takeashower Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.97M
CAP Approach
CAP
$7.91M
Comparable Approach
Comparable
$7.82M
Blend (final)
Blend
$10.34M
Owner & transaction history
217 Read&quarry Sts LLC · 4 yrs held
217 Read&quarry Sts LLC
since 2022
Last sale
$11.5M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$16.3M
+35.4%
Office building
$14.7M
+22.4%
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
$13,305,000
ML approach
$9,970,000
CAP Approach
CAP Return
Estimation
6%
$8,570,000
6.5%
$7,910,000
7%
$7,345,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$12,035,000
Current use
RETAIL STORES
$16,295,000
Change: +35% · Conversion: Moderate
OFFICE BUILDING
$14,735,000
Change: +22% · Conversion: Difficult
COMMERCIAL (GENERAL)
$11,185,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$10.34M
Range $9.30M – $11.37M · ±10% · vs last sale $11.50M (Mar 31 2022)
Last sale anchor
$11.50M
Mar 31 2022
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
$129 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$38,559
Tax year 2024
Assessed value
$2,568,900
Assessed 2024
Previous assessed
$2,568,900
+0.0% YoY
Effective rate
1.50%
On assessed value
Assessed land
$355,000
Assessed improvement
$2,213,900
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1949
Heating
HOT WATER
Buildings
1
Units
1
Total area
80,353 SF
Lot
1.46 ac (63,624 SF)
APN
PTLD M:150 B:A005001
UPID
US42-0446275
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
INDUSTRIAL (GENERAL) Current
Est. value
$12.0M
RETAIL STORES
Est. value
$16.3M
OFFICE BUILDING
Est. value
$14.7M
COMMERCIAL (GENERAL)
Est. value
$11.2M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (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
1949
Heating
HOT WATER
Buildings
1
Units
1
Lot
1.46 ac
Current owner
From public records · entity-resolved
217 Read&quarry Sts LLC
Entity
Mailing address
4217 LAKEWAY BLVD, LAKEWAY, TX 78734-5020
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2022
$11,500,000
217 Read&quarry Sts LLC
Read St Self Storage LLC
Quit Claim Arm's Length For Ne States
$15,177,500 · Camden National Bank
Sep 23, 2011
—
Street Self Storage Read
—
Deed Of Trust
related
$400,000 · Gorham Savings Bank
Apr 30, 2010
—
Street Self Storage Read
—
Deed Of Trust
related
$500,000 · Gorham Savings Bank
Sep 23, 2009
—
Read St Self Storage LLC
—
Deed Of Trust
related
$758,000 · Gorham Savings Bank
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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