225 Waterman Dr South Portland, ME 04106-3634
Property profile & analytics
225 Waterman Dr South Portland, ME 04106-3634
- Retail properties & Spaces
- 4,040 SF
- 0.33 lot acres
Property ID
US42-0446791
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.
Location Intelligence
Current Use by Public Records
- Retail properties & Spaces
Property Details for 225 Waterman Dr
- Year built
- 1986
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.33 lot acres
- Property size
- 4,040 SF
- Property type
- Retail properties & Spaces
- APN
- SPOR M:018 L:009-B
- APU
- SPORM018L009B
Description
This exceptional Class A retail investment opportunity, located at 225 Waterman Drive in South Portland, Maine, presents a compelling chance to acquire a fully leased, multi-tenanted property. The 4,040 square foot building, constructed in 1986 and extensively renovated in 2019, sits on a 0.33-acre lot and boasts a prominent corner location at the intersection of Waterman Drive and the Casco Bay Bridge, enjoying high visibility to an estimated 15,466 vehicles daily. The property features two tenants, both currently operating under 5-year leases with multiple 5-year renewal options, ensuring consistent income. The tenant mix includes a pharmacy/drug store and an office. The ample 20-space parking lot, recently paved, provides convenient access for customers and employees. The property is zoned MCC and includes a dedicated curb cut, further enhancing its accessibility and appeal. This investment offers a strong return with a current occupancy rate of 100%, a price per square foot of $321.78, and an asking price of $1,300,000. The property's strategic location offers easy access via I-295 and the Casco Bay Bridge, making it an attractive destination for both tenants and customers. The single-story building is well-maintained and presents a solid investment opportunity with a stable income stream and significant upside potential. The APN is Map 18, Block 9.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,090,000
- ML approach
- $1,120,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,098,000
Market price range: $475k - $1.16M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $765,000 Current use
- COMMERCIAL (GENERAL)
- $910,000 Change: +19% Conversion: Easy
- OFFICE BUILDING
- $780,000 Change: +2% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- South Portland
- County
- Cumberland
- State
- Maine
- Longitude
- -70.2565
- Latitude
- 43.635
- 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
2023
$11,766
$446,800
$385,300
$832,100
-
$0.00
$0.00
$0.00
