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Property profile & analytics
OFF-MARKET
Estimated value
$2,385,000
Office buildings
24 Preble St Portland, ME 04101-4901
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US42-0331523
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1900
Total area
19,800 SF
Lot
0.09 ac (3,999 SF)
APN
PTLD M:037 B:F007001
UPID
US42-0331523
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
-
The Greater Portland Immigrant Welcome Center Charitable Organization Social Service Agency
-
Lorenz Paul Insurance Agency
-
G Painting and Services Painting
-
Hour Exchange Portland Charitable Organization Social Service Agency
-
Spectrum's Store Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.47M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.60M
Blend (final)
Blend
$2.39M
Owner & transaction history
Preble St Acquis LLC · 4 yrs held
Preble St Acquis LLC
since 2022
Last sale
$2.2M
7 recorded transactions
Zoning & alternative use
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 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
$2,515,000
ML approach
$2,470,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,630,000
Current use
INDUSTRIAL (GENERAL)
$2,965,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$2.39M
Range $2.15M – $2.62M · ±10% · vs last sale $2.18M (Feb 11 2022)
Last sale anchor
$2.18M
Feb 11 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
$120 / 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
$30,735
Tax year 2023
Assessed value
$2,132,900
Assessed 2023
Previous assessed
$2,132,900
+0.0% YoY
Effective rate
1.44%
On assessed value
Assessed land
$214,200
Assessed improvement
$1,918,700
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
HOT WATER
Buildings
1
Units
1
Total area
19,800 SF
Lot
0.09 ac (3,999 SF)
APN
PTLD M:037 B:F007001
UPID
US42-0331523
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
$3.6M
INDUSTRIAL (GENERAL)
Est. value
$3.0M
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
1900
Heating
HOT WATER
Buildings
1
Units
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
Preble St Acquis LLC
Entity
Mailing address
24 PREBLE ST, PORTLAND, ME 04101-4901
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 11, 2022
$2,175,000
Preble St Acquis LLC
24 Preble St Prop LLC
Quit Claim Arm's Length For Ne States
$1,470,000 · Bank Rhode Island
Apr 3, 2020
—
24 Preble Street Prop LLC
—
Deed
related
$200,000 · Machias Svgs Bk
Mar 20, 2018
—
24 Preble St Props LLC
—
Deed
related
$200,000 · Machias Savings Bk
Apr 8, 2016
—
24 Preble St Prop LLC
24 Preble Street LLC
Intrafamily Transfer
related
$700,000 · Machias Savings Bk
Nov 13, 2008
—
24 Preble Street LLC
—
Deed Of Trust
related
$975,000 · Interim Capital LLC
Nov 3, 2008
—
24 Preble Street LLC
—
Deed Of Trust
related
$975,000 · Atlantic National Trust LLC
Sep 15, 2006
—
24 Preble St LLC
24 Preble St LLC
Grant Deed
related
$1,000 · Worth Funding INC
Aug 9, 2005
—
Turnkey Prop Mgmt LLC
Pennesseewasee LLC
Deed Of Trust
related
$950,000 · Gorham Savings Bank
—
—
24 Preble Street Prop LLC
—
Loan Modification
related
$200,000 · Machias Svgs Bk
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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