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Financial
Distress signals
Property profile

244 Western Ave South Portland, ME 04106

FOR LEASE
Office buildings
Property ID
US42-0363756
12,389 SF 2.61 ac lot Built 1976
Last sale Feb 2026 · $3,320,000
Entity Owned Owner of record is a legal entity (LLC / corporation). Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

A street-addressed office building located at 244 Western Ave in South Portland, Maine, configured as a dedicated commercial structure for professional and administrative uses. The property’s location supports routine access for staff, visitors, and delivery activities associated with office operations. The listing description does not specify the unit mix, interior improvements, or floor-by-floor configuration, so the building layout and condition require verification through in-person…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?
$30k
Tax billed · 2023
Assessed value$2.11M
Assessed land$540k
Assessed improvement$1.57M
Effective rate1.41%

Value estimate

· Oct 2026
$1.80M
$1.62M – $1.98M
Submarket $/SF estimate$2.29M
NOI build-up
Gross scheduled income$333k
Vacancy & credit loss−$42k
Operating expenses−$73k
NOI · 839,696.15% cap applied$218k

Realmo valuation models over county records and 4 qualifying comparable sales.

Recently sold

What actually traded nearby?
$183/SF
Submarket average, outlier-cleaned · 42 recorded sales of this use type
Observed band · Q1–Q3$129 – $255
Qualifying comparables4

Cap rate analysis

How does the asset earn?
839,696.15%
$218k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
Z
JurisdictionSOUTH PORTLAND

Location intelligence

Which uses thrive at this corner?
Best fit: HVAC Service
Demand heat for this use is drawn on the map · LocInt grid
Demand index
HVAC Service9.3
Carpet & Flooring Store8.6
Garden Center8.5

Location

244 Western Ave South Portland, ME 04106
County assessor Recorded deeds · 5 transfers 4 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 17 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
324 Gannett, South Portland, ME 04106-3270 $4,600,000 Dec 2025 26,118 SF
160 Western, South Portland, ME 04106-2414 $3,200,000 Jan 2025 11,025 SF
373 Broadway, South Portland, ME 04106-2952 $825,000 Apr 2023 3,786 SF
75 Dartmouth, South Portland, ME 04106-6211 $675,000 Mar 2023 5,086 SF
241 Running Hl, South Portland, ME 04106-3220 $1,850,000 Sep 2022 6,257 SF
324 Cummings, South Portland, ME 04106-3262 $2,425,000 Jun 2022 15,504 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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