New search
Property profile & analytics
FOR LEASE
Office buildings
264 Gorham Rd, South Portland, ME 04106
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US42-0374544
For Lease
1 / 4
$2,620,000
264 Gorham Rd, South Portland, ME 04106
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2019
Construction
STEEL FRAME
Total area
11,818 SF
Lot
3.03 ac (131,987 SF)
Zoning code
Z
APN
SPOR M:067 L:001-C
UPID
US42-0374544
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.78M
Comparable Approach
Comparable
$3.01M
Blend (final)
Blend
$2.62M
Owner & transaction history
Washington Baxter LLC · 4 yrs held
Washington Baxter LLC
since 2021
1 recorded transaction
Zoning & alternative use
Z · South Portland, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.6M
+17.6%
Retail stores
$2.4M
+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 South Portland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South 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%
$3,010,000
6.5%
$2,775,000
7%
$2,580,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,165,000
Current use
COMMERCIAL (GENERAL)
$2,550,000
Change: +18% · Conversion: Easy
RETAIL STORES
$2,395,000
Change: +11% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,770,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$2.62M
Range $2.36M – $2.88M · ±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
$222 / 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
$54,897
Tax year 2023
Assessed value
$3,882,400
Assessed 2023
Previous assessed
$3,882,400
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$2,126,100
Assessed improvement
$1,756,300
Applied tax rate
71,990.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
For Lease
Year built
2019
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Total area
11,818 SF
Lot
3.03 ac (131,987 SF)
Zoning code
Z
APN
SPOR M:067 L:001-C
UPID
US42-0374544
Jurisdiction
SOUTH PORTLAND
Zoning & alternative use
Z · South Portland, ME
Zoning Z · permitted uses
Z · South Portland, ME
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
South Portland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$2.6M
RETAIL STORES
Est. value
$2.4M
INDUSTRIAL (GENERAL)
Est. value
$1.8M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
2019
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Lot
3.03 ac
Current owner
From public records · entity-resolved
Washington Baxter LLC
Entity
Mailing address
700 MAIN ST, BANGOR, ME 04401-6800
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 15, 2021
—
Washington Baxter LLC
—
Deed
related
$2,265,000 · Bangor 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
