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Property profile & analytics
OFF-MARKET
Estimated value
$4,540,000
Office buildings
324 Gannett Dr South Portland, ME 04106-3270
Entity Owned
~
Est. High Equity
Property ID
US42-0492068
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2003
Construction
FRAME
Total area
26,118 SF
Lot
4.27 ac (186,001 SF)
Zoning code
TIFD
APN
SPOR M:085 L:015
UPID
US42-0492068
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
$6.14M
Comparable Approach
Comparable
$4.61M
Blend (final)
Blend
$4.54M
Owner & transaction history
17th Ave Eat LLC
17th Ave Eat LLC
since 2025
Last sale
$4.6M
2 recorded transactions
Zoning & alternative use
TIFD · South Portland, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.6M
+17.6%
Retail stores
$5.3M
+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%
$6,645,000
6.5%
$6,135,000
7%
$5,700,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,790,000
Current use
COMMERCIAL (GENERAL)
$5,630,000
Change: +18% · Conversion: Easy
RETAIL STORES
$5,295,000
Change: +11% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$3,910,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$4.54M
Range $4.09M – $4.99M · ±10% · vs last sale $4.60M (Dec 16 2025)
Last sale anchor
$4.60M
Dec 16 2025
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
$174 / 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
$60,092
Tax year 2023
Assessed value
$4,249,800
Assessed 2023
Previous assessed
$4,087,300
+4.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$780,300
Assessed improvement
$3,469,500
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
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
2003
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
4
Total area
26,118 SF
Lot
4.27 ac (186,001 SF)
Zoning code
TIFD
APN
SPOR M:085 L:015
UPID
US42-0492068
Jurisdiction
SOUTH PORTLAND
Zoning & alternative use
TIFD · South Portland, MEZoning TIFD · permitted uses
TIFD · South Portland, ME
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
$4.8M
COMMERCIAL (GENERAL)
Est. value
$5.6M
RETAIL STORES
Est. value
$5.3M
INDUSTRIAL (GENERAL)
Est. value
$3.9M
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
2003
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
4
Lot
4.27 ac
Current owner
From public records · entity-resolved
17th Ave Eat LLC
Entity
Mailing address
324 GANNETT DR, SOUTH PORTLAND, ME 04106-3270
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 2025
$4,600,000
17th Ave Eat LLC
Spectrum Realty LLC
Deed
$2,910,000 · Camden National Bank
Oct 16, 2008
—
Spectrum Realty LLC
—
Deed Of Trust
related
$3,160,000 · Td Bank NA
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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