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    333 Clarks Pond Pkwy South Portland, ME 04106-6920
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    Property profile & analytics

    333 Clarks Pond Pkwy South Portland, ME 04106-6920

    View on Map
    • Super regional malls
    • 27,945 SF
    • 11.94 lot acres
    Off-Market
    Property ID
    US42-0318141
    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.
    Value Estimations
    $1,010,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Super regional malls

    Property Details for 333 Clarks Pond Pkwy

    Year built
    1991
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    11.94 lot acres
    Property size
    27,945 SF
    Zone code
    Z
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    SPOR M:066 L:012
    APU
    SPORM066L012

    Description

    This exceptional 1,658 square foot retail space is situated within the vibrant Clarks Pond Shopping Center at 333 Clarks Pond Pkwy, South Portland, ME 04106. Located in a high-traffic area, easily accessible from I-95 and I-295, this property benefits from its proximity to the Maine Mall and other major retail destinations. The single-story building, constructed in 1991 and extensively renovated in 2017, offers a modern and attractive retail environment. The space is immediately available and boasts excellent visibility thanks to its location within a shopping center anchored by Home Depot and featuring a diverse mix of established local and national tenants, including Plato's Closet, Urban Air, Maine Warrior Gym, The Axe Pit, Port City Nutrition, CoCo Cheveux, and Taj Indian Cuisine. The property is zoned CCR and has a Cumberland County APN of 05220_66-12C. The total building size is 62,068 square feet, with a minimum divisible space of 1,658 square feet and a maximum contiguous space of 1,658 square feet. This presents a unique opportunity for businesses seeking a well-established, high-visibility location in a thriving South Portland retail hub. The property's convenient access and strong tenant mix make it an ideal investment for a variety of retail uses. This space is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $890,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,132,000
      Market price range: $459k - $1.13M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $770,000
      Current use
      INDUSTRIAL (GENERAL)
      $1,445,000
      Change: +88% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    South Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.3282
    Latitude
    43.6331
    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
    $71,205
    $3,572,300
    $1,463,400
    $5,035,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,535,000
      188,361 SF

      290 Maine Mall Rd

      REGIONAL SHOPPING CENTER, MALL • 188,361 SF
      290 Maine Mall Rd, South Portland, ME 04106
      View Details
    • Value Estimation
      $1,040,000
      53,080 SF

      385 Gorham Rd

      REGIONAL SHOPPING CENTER, MALL • 53,080 SF
      385 Gorham Rd, South Portland, ME 04106-2306
      View Details
    • Value Estimation
      $13,400,000
      87,792 SF

      400 Maine Mall Rd

      REGIONAL SHOPPING CENTER, MALL • 87,792 SF
      400 Maine Mall Rd, South Portland, ME 04106
      View Details
    • Value Estimation
      $16,695,000
      88,032 SF

      220 Maine Mall Rd

      REGIONAL SHOPPING CENTER, MALL • 88,032 SF
      220 Maine Mall Rd, South Portland, ME 04106-2313
      View Details
    • Value Estimation
      $545,000
      5,682 SF

      25 Market St

      FINANCIAL BUILDING • 5,682 SF
      25 Market St, South Portland, ME 04106-3617
      View Details
    • Value Estimation
      $1,080,000
      19,926 SF

      50 Postal Service Way

      AUTO REPAIR, GARAGE • 19,926 SF
      50 Postal Service Way, South Portland, ME 04106-3376
      View Details

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    • $259,000
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      Residential land in a desirable South Portland location.
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      4,530 SF

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    Similar Nearby for Lease

    • Contact for pricing
      12,808 SF

      Retail Space in Cornerbrook Plaza

      High-performing retail center with flexible space and excellent accessibility.
      343 Gorham Rd, South Portland, ME 04106
      View Details
    • $28 SF/Yr
      5,000 SF

      Retail Space Near Maine Mall

      Retail space for lease near Maine Mall in South Portland.
      430 Gorham Rd, South Portland, ME 04106
      View Details
    • Contact for pricing
      1,700 SF

      Retail/Office Space For Lease

      Retail/office space in high-traffic South Portland location.
      209 Western Ave, South Portland, ME 04106
      View Details
    • Contact for pricing
      1,054 SF

      Retail Space Near Maine Mall

      Retail space with high visibility and ample parking available for lease.
      29 Western Ave, South Portland, ME 04106
      View Details
    • Contact for pricing

      Freestanding Restaurant/Retail Building in Maine

      6,250 SF restaurant/retail building in Maine Mall trade area.
      465 Maine Mall Rd, South Portland, ME 04106
      View Details
    • Contact for pricing

      Retail/Office Space Near Maine Mall

      1,700± SF retail/office space with convenient highway access.
      209 Western Ave, South Portland, ME 04106
      View Details
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    333 Clarks Pond Pkwy
    South Portland, ME 04106-6920
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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