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Property profile & analytics
OFF-MARKET Estimated value $3,295,000
Warehouses

340 Presumpscot St Portland, ME 04103-5235

23,656 SF 1.61 ac lot Built 2007
Entity Owned 4-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US42-0507891
Property summary
AI-generated overview

This exceptional 24,962-square-foot warehouse and distribution facility is situated on a 1.61-acre lot in Portland, Maine. Built in 2007, the property boasts a single-tenant occupancy and offers significant space for various operational needs. The building features a 20-foot ceiling height, providing ample vertical storage capacity. Loading and unloading are facilitated by five loading docks and one dock-high door. The property includes substantial office space (approximately 1,800 square feet) and a mezzanine level offering an additional 3,000 square feet of storage. A significant portion of the building (16,702 square feet) is currently vacant and available for lease. The property also includes a 3,460-square-foot freezer space, making it suitable for a range of businesses requiring temperature-controlled storage. Power is supplied by two 400-amp, 3-phase electrical panels. The property is zoned Light Industrial (IL) and is conveniently located approximately one mile from I-295, providing easy access to major transportation routes. The property is available for lease in the third quarter of 2024. This is a rare opportunity to secure a well-appointed warehouse and distribution facility in a desirable Portland location. Cumberland County location.

Property profile
Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 2007
Total area 23,656 SF
Lot 1.61 ac (70,031 SF)
APN PTLD M:422 B:B058001
UPID US42-0507891
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
  • Pack Edge Inc. Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$3.42M
CAP Approach CAP
$2.83M
Comparable Approach Comparable
by Request
Blend (final) Blend
$3.30M
Owner & transaction history
Sweetwater Partners LLC · 4 yrs held
Sweetwater Partners LLC
since 2022
Last sale
$2.9M
4 recorded transactions
2022
$2.9M
2019
Price N/A
2014
Price N/A
2013
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $3.5M +251.1%
Auto repair, garage $2.3M +126.3%
Retail stores $2.2M +126.0%
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