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    Property profile & analytics

    375 Riverside St Portland, ME 04103

    • Retail space
    • 26,285 SF
    • 2.80 lot acres
    For Sale
    View listing
    $3,795,000
    Last Sale
    Apr 14, 2023
    $3,400,000
    Value Estimations
    Cap Rate Potential
    8.3%
    Retail space
    Location Intelligence
    Property ID
    US42-0287456
    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.

    Current Use by Public Records

    • Big Moose Harley-Davidson / Motorcycle Parts Store / Motorcycle Repair Shop
    • EagleRider Motorcycle Rentals and Tours Portland Maine / Motorcycle Rental Agency
    • ChargePoint Charging Station / Electric Vehicle Charging Station

    Property Details for 375 Riverside St

    Year built
    1989
    Lot size
    2.80 lot acres
    Property size
    26,285 SF
    Property type
    Retail space
    APN
    PTLD M:317 B:B005001
    APU
    PTLDM317BB005001

    Description

    This exceptional 26,285 square foot mixed-use retail property in Portland, Maine, offers 26,305 square feet of vacant space divisible from 3,050 to 11,950 contiguous square feet. Located on 2.797 acres with ample on-site parking, it benefits from high visibility on Riverside Street, boasting approximately 300 feet of road frontage and a 2019 AADT of 18,300. Built in 1989 and renovated in 1995, the property is zoned B4 and situated just one mile from I-95 Exit 48 and the Rock Row Development, placing it near strong national and local brands including Home Depot, Chick-fil-A, and REI. The flexible layout caters to a variety of retail users, making it an attractive investment opportunity with high lease-ability potential. This prime location offers unparalleled access and visibility in a rapidly growing area of Greater Portland, presenting a unique chance to establish or expand a business within a thriving commercial environment. The property's size and location make it ideal for a variety of retail concepts, offering significant potential for growth and return on investment. The ample parking ensures convenient access for customers and employees. The B4 zoning provides flexibility for various business types.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,300,000
      ML approach
      $3,525,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,580,000
      6.5%
      $4,230,000
      7%
      $3,925,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,316,000
      Market price range: $3.30M - $8.34M
      AI Estimate
      $2,020,000
      Market price range: $1.30M - $3.97M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $5,330,000
      Current use
      OFFICE BUILDING
      $4,820,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.3265
    Latitude
    43.6886
    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
    $46,138
    $463,100
    $2,738,700
    $3,201,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $415,000
      1,733 SF

      599 Warren Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,733 SF
      599 Warren Ave, Portland, ME 04103
      View Details
    • Value Estimation
      $510,000
      6,388 SF

      963 Washington Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,388 SF
      963 Washington Ave, Portland, ME 04103-2730
      View Details
    • Value Estimation
      $495,000
      2,136 SF

      1363 Washington Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,136 SF
      1363 Washington Ave, Portland, ME 04103-3607
      View Details
    • Value Estimation
      $530,000
      3,313 SF

      615 Warren Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,313 SF
      615 Warren Ave, Portland, ME 04103
      View Details
    • Value Estimation
      $450,000
      2,808 SF

      40 Auburn St

      RETAIL STORES (PERSONAL SERVICES) • 2,808 SF
      40 Auburn St, Portland, ME 04103
      View Details
    • Value Estimation
      $490,000
      6,476 SF

      110 Auburn St

      RETAIL STORES (PERSONAL SERVICES) • 6,476 SF
      110 Auburn St, Portland, ME 04103-2128
      View Details

    Similar Nearby for Sale

    • $625,000
      2,910 SF

      Portland Retail Opportunity For Sale

      Retail property in Portland, Maine, available for purchase.
      1435 Forest Ave, Portland, ME 04103
      View Details
    • $3,795,000
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      Portland Retail Center - Prime Location

      High-traffic retail space, flexible layouts.
      375 Riverside St, Portland, ME 04103
      View Details
    • $895,000
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      Portland Retail/Office Space For Sale

      Retail and office spaces available in Portland, Maine.
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    • $550,000
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      Retail Property in Portland, Maine

      Retail property for sale in Portland, Maine with B1 zoning.
      170 Veranda St, Portland, ME 04103
      View Details
    • New
      $1,499,000
      7,446 SF

      Mixed-Use Investment Opportunity, Portland

      Retail and residential units in a prime Portland location.
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    • $625,000
      2,910 SF

      Mixed-Use Building in Downtown Portland

      Mixed-use building with storefront and apartment in downtown Portland.
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    Similar Nearby for Lease

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    • $10 SF/Yr
      20,725 SF

      Portland Retail/Flex/Industrial Space Available

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      Retail Space in Stevens Square

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    • $16 SF/Yr
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      Riverside Street Retail Center

      Portland, ME Mixed-Use Opportunity
      375 Riverside St, Portland, ME 04103
      View Details
    • $17 SF/Yr
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      Portland Industrial/Office Gem

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      View Details
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    375 Riverside St
    Portland, ME 04103
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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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