Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    383 Commercial St Portland, ME 04101

    • Commercial real estate
    • 1,971 SF
    For Sale
    View listing
    $576,600
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US42-0629480
    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

    • Hobson's landing / Condominium Complex
    • ChargePoint Charging Station / Electric Vehicle Charging Station
    • Maine Dentistry / Dental Office

    Property Details for 383 Commercial St

    Year built
    2021
    Property size
    1,971 SF
    Property type
    Commercial real estate
    APN
    PTLD M:042 B:A002140
    APU
    PTLDM042BA002140

    Description

    This exceptional Class A retail property, located at 383 Commercial Street in Portland, Maine, presents a unique investment opportunity. The building boasts 1,193 square feet of vacant, immediately available storefront space, perfect for a variety of retail uses. Situated on a generous 2.49-acre lot, this property offers significant potential for expansion or redevelopment. The B5b zoning allows for a wide range of commercial applications, ensuring flexibility for future tenants or owners. The property's prime location in Portland's vibrant Old Port district guarantees high foot traffic and visibility, making it an ideal location for businesses seeking maximum exposure. The building's "A" class designation reflects its high-quality construction and modern amenities. This is a rare opportunity to acquire a substantial retail space in a highly desirable location within Cumberland County, Maine, with a 04101 zip code. The multiple tenancy option allows for diverse income streams and adaptability to changing market demands. This property is available for sale or lease, offering flexibility to suit various investment strategies. Its strategic location within the bustling Old Port area ensures a strong return on investment. Serious inquiries are encouraged to explore this exceptional commercial real estate opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.2573
    Latitude
    43.6518
    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
    $3,536
    $49,100
    $196,300
    $245,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1.29 Acres

      Technology Park Dr

      Land • 1.29 Acres
      0 Technology Park Dr, Portland, ME 04101
      View Details
    • Value Estimation by Request
      1.68 Acres

      127 Marginal Way

      COMMERCIAL (GENERAL) • 1.68 Acres
      127 Marginal Way, Portland, ME 04101-2470
      View Details
    • Value Estimation by Request
      4.51 Acres

      30 Un Wharf

      COMMERCIAL (GENERAL) • 4.51 Acres
      30 Un Wharf, Portland, ME 04101
      View Details
    • Value Estimation by Request
      0.05 Acres

      470 Fore St

      COMMERCIAL (GENERAL) • 0.05 Acres
      470 Fore St, Portland, ME 04101-4246
      View Details
    • Value Estimation by Request
      0.05 Acres

      48 Chapel St

      COMMERCIAL (GENERAL) • 0.05 Acres
      48 Chapel St, Portland, ME 04101
      View Details
    • Value Estimation by Request
      1.12 Acres

      1 City Ctr

      COMMERCIAL (GENERAL) • 1.12 Acres
      1 City Ctr, Portland, ME 04101-6420
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.29 Acres

      Portland Tech Park Land Sale

      Prime Maine commercial land, I-95 access.
      0 Technology Park Dr, Portland, ME 04101
      View Details
    • Contact for pricing
      0.79 Acres

      Portland Bayside Development Land

      Prime 0.785-acre commercial lot in Portland, ME.
      9 Somerset St, Portland, ME 04101
      View Details
    • $795,000
      0.19 Acres

      Portland Mixed-Use Development Site

      Prime East Bayside location, 1,635 sq ft, site plan approved.
      189 Anderson St, Portland, ME 04101
      View Details
    • $357,900
      1,193 SF

      Prime Old Port Retail Space

      Portland Waterfront Storefront - $357,900
      383 Commercial St, Portland, ME 04101
      View Details
    • $200,000

      Prime Portland Restaurant Space

      Restaurant space in high-traffic Portland location with solid lease.
      13-15 Exchange St, Portland, ME 04101
      View Details
    • $970,000
      2,607 SF

      Portland Peninsula Four-Unit Multifamily Building

      Four-unit building in prime Portland location with investment potential.
      34 Deering Ave, Portland, ME 04101
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      126,435 SF

      Post Office Square Office Space

      Portland, ME Class A Office Suites
      120 Exchange St, Portland, ME 04101
      View Details
    • $29 SF/Yr
      195,000 SF

      Downtown Portland Cafe Space

      Prime Portland location, 350 sq ft cafe
      100 Middle St, Portland, ME 04101
      View Details
    • $30 SF/Yr
      6,300 SF

      Prime West Bayside Retail Space

      New construction, luxury location, patio space.
      52 Hanover St, Portland, ME 04101
      View Details
    • $17 SF/Yr
      14,971 SF

      Prime Old Port Office Space

      Downtown Portland Executive Suites Available
      30 Danforth St, Portland, ME 04101
      View Details
    • $10 SF/Yr
      73,750 SF

      Portland Flex Space For Lease

      Versatile Portland space, 1,268-6,313 sq ft.
      503-509 Forest Ave, Portland, ME 04101
      View Details
    • $27 SF/Yr
      26,901 SF

      Prime Portland Office Space

      Prestigious A-Class Office Suites For Lease
      4 Canal Plz, Portland, ME 04101
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    383 Commercial St
    Portland, ME 04101
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.