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

    489 Stevens Ave Portland, ME 04103

    • Office buildings
    • 4,468 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    Mar 05, 2021
    Value Estimations
    $295,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US42-0102490
    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

    • Office buildings

    Property Details for 489 Stevens Ave

    Year built
    1900
    Lot size
    0.17 lot acres
    Property size
    4,468 SF
    Property type
    Office buildings
    APN
    PTLD M:135 B:C021001
    APU
    PTLDM135BC021001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $305,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $280,000
      Market price range: $191k - $507k

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.2946
    Latitude
    43.6753
    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
    $6,248
    $210,700
    $222,900
    $433,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $400,000
      3,224 SF

      1339 Washington Ave

      OFFICE BUILDING • 3,224 SF
      1339 Washington Ave, Portland, ME 04103
      View Details
    • Value Estimation
      $345,000
      8,921 SF

      400 Presumpscot St

      OFFICE BUILDING • 8,921 SF
      400 Presumpscot St, Portland, ME 04103-5219
      View Details
    • Value Estimation
      $3,905,000
      3,459 SF

      512 Woodford St

      OFFICE BUILDING • 3,459 SF
      512 Woodford St, Portland, ME 04103-2461
      View Details
    • Value Estimation
      $2,050,000
      10,038 SF

      117 Auburn St

      OFFICE BUILDING • 10,038 SF
      117 Auburn St, Portland, ME 04103-6003
      View Details
    • Value Estimation
      $585,000
      4,848 SF

      12 Revere St

      OFFICE BUILDING • 4,848 SF
      12 Revere St, Portland, ME 04103-4410
      View Details
    • Value Estimation
      $380,000
      9,284 SF

      232 Riverside Industrial Pkwy

      OFFICE BUILDING • 9,284 SF
      232 Riverside Industrial Pkwy, Portland, ME 04103-1414
      View Details

    Similar Nearby for Sale

    • $1,550,000
      8,016 SF

      Functional Office Building For Sale

      Well-maintained 8,016 SF office building suitable for various uses.
      481 Riverside Industrial Pkwy, Portland, ME 04103
      View Details
    • $1,150,000
      3,360 SF

      Two-Story Office Building For Sale

      Two-story office building with parking on busy Forest Ave.
      835 Forest Ave, Portland, ME 04103
      View Details
    • $445,000
      1,608 SF

      Professional Office Building For Sale

      Well-maintained 1,608± SF office building with signage opportunity.
      796 Forest Ave, Portland, ME 04103
      View Details
    • $3,925,000
      22,150 SF

      Fully Leased Portland Office Building

      22,150 SF office building, 100% leased, excellent location.
      56 Northport Dr, Portland, ME 04103
      View Details
    • $675,000
      2,786 SF

      Portland Office Building - Ocean Ave

      Prime Portland office space, 2,786 sq ft.
      527 Ocean Ave, Portland, ME 04103
      View Details
    • $895,000
      9,045 SF

      Portland Retail/Office Space For Sale

      Retail and office spaces available in Portland, Maine.
      550 Washington Ave, Portland, ME 04103
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      120,000 SF

      New Class A Office Building

      New construction Class A office space in Rock Row development.
      100 Quarry Rd, Portland, ME 04103
      View Details
    • $6,750,000
      83,272 SF

      Well-Positioned Office Building For Rent

      Three-story office building with I-95 frontage and expansion potential.
      5 Davis Farm Rd, Portland, ME 04103
      View Details
    • $10 SF/Yr
      31,900 SF

      Warehouse and Office Space Available

      27,500 SF warehouse and 4,400 SF office space for lease.
      250 Read St, Portland, ME 04103
      View Details
    • $1,300 /Mo
      750 SF

      Renovated Office Suite For Lease

      750± SF renovated office suite in North Deering, Portland.
      1321 Washington Ave, Portland, ME 04103
      View Details
    • $16 SF/Yr
      4,942 SF

      Portland Executive Office Space

      Prime Portland Office, 4,942 SF Available
      1087 Forest Ave, Portland, ME 04103
      View Details
    • $14 SF/Yr
      3,700 SF

      Historic Office Space For Lease

      Historic office space available for lease in former firehouse.
      19 Arbor St, Portland, ME 04103
      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.
    489 Stevens Ave
    Portland, ME 04103
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.