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    Property profile & analytics

    500 Gallery Blvd Scarborough, ME 04074-6606

    • Retail properties & Spaces
    • 226,870 SF
    • 26.38 lot acres
    OFF-MARKET
    Value Estimations
    $19,520,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US42-0327470
    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

    • Walmart House Cleaning Services / Hardware & Home Improvement
    • Western Union / Bank / Credit Union
    • Walmart Home Theater Installation / Electrical Service / General Contractor
    • Walmart Tech Services / Tech Support Center / (Bike/Boat/Book/etc) Store
    • Dunkin' / Cafe & Coffee Shop

    Property Details for 500 Gallery Blvd

    Year built
    2004
    Lot size
    26.38 lot acres
    Property size
    226,870 SF
    Zone code
    22
    Property type
    Retail properties & Spaces
    APN
    SCAR M:R037 L:3308
    APU
    SCARMR037L3308

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $26,691,000
      Market price range: $26.7M - $65.1M
      AI Estimate
      $13,687,000
      Market price range: $11.4M - $33.4M

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

    Location Insight

    • Map
    • Local Demand
    City
    Scarborough
    County
    Cumberland
    State
    Maine
    Longitude
    -70.3436
    Latitude
    43.6225
    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
    $326,829
    $7,322,500
    $13,142,700
    $20,465,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $935,000
      8,190 SF

      400 Roundwood Dr

      DEPARTMENT STORE • 8,190 SF
      400 Roundwood Dr, Scarborough, ME 04074-8205
      View Details
    • Value Estimation by Request

      174 Us-1

      Office properties & Spaces
      174 Us-1, Scarborough, ME 04074
      View Details
    • Value Estimation
      $1,740,000
      19,400 SF

      618 Us Rte 1st 1

      DEPARTMENT STORE • 19,400 SF
      618 Us Rte 1st 1, Scarborough, ME 04074-9618
      View Details
    • Value Estimation
      $1,645,000
      17,753 SF

      410 Payne Rd

      DEPARTMENT STORE • 17,753 SF
      410 Payne Rd, Scarborough, ME 04074-8900
      View Details
    • Value Estimation by Request
      960 SF

      82 Spurwink Rd

      DEPARTMENT STORE • 960 SF
      82 Spurwink Rd, Scarborough, ME 04074-8643
      View Details
    • Value Estimation by Request
      3,100 SF

      123 Payne Rd

      DEPARTMENT STORE • 3,100 SF
      123 Payne Rd, Scarborough, ME 04074-9792
      View Details

    Similar Nearby for Sale

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    • $5,250,000
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      Scarborough Retail Investment

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    • $5,000,000
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      442 Us-1

      Lifestyle centers • 26,464 SF
      442 Us-1, Scarborough, ME 04074
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    • Contact for pricing

      Gateway Shoppes Pad Sites For Sale

      Scarborough, ME retail pads: sale or lease.
      100 Cabela Blvd, Scarborough, ME 04074
      View Details
    • $40,000,000
      33,812 SF

      Scarborough Gateway Shoppes Pad Sites

      Pad sites available for sale or ground lease near Cabela’s.
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      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      4,600 SF

      Scarborough Office Space For Lease

      Modern Office Suites, Prime Location
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      View Details
    • $18 SF/Yr
      9,000 SF

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      Distribution centers • 9,000 SF
      400 Roundwood Dr, Scarborough, ME 04074
      View Details
    • $16 SF/Yr
      11,616 SF

      Scarborough Office Space For Lease

      11,616 SF Office, Showroom, or Retail
      600 Roundwood Dr, Scarborough, ME 04074
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    • Contact for pricing
      320,000 SF

      The Downs: Medical Office Space

      Scarborough, ME: Prime Medical Office Opportunity
      175 Scarborough Downs Rd, Scarborough, ME 04074
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    • $15 SF/Yr
      22,000 SF

      Prime Flex/Warehouse Space Available

      22,000 SF Flex Space in Scarborough Downs
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    • $1.00 SF/Yr
      22,700 SF

      Prime Scarborough Office & Retail Complex

      Multi-building office/retail opportunity in Scarborough, ME.
      707 Us-1, Scarborough, ME 04074
      View Details

    Property Visit Statistics

    • Visits by month
      313.9k
    • Visitors by month
      169.2k
    • Avg Time on site
      36 min
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    500 Gallery Blvd
    Scarborough, ME 04074-6606
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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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