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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    56 Evergreen Dr Portland, ME 04103-1066

    • Manufacturing properties
    • 35,896 SF
    • 1.39 lot acres
    OFF-MARKET
    Value Estimations
    $3,210,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US42-0157263
    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

    • Immucell Corporation / Biotechnology Company
    • First Defense / Association Or Organization

    Property Details for 56 Evergreen Dr

    Year built
    1989
    Lot size
    1.39 lot acres
    Property size
    35,896 SF
    Property type
    Manufacturing properties
    APN
    PTLD M:329 B:A003001
    APU
    PTLDM329BA003001

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,830,000
      6.5%
      $3,535,000
      7%
      $3,280,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $4,995,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.3138
    Latitude
    43.7075
    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
    2024
    $69,872
    $346,700
    $4,308,300
    $4,655,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,205,000
      28,408 SF

      423 Riverside Industrial Pkwy

      MANUFACTURING (LIGHT) • 28,408 SF
      423 Riverside Industrial Pkwy, Portland, ME 04103-1485
      View Details
    • Value Estimation
      $3,770,000
      56,018 SF

      135 Walton St

      MANUFACTURING (LIGHT) • 56,018 SF
      135 Walton St, Portland, ME 04103-3491
      View Details
    • Value Estimation
      $855,000
      10,128 SF

      987 Riverside St

      MANUFACTURING (LIGHT) • 10,128 SF
      987 Riverside St, Portland, ME 04103-1070
      View Details
    • Value Estimation by Request
      3,840 SF

      900 Riverside St

      MANUFACTURING (LIGHT) • 3,840 SF
      900 Riverside St, Portland, ME 04103-1046
      View Details
    • Value Estimation
      $690,000
      8,701 SF

      1025 Ocean Ave

      MANUFACTURING (LIGHT) • 8,701 SF
      1025 Ocean Ave, Portland, ME 04103
      View Details
    • Value Estimation
      $2,385,000
      26,881 SF

      750 Warren Ave

      MANUFACTURING (LIGHT) • 26,881 SF
      750 Warren Ave, Portland, ME 04103-1008
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      24,962 SF

      Warehouse/Distribution Building Near I-295

      24,962 SF warehouse/distribution building on 1.61 acres near I-295.
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      Portland Flex Space - $2.5M

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      Portland Warehouse with Office Space

      4,610 SF building with office and warehouse space for sale.
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    • $275,000
      0.30 Acres

      Two Buildable Lots in Portland

      Two buildable lots in Portland's desirable North Deering neighborhood.
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      View Details
    • $625,000
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      Mixed-Use Building in Downtown Portland

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    Similar Nearby for Lease

    • $12 SF/Yr
      14,128 SF

      Industrial Building with Air Conditioning

      14,128 SF industrial building suitable for manufacturing and warehousing.
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      View Details
    • Contact for pricing
      17,600 SF

      91 Industrial Way: Portland Industrial Space

      Versatile Industrial Units, Portland, ME
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      View Details
    • $8 SF/Yr
      69,860 SF

      Portland Manufacturing/Warehouse Facility For Lease

      69,860± SF manufacturing/warehouse facility with rail siding and ample parking.
      40 Quarry Rd, Portland, ME 04103
      View Details
    • $15 SF/Yr
      5,400 SF

      Riverside Street Industrial Flex Space

      5,400 SF Flex Warehouse For Lease
      597 Riverside St, Portland, ME 04103
      View Details
    • $10 SF/Yr
      24,962 SF

      Portland Warehouse - 25,000 SF

      Prime Portland warehouse, ideal for distribution. Available Q3 2024.
      340 Presumpscot St, Portland, ME 04103
      View Details
    • $10 SF/Yr
      20,725 SF

      Portland Retail/Flex/Industrial Space Available

      20,725-45,567± SF retail/flex/industrial space for lease in Portland.
      75 Northport Dr, Portland, ME 04103
      View Details
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    56 Evergreen Dr
    Portland, ME 04103-1066
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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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