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Property profile & analytics
OFF-MARKET
Estimated value
$705,000
Office buildings
609 Frst Ave Portland, ME 04101-1515
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US42-0292546
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1909
Total area
3,926 SF
Lot
0.08 ac (3,306 SF)
APN
PTLD M:125 B:N001001
UPID
US42-0292546
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Lucas Real Estate Real Estate Agency
-
Marc Felix, Ph.D. Mental Health Service Counselor
-
Beth Eilers, LCSW Counselor Psychotherapist
-
Slate LLC Tax Preparation
-
Deborah Grant Psychotherapist Foster Care Service Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$705k
CAP Approach
CAP
$920k
Comparable Approach
Comparable
$521k
Blend (final)
Blend
$705k
Owner & transaction history
6029 Forest Ave LLC · 2 yrs held
6029 Forest Ave LLC
since 2023
Last sale
$710,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+50.8%
Retail stores
$795,000
+10.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Portland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portland submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$690,000
ML approach
$705,000
CAP Approach
CAP Return
Estimation
6%
$1,000,000
6.5%
$920,000
7%
$855,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$720,000
Current use
COMMERCIAL (GENERAL)
$1,085,000
Change: +51% · Conversion: Easy
RETAIL STORES
$795,000
Change: +11% · Conversion: Moderate
Blend value · Realmo final
$705k
Range $635k – $776k · ±10% · vs last sale $710k (Sep 7 2023)
Last sale anchor
$710k
Sep 7 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$180 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$6,166
Tax year 2023
Assessed value
$427,900
Assessed 2023
Previous assessed
$427,900
+0.0% YoY
Effective rate
1.44%
On assessed value
Assessed land
$151,400
Assessed improvement
$276,500
Applied tax rate
60,545.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1909
Heating
NONE
Buildings
1
Units
1
Total area
3,926 SF
Lot
0.08 ac (3,306 SF)
APN
PTLD M:125 B:N001001
UPID
US42-0292546
Jurisdiction
PORTLAND
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$720,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES
Est. value
$795,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1909
Heating
NONE
Buildings
1
Units
1
Lot
0.08 ac
Current owner
From public records · entity-resolved
6029 Forest Ave LLC
Entity
Mailing address
609 FRST AVE, PORTLAND, ME 04101-1515
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 7, 2023
$710,000
6029 Forest Ave LLC
Lucas Properties-me LLC
Warranty Deed
$564,000 · Maine State Credit Union
Jun 20, 2011
—
Tina A Lucas
—
Deed Of Trust
related
$130,000 · Machias Savings Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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