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

    65 Wallace Ave South Portland, ME 04106-6143

    • Showrooms
    • 9,180 SF
    • 1.38 lot acres
    OFF-MARKET
    Last Sale
    Mar 23, 2023
    $725,000
    Value Estimations
    $735,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US42-0437194
    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

    • Showrooms

    Property Details for 65 Wallace Ave

    Year built
    1978
    Construction
    STEEL FRAME
    Lot size
    1.38 lot acres
    Property size
    9,180 SF
    Property type
    Showrooms
    APN
    SPOR M:079-A L:011
    APU
    SPORM079AL011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $705,000
      ML approach
      $790,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $978,000
      Market price range: $979k - $2.73M

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

    Location Insight

    • Map
    • Local Demand
    City
    South Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.306
    Latitude
    43.6151
    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
    $7,093
    $217,800
    $283,800
    $501,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,016 SF

      45 Huntress Ave

      SHOW ROOM, WAREHOUSE • 2,016 SF
      45 Huntress Ave, South Portland, ME 04106-4115
      View Details
    • Value Estimation by Request
      3,900 SF

      197 Lincoln St

      SHOW ROOM, WAREHOUSE • 3,900 SF
      197 Lincoln St, South Portland, ME 04106-3523
      View Details
    • Value Estimation by Request
      2,684 SF

      556 Main St

      SHOW ROOM, WAREHOUSE • 2,684 SF
      556 Main St, South Portland, ME 04106-5407
      View Details
    • Value Estimation
      $7,965,000
      90,021 SF

      193 Western Ave

      SHOW ROOM, WAREHOUSE • 90,021 SF
      193 Western Ave, South Portland, ME 04106-2415
      View Details
    • Value Estimation
      $2,270,000
      25,199 SF

      650 Main St

      SHOW ROOM, WAREHOUSE • 25,199 SF
      650 Main St, South Portland, ME 04106-5448
      View Details
    • Value Estimation
      $590,000
      6,000 SF

      31 Bowdoin Ave

      SHOW ROOM, WAREHOUSE • 6,000 SF
      31 Bowdoin Ave, South Portland, ME 04106-5604
      View Details

    Similar Nearby for Sale

    • New
      $2,850,000
      2.90 Acres

      Redevelopment Opportunity at Cash Corner

      High-traffic location with redevelopment potential or lease extension option.
      279 Main St, South Portland, ME 04106
      View Details
    • $4,650,000
      20,700 SF

      Retail Building Near Maine Mall

      20,700 SF retail building on 2 acres for sale.
      130 Western Ave, South Portland, ME 04106
      View Details
    • New
      $389,000
      1,628 SF

      Updated Commercial Condo Near Interstates

      Commercial condo with updates, contractor bay, and office space.
      2108 Broadway, South Portland, ME 04106
      View Details
    • Contact for pricing
      14,358 SF

      Historic Landmark in Downtown Portland

      Fully restored 14,358 sq ft historic building for sale.
      15 Chestnut St, Portland, ME 04106
      View Details
    • $699,000
      2,096 SF

      South Portland Triplex with Garage

      Gutted three-unit building in Ferry Village near Willard Beach.
      73 High Street Ct, Portland, ME 04106
      View Details
    • New
      $259,000
      0.17 Acres

      Buildable Lot in South Portland

      Residential land in a desirable South Portland location.
      107 Marcelle Ave, South Portland, ME 04106
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      1,700 SF

      Retail/Office Space For Lease

      Retail/office space in high-traffic South Portland location.
      209 Western Ave, South Portland, ME 04106
      View Details
    • $18 SF/Yr
      3,500 SF

      Retail Space in South Portland

      Retail space available in South Portland's premier shopping center.
      333 Clarks Pond Pkwy, South Portland, ME 04106
      View Details
    • $13 SF/Yr
      12,694 SF

      Retail Space with Main Street Frontage

      Retail property for rent with high visibility and large yard.
      172 Main St, South Portland, ME 04106
      View Details
    • $19 SF/Yr
      1,936 SF

      Freestanding Retail Space For Rent

      Freestanding retail space with high traffic and signage potential.
      684 Main St, South Portland, ME 04106
      View Details
    • $13 SF/Yr
      12,808 SF

      Retail Space in Cornerbrook Plaza

      High-performing retail center with flexible space and excellent accessibility.
      343 Gorham Rd, South Portland, ME 04106
      View Details
    • Contact for pricing
      11,890 SF

      South Portland Retail/Office Opportunity

      Modern, adaptable space in high-traffic Maine Mall area.
      264 Gorham Rd, South Portland, ME 04106
      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.
    65 Wallace Ave
    South Portland, ME 04106-6143
    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.