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Property profile & analytics
FOR LEASE
Office buildings
707 Sable Oaks Dr, South Portland, ME 04106
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US42-0316815
For Lease
1 / 31
$21 SF/Yr
707 Sable Oaks Dr, South Portland, ME 04106
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Property summary
AI-generated overview
This exceptional Class A office building, located at 707 Sable Oaks Drive in South Portland, Maine (zip code 04106), offers a variety of flexible spaces ideal for businesses of all sizes. The single, four-story building boasts 66,000 square feet of total space, with suites ranging from a minimum of 2,001 square feet to a maximum contiguous space of 8,982 square feet. Multiple tenancy options are available. Situated on a 4.89-acre lot, the property features 233 parking spaces, passenger elevators, and is conveniently located near Running Hill Road. Built in 1992, this building maintains its Energy Star label since 2012, signifying cost-effective operation and an environmentally conscious design. The property is zoned CS - Suburban Commercial (APN: Map 69, Lot 9) and is part of the Greater Portland submarket. High-quality finishes are featured throughout. This is a fantastic opportunity for businesses seeking a prestigious and efficient workspace in a desirable location.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1992
Construction
CONCRETE
Total area
65,300 SF
Lot
4.89 ac (213,008 SF)
Zoning code
Z
APN
SPOR M:069 L:009
UPID
US42-0316815
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$15.34M
Comparable Approach
Comparable
$11.60M
Blend (final)
Blend
$11.30M
Owner & transaction history
Second Portland LP
Second Portland LP
1 recorded transaction
Zoning & alternative use
Z · South Portland, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$14.1M
+17.6%
Retail stores
$13.2M
+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 South Portland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$16,620,000
6.5%
$15,340,000
7%
$14,245,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$11,975,000
Current use
COMMERCIAL (GENERAL)
$14,080,000
Change: +18% · Conversion: Easy
RETAIL STORES
$13,245,000
Change: +11% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$9,780,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$11.30M
Range $10.17M – $12.43M · ±10%
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
$173 / 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
$151,251
Tax year 2023
Assessed value
$10,696,700
Assessed 2023
Previous assessed
$10,696,700
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$1,668,800
Assessed improvement
$9,027,900
Applied tax rate
71,990.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
For Lease
Year built
1992
Construction
CONCRETE
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
4
Units
1
Bathrooms
3
Total area
65,300 SF
Lot
4.89 ac (213,008 SF)
Zoning code
Z
APN
SPOR M:069 L:009
UPID
US42-0316815
Jurisdiction
SOUTH PORTLAND
Zoning & alternative use
Z · South Portland, ME
Zoning Z · permitted uses
Z · South Portland, ME
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
South Portland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$12.0M
COMMERCIAL (GENERAL)
Est. value
$14.1M
RETAIL STORES
Est. value
$13.2M
INDUSTRIAL (GENERAL)
Est. value
$9.8M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
INDUSTRIAL (GENERAL)
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
1992
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
4
Buildings
1
Units
1
Bathrooms
3
Lot
4.89 ac
Current owner
From public records · entity-resolved
Second Portland LP
Entity
Mailing address
1 CANAL PLZ, PORTLAND, ME 04101-4098
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Second Portland LP
—
Deed Of Trust
related
$6,000,000 · Miscellaneous Ins Co
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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