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

    900 Riverside St Portland, ME 04103

    • Manufacturing properties
    • 3,840 SF
    • 0.87 lot acres
    For Sale
    View listing
    $959,000
    Last Sale
    May 06, 2022
    Value Estimations
    Cap Rate Potential
    7.1%
    Manufacturing properties
    Location Intelligence
    Property ID
    US42-0425878
    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

    • Dana B Aaskov Plumbing & Heating / Heating Contractor

    Property Details for 900 Riverside St

    Year built
    1960
    Lot size
    0.87 lot acres
    Property size
    3,840 SF
    Property type
    Manufacturing properties
    APN
    PTLD M:361 B:A008001
    APU
    PTLDM361BA008001

    Description

    This exceptional 3,840 square foot office building presents a compelling investment opportunity in the vibrant city of Portland, Maine. Situated on a 0.87-acre lot at 900 Riverside Street, this property benefits from its location on a busy street with high visibility and accessibility via major public transportation routes and a nearby interstate. The building offers significant income potential through its existing rental units: an accessory unit featuring one bedroom and one bathroom, plus two additional rental units, all contributing to a steady rental income stream. Ample on-site parking further enhances the property's appeal to tenants. The building's versatile nature makes it suitable for a variety of uses, ensuring strong demand and long-term appreciation. This is an ideal investment for those seeking a combination of immediate income generation and future growth potential in a prime Portland location. Please note that a Quonset hut located on the property is not included in the sale. The asking price is $959,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $350,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $410,000
      6.5%
      $380,000
      7%
      $350,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $231,000
      Market price range: $98.5k - $288k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $575,000
      Current use
      COMMERCIAL (GENERAL)
      $535,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.3196
    Latitude
    43.7058
    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
    $8,479
    $285,800
    $279,100
    $564,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,055,000
      35,896 SF

      56 Evergreen Dr

      MANUFACTURING (LIGHT) • 35,896 SF
      56 Evergreen Dr, Portland, ME 04103-1066
      View Details
    • Value Estimation
      $720,000
      28,408 SF

      423 Riverside Industrial Pkwy

      MANUFACTURING (LIGHT) • 28,408 SF
      423 Riverside Industrial Pkwy, Portland, ME 04103-1485
      View Details
    • Value Estimation
      $765,000
      56,018 SF

      135 Walton St

      MANUFACTURING (LIGHT) • 56,018 SF
      135 Walton St, Portland, ME 04103-3491
      View Details
    • Value Estimation
      $480,000
      10,128 SF

      987 Riverside St

      MANUFACTURING (LIGHT) • 10,128 SF
      987 Riverside St, Portland, ME 04103-1070
      View Details
    • Value Estimation
      $390,000
      8,701 SF

      1025 Ocean Ave

      MANUFACTURING (LIGHT) • 8,701 SF
      1025 Ocean Ave, Portland, ME 04103
      View Details
    • Value Estimation by Request
      17,600 SF

      91 Industrial Way

      Distribution properties • 17,600 SF
      91 Industrial Way, Portland, ME 04103
      View Details

    Similar Nearby for Sale

    • $2,500,000
      16,546 SF

      Industrial/Flex Building Near Route 302

      Industrial/flex building with visibility and low vacancy rates.
      275 Read St, Portland, ME 04103
      View Details
    • $1,200,000
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      Riverside Industrial Park Warehouse

      8,100 SF industrial building with loading docks and parking.
      373 Riverside Industrial Pkwy, Portland, ME 04103
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    • $709,000
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      Portland Warehouse with Office Space

      4,610 SF building with office and warehouse space for sale.
      892 Riverside St, Portland, ME 04103
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    • $2,500,000
      16,546 SF

      Portland Flex Space - $2.5M

      Prime Portland flex space, 16,546 SF, high visibility.
      275 Read St, Portland, ME 04103
      View Details
    • $275,000
      0.30 Acres

      Two Buildable Lots in Portland

      Two buildable lots in Portland's desirable North Deering neighborhood.
      Fisher St, Portland, ME 04103
      View Details
    • $625,000
      2,910 SF

      Mixed-Use Building in Downtown Portland

      Mixed-use building with storefront and apartment in downtown Portland.
      1435 Forest Ave, Portland, ME 04103
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    Similar Nearby for Lease

    • Contact for pricing
      17,600 SF

      91 Industrial Way: Portland Industrial Space

      Versatile Industrial Units, Portland, ME
      91 Industrial Way, Portland, ME 04103
      View Details
    • $12 SF/Yr
      14,128 SF

      Industrial Building with Air Conditioning

      14,128 SF industrial building suitable for manufacturing and warehousing.
      116 Riverside Industrial Pkwy, Portland, ME 04103
      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
    • $12 SF/Yr
      3,500 SF

      Industrial Space with Roadside Visibility

      Warehouse/distribution space with easy highway access and ample parking.
      979 Riverside St, Portland, ME 04103
      View Details
    • $10 SF/Yr
      31,900 SF

      Warehouse and Office Space Available

      27,500 SF warehouse and 4,400 SF office space for lease.
      250 Read St, Portland, ME 04103
      View Details
    • $12 SF/Yr
      3,000 SF

      Portland Flex Unit For Lease

      3,000 SF flex unit in Portland industrial park.
      220 Industrial Way, Portland, ME 04103
      View Details
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    900 Riverside St
    Portland, ME 04103
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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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