Mixed-Use Building with
1435 Forest Avenue Portland, ME 04103
For Sale
$625,000
MULTI_FAMILY - Portland, ME
Property Size2,910 SF
Price / SF$214.78
Days on Market231
Property Features for 1435 Forest Avenue
General Information
Property type
Residential Multi Family
Property subtype
Single Family Attached
Bathrooms
1
Standard status
Active
Size
2,910 SF
Building Details
Year built
1923
Listing Agency:
South Portland, Maine
(207) 560-4683
Listed By:
Rob Trask
(207) 560-4683
Added: Dec 10, 2025
Changed: Jul 23
Last Checked: Jul 29 at 1:06AM
MLS# 1646140
Copyright © 2026 Better Homes and Gardens-The Masiello Group. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use building is set up with a ground-floor storefront and a 3-bedroom apartment on the level above. In addition to the storefront and apartment layout, the property includes an additional finished space that can be used for storage or a break room.
The building is offered for sale in downtown Portland, Maine, with the listing noting high visibility.
For buyers looking for a live/work option or a tenant-and-residential combination, the existing configuration provides retail space at street level with the residential unit overhead, plus dedicated finished interior space for operational support uses like storage or a break room.
The building is offered for sale in downtown Portland, Maine, with the listing noting high visibility.
For buyers looking for a live/work option or a tenant-and-residential combination, the existing configuration provides retail space at street level with the residential unit overhead, plus dedicated finished interior space for operational support uses like storage or a break room.
Key Highlights
- Built in 1923
- Mixed‑use building with a ground‑floor storefront
- 3‑bedroom apartment located above the storefront
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $92.5k | $31.80 |
| − Vacancy | −$5.6k | −$1.91 |
| EGI | $87.0k | $29.89 |
| − OpEx | −$39.1k | −$13.45 |
| NOI | $47.8k | $16.44 |
2,910 SF · lease $31.80/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$683.5K
$598.0K – $797.4K
NOI $47,842 @ 7.0% cap · market cap 7.65%
Second Best
Mixed Use
$516.3K
$451.8K – $602.4K
NOI $36,142 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$799.8K
$699.8K – $933.1K
NOI $55,987 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building featuring a ground-floor storefront and a 3-bedroom apartment above.
Where is this mixed-use property located?
The property is located at 1435 Forest Avenue Portland, ME.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Built in 1923; Mixed‑use building with a ground‑floor storefront; 3‑bedroom apartment located above the storefront
