Mixed-Use Storefront
New
For Sale
$505,000
1435 Forest Avenue, Portland, ME 04103
Portland, ME
Property Size2,910 SF
Price / SF$173.54
Days on Market5
Property Features for 1435 Forest Avenue
General Information
Property type
Residential Multi Family
Property subtype
Single Family Attached
Bathrooms
1
Half bathrooms
1
Standard status
Active
Size
2,910 SF
Amenities
storage/break room
Building Details
Year built
1923
Listing Agency:
South Portland, Maine · Better Homes and Gardens Real Estate
Listed By:
Rob Trask
(207) 560-4683
Added: Sep 18
Changed: Sep 19
Last Checked: Sep 22 at 6:06PM
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 2,910-square-foot mixed-use building, constructed in 1923, combines a ground-floor storefront with a three-bedroom apartment above. The property also includes finished supplemental space that can serve as storage or a break room.
Located at 1435 Forest Avenue in Portland, Maine, the building offers a combination of commercial and residential components within a single property. Its configuration accommodates a storefront operation alongside an upstairs residential unit.
Located at 1435 Forest Avenue in Portland, Maine, the building offers a combination of commercial and residential components within a single property. Its configuration accommodates a storefront operation alongside an upstairs residential unit.
Key Highlights
- 2,910‑square‑foot mixed‑use building
- Ground‑floor storefront
- Three‑bedroom apartment above the commercial space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,142
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.16%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$722,840
$722.8K
Cap Rate 7%
$516,314
$516.3K
Cap Rate 9%
$401,578
$401.6K
Market Conditions
NOI Build-Up for 2,910 SF
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.
Gross rent
$62.9K $21.60/SF
− Vacancy
−$5.0K −$1.73/SF
EGI
$57.8K $19.87/SF
− OpEx
−$21.7K −$7.45/SF
NOI
$36.1K $12.42/SF
Area
Cumberland County, ME
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$722,840
Cap Rate 7%
$516,314
Cap Rate 9%
$401,578
Alternative Uses
Best Use
Apartment 5plus
$683.5K
$598.0K – $797.4K
NOI $47,842 @ 7.0% cap · market cap 9.47%
Second Best
Mixed Use
$516.3K
$451.8K – $602.4K
NOI $36,142 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$799.8K
$699.8K – $933.1K
NOI $55,987 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Explore this area
Business Placement
Demographics for 04103, ME
31,185
Population
14,336
Households
2.2
Avg Household Size
40
Median Age
58%
College-Educated
97%
High-School Grad
10.2 sq mi
ZIP Area
3,057
Density / Sq Mi
$90,682
Median Household Income
$48,640
Median Earnings
$1,571
Median Rent
$421,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level property combining a commercial storefront with an upstairs apartment and additional finished support space.
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 $505,000.
What are key features of this property?
This property features: 2,910‑square‑foot mixed‑use building; Ground‑floor storefront; Three‑bedroom apartment above the commercial space
