Freestanding Office
For Sale
$1,095,000
7 Forest Avenue, Portland, ME 04101
Commercial Sale, Portland, ME
Property Size5,102 SF
Lot Size0.04 Acres
Price / SF$214.62
Days on Market49
Property Features for 7 Forest Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
B3C
Rooms
Basement
Parking features
Offsite
Basement
Full
Accessibility
Accessible Approach with Ramp
Lot features
Rail Available, Public Transport Access, Near Turnpike/ Interstate, Downtown, Business District, Bus Line, Historic District, Near Shopping
Standard status
Active
Size
5,102 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
10233
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1900
Number of units
10
Flooring type
Composition, Laminate, Vinyl, Carpet, Tile, Wood
Building materials
Masonry, Brick
Roof type
Flat, Membrane
Listing Agency:
Spectrum Real Estate
(207) 805-3707
Listed By:
Anthony Donovan
(207) 329-6732
Added: Aug 19
Changed: Sep 14
Last Checked: Oct 6 at 12:06PM
MLS# 1606165
Copyright © 2026 Maine Listings. 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 freestanding office property at 7 Forest Avenue provides 5,102 square feet in a masonry and brick building constructed in 1900. Interior finishes include tile, wood, vinyl, carpet, laminate, and composition flooring, while natural-gas forced-air heating, zoned heat, and central air support year-round occupancy. The building also includes a full basement and an accessible approach with ramp.
Located in downtown Portland, the property offers proximity to local amenities, transportation, and the surrounding business community. Parking is available nearby. B3C zoning allows residential use, and the seller will provide renovation plans for a residential conversion. Public water and public sewer serve the property, which occupies 0.04 acres and features a flat membrane roof.
Located in downtown Portland, the property offers proximity to local amenities, transportation, and the surrounding business community. Parking is available nearby. B3C zoning allows residential use, and the seller will provide renovation plans for a residential conversion. Public water and public sewer serve the property, which occupies 0.04 acres and features a flat membrane roof.
Key Highlights
- 5,102‑square‑foot office property on 0.04 acres
- Freestanding masonry and brick building constructed in 1900
- B3C zoning allows residential use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,041
Cap Rate
6.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,460,820
$1.5M
Cap Rate 7%
$1,043,443
$1.0M
Cap Rate 9%
$811,567
$811.6K
Market Conditions
NOI Build-Up for 5,102 SF
Gross rent
$111.4K $21.84/SF
− Vacancy
−$14.0K −$2.75/SF
EGI
$97.4K $19.09/SF
− OpEx
−$24.3K −$4.77/SF
NOI
$73.0K $14.32/SF
Area
Cumberland County, ME
Vacancy
12.60%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,460,820
Cap Rate 7%
$1,043,443
Cap Rate 9%
$811,567
Alternative Uses
Best Use
Office B
$1.04M
$913.0K – $1.22M
NOI $73,041 @ 7.0% cap · market cap 6.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,160 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,135
Businesses Nearby
Explore this area
Business Placement
Demographics for 04101, ME
18,109
Population
11,510
Households
1.6
Avg Household Size
36
Median Age
57%
College-Educated
93%
High-School Grad
2.0 sq mi
ZIP Area
9,055
Density / Sq Mi
$60,726
Median Household Income
$45,009
Median Earnings
$1,457
Median Rent
$600,600
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Standalone downtown property with divisible space, residential-use zoning, and nearby parking.
Where is this office building located?
The property is located at 7 Forest Avenue Portland, ME.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: 5,102‑square‑foot office property on 0.04 acres; Freestanding masonry and brick building constructed in 1900; B3C zoning allows residential use
