Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    777 Forest Avenue Portland, ME 04103

    View on Map
    Claim this Listing
    For Sale
    $895,000

    MULTI_FAMILY - Colonial - Portland, ME

    Property size:
    3,948 SF
    Lot size:
    0.14 Acres
    Added:
    Apr 2, 2026
    Days on Market:
    16
    Last Refresh:
    Apr 17 at 6:06 pm

    Property Features for 777 Forest Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    B2
    Bathrooms
    1
    Rooms
    Basement, Bathroom 1
    Basement
    Unfinished
    Standard status
    Active
    Size
    3,948 SF
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    7910

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Heat Pump (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1930
    Number of units
    1
    Building materials
    Vinyl Siding, Wood Frame
    Roof type
    Shingle
    Architectural style
    Colonial

    We can help!

    Listing Contact
    Hoang Nguyen

    Listing agent Hoang Nguyen

    Listing office F.O. Bailey Real Estate 183 US Route 1, Falmouth, ME

    Listing date Apr 2, 2026

    MLS# 1656222 Listing URL

    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.

    Overview

    Mixed-Use Property in Prime Location

    This mixed-use property is located in a highly visible area of Forest Ave in Portland, ME, and offers both residential and commercial income potential. The property features a ground-level retail space with an established tenant. Additionally, there is a spacious, renovated two-level 5-bedroom residential unit. The residential unit offers strong rental potential. The property's appeal is enhanced by off-street parking and a flexible layout. The building is equipped with natural gas heating, an updated hot water heater, and a commercial-grade fire alarm and sprinkler system. The property, situated on a 0.14-acre lot, is suitable for rental income, a live/work setup, or long-term investment. The property has 3,948 square feet of space and is zoned B2. Also listed as Commercial MLS #1655962.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Thea Barber Shop The Little Nail Cove Nail Salon

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.286003
    Latitude
    43.674713

    Nearby Similar for Sale

    • $849,000
      3,459 SF

      Craftsman Inspired Portland Multi-Family

      Two-unit property with development potential in the heart of Portland.
      499 Brighton Avenue, Portland, ME 04102
      View Details
    • $369,000
      924 SF

      Retail Condo in Old Port

      Retail condominium unit in Portland's historic Old Port.
      3 Gold Street, Portland, ME 04101
      View Details
    • $1,190,000
      5,102 SF

      Downtown Portland Freestanding Office Building

      5,000 SF office building in the heart of Portland.
      7 Forest Avenue, Portland, ME 04101
      View Details
    • $1,595,000
      3,842 SF

      West End Bed & Breakfast

      Turn-key hospitality asset in Portland's West End.
      15 Pine Street, Portland, ME 04102
      View Details
    • $749,900
      3,568 SF

      Portland West End Triplex

      Historic triplex in Portland's West End with urban convenience.
      3 Crescent Street, Portland, ME 04102
      View Details
    • $625,000
      2,910 SF

      Portland Retail Opportunity For Sale

      Retail property in Portland, Maine, available for purchase.
      1435 Forest Avenue, Portland, ME 04103
      View Details
    • $875,000
      3,154 SF

      Victorian Duplex in Portland, Maine

      Well-maintained duplex with income potential in a vibrant neighborhood.
      44 Hersey Street, Portland, ME 04103
      View Details
    • $699,000
      2,122 SF

      Portland Two-Unit Colonial on Corner Lot

      Well-maintained two-unit property with income potential in a convenient location.
      22 Bailey Avenue, Portland, ME 04103
      View Details
    • $650,000
      2,612 SF

      Portland Duplex with Attic Potential

      Investment opportunity: spacious units, attic potential, convenient location.
      605 Washington Avenue, Portland, ME 04103
      View Details
    • $579,900
      3,250 SF

      Victorian Three-Family Home, Portland, ME

      Turn-of-the-century three-family home near Downtown Portland.
      25 Pleasant Avenue, Portland, ME 04103
      View Details
    • $995,000
      1,977 SF

      Arts District Triplex with Parking

      Portland Arts District triplex with flexible income and parking.
      46 Avon Street, Portland, ME 04101
      View Details
    • $895,000
      3,948 SF

      Portland Mixed-Use Income Property

      High-visibility mixed-use property with retail and residential units.
      777 Forest Avenue, Portland, ME 04103
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with retail space and renovated residential unit.
    Where is this mixed-use property located?
    The property is located at 777 Forest Avenue Portland, ME.
    What is the asking price?
    The asking price for this property is $895,000.
    What are key features of this property?
    This property features: Mixed‑use property with both residential and commercial income potential.; Prime Forest Ave location with high visibility.; Spacious, renovated two‑level 5‑bedroom residential unit.
    (207) 450-8124
    We can help!
    Listing Contact
    Hoang Nguyen
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!