Mixed-Use Building with
777 Forest Avenue Portland, ME 04103
For Sale
$875,000
COMMERCIAL - Portland, ME
Property Size3,948 SF
Lot Size0.14 Acres
Price / SF$221.63
Days on Market81
Property Features for 777 Forest Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- B2
- Rooms
- Basement
- Basement
- Unfinished
- Accessibility
- Accessible Approach with Ramp
- 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
- Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1930
- Flooring type
- Vinyl
- Roof type
- Shingle
Listing Agency:
F.O. Bailey Real Estate
(207) 781-1111
Listed By:
Hoang Nguyen
(207) 450-8124
Added: May 6
Changed: Jun 11
Last Checked: Jul 25 at 2:06AM
MLS# 1655962
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 well-maintained mixed-use building combines a ground-level retail space with an established tenant and a spacious, renovated two-level residential unit with five bedrooms. The property includes off-street parking for added convenience. Building systems include natural gas heating, an updated hot water heater, and a commercial-grade fire alarm and sprinkler system.
The asset is located along the high-visibility Forest Ave corridor at 777 Forest Avenue in Portland, Maine. The commercial retail component sits at street level, while the residential unit provides a separate two-level living configuration within the same building.
For an owner-occupant, the layout supports a live-work approach by pairing street-facing retail with on-site residential space. For investors, the building provides both commercial and residential income components in one package, with the residential portion already renovated and configured as a five-bedroom, two-level unit. The B2 zoning offers flexibility for mixed-use operation as described, and the building’s safety systems and updated utilities support day-to-day functionality.
The asset is located along the high-visibility Forest Ave corridor at 777 Forest Avenue in Portland, Maine. The commercial retail component sits at street level, while the residential unit provides a separate two-level living configuration within the same building.
For an owner-occupant, the layout supports a live-work approach by pairing street-facing retail with on-site residential space. For investors, the building provides both commercial and residential income components in one package, with the residential portion already renovated and configured as a five-bedroom, two-level unit. The B2 zoning offers flexibility for mixed-use operation as described, and the building’s safety systems and updated utilities support day-to-day functionality.
Key Highlights
- Mixed‑use building along the Forest Ave corridor with ground‑level retail plus a renovated two‑level 5‑bedroom residential unit
- Established retail tenant and an additional residential unit providing both commercial and residential income potential
- Equipped with natural gas heating, updated hot water heater, and central air cooling
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 | $125.5k | $31.80 |
| − Vacancy | −$7.5k | −$1.91 |
| EGI | $118.0k | $29.89 |
| − OpEx | −$53.1k | −$13.45 |
| NOI | $64.9k | $16.44 |
3,948 SF · lease $31.80/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$927.2K
$811.3K – $1.08M
NOI $64,907 @ 7.0% cap · market cap 7.42%
Second Best
Mixed Use
$700.5K
$612.9K – $817.2K
NOI $49,034 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$1.09M
$949.5K – $1.27M
NOI $75,958 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Thea
Barber Shop
The Little Nail Cove
Nail Salon
FAQs
What type of property is this?
Mixed-use property - Well-maintained mixed-use property with ground-floor retail and a renovated two-level five-bedroom residence plus off-street parking.
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 $875,000.
What are key features of this property?
This property features: Mixed‑use building along the Forest Ave corridor with ground‑level retail plus a renovated two‑level 5‑bedroom residential unit; Established retail tenant and an additional residential unit providing both commercial and residential income potential; Equipped with natural gas heating, updated hot water heater, and central air cooling
