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    1190 Forest Ave Portland, ME 04103

    Sponsored
    For Sale
    $2,895,000

    High-Yield Portland Property, 15,126 SF

    Property size:
    15,126 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional 15,126-square-foot mixed-use property at 1190 Forest Avenue in Portland, Maine, presents a compelling investment opportunity. The completely occupied brick building boasts a prime location at a high-traffic intersection of Forest Avenue and Bishop Street, ensuring excellent visibility and accessibility. A recent comprehensive renovation included new storefronts, windows, heating, plumbing, and electrical systems, ensuring modern functionality and efficiency. The ground floor comprises six retail spaces currently leased to five tenants, generating strong rental income. Upstairs, the building features 25 newly renovated residential rooming units, along with shared common areas. Ample parking is provided at the rear of the building, including a loading dock, and a separate 0.1825-acre parking lot with over 20 spaces is included in the sale, offering potential for future development. The property's strong financial performance makes it an ideal candidate for a 1031 exchange. Current professional management is available for a seamless transition. Situated near numerous restaurants, shops, businesses, and the University of New England, this property benefits from a vibrant and convenient location. The 0.47-acre lot provides additional value and potential. This is a rare opportunity to acquire a fully occupied, high-performing mixed-use asset in a desirable Portland location.

    Property Features for 1190 Forest Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    15,126 SF
    Lot Size
    20,473 SF

    Building Details

    Year Built
    1900
    Property Profile Location Intelligence

    Current Use by Public Records

    The Photo Kitchen Photography Studio

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.29371
    Latitude
    43.68784

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    FAQs

    What type of property is this?
    Mixed-use property - High-Yield Portland Property, 15,126 SF
    Where is this mixed-use property located?
    The property is located at 1190 Forest Ave Portland, ME.
    What is the asking price?
    The asking price for this property is $2,895,000.
    (207) 773-0262
    Request Owner's contact information
    1190 Forest Ave Portland, ME 04103
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    Portland, ME 04103
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    Realmo Value Estimation

    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.

    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.

    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
    1190 Forest Ave Portland, ME 04103
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