Portland Office Building For
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1087 Forest Avenue, Portland, ME 04103
6,084 SqFt office building available in Portland, Maine.
Property Size6,084 SF
Price / SF$197.24
Days on Market189
Property Features for 1087 Forest Avenue
General Information
Standard status
Active
Size
6,084 SF
Class
C
Total Parking Spaces
14
Property subtype
Office
Zoning
B2
Investment Type
Owner/User
Building Details
Year Built
1982
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Porta & Co
(207) 558-0898
Listed By:
Anthony Struzziero · License #ME 920667
Source:
Crexi
Added: Feb 19
Changed: Aug 17
Last Checked: Aug 26 at 8:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Porta & Co
Investment Insights
Based on property information with market context.
This commercial property is an office building offering 6,084 square feet of space. It is located on Forest Avenue in Portland, Maine.
Key Highlights
- Office Property
- 6,084 SqFt of space
- Built in 1982
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
$87,099
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
7.26%
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%
$1,741,980
$1.7M
Cap Rate 7%
$1,244,271
$1.2M
Cap Rate 9%
$967,767
$967.8K
Market Conditions
NOI Build-Up for 6,084 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
$132.9K $21.84/SF
− Vacancy
−$16.7K −$2.75/SF
EGI
$116.1K $19.09/SF
− OpEx
−$29.0K −$4.77/SF
NOI
$87.1K $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 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%
$1,741,980
Cap Rate 7%
$1,244,271
Cap Rate 9%
$967,767
Alternative Uses
Best Use
Office B
$1.24M
$1.09M – $1.45M
NOI $87,099 @ 7.0% cap · market cap 7.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $117,053 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
775
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
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 - 6,084 SqFt office building available in Portland, Maine.
Where is this office building located?
The property is located at 1087 Forest Avenue Portland, ME.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Office Property; 6,084 SqFt of space; Built in 1982
