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 Market242
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
Listed By:
Anthony Struzziero · License #ME 920667
(207) 558-0898
Source:
Crexi
Added: Feb 19
Changed: Oct 4
Last Checked: Oct 19 at 6:44AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$87,099
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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
