Portland Commercial Land For
1871 Forest Ave Portland, ME
1871 Forest Ave, Portland, ME, 00000
Contact for pricing
For Sale
Contact for pricing
3.42 AC of real estate conveniently located in Portland.
Property Size8,771 SF
Lot Size3.43 Acres
Price / SF$199.52
Days on Market637
Property Features for 1871 Forest Ave
General Information
- Standard status
- Active
- Size
- 8,771 SF
- Lot size
- 3.43 Acres
- Property subtype
- RETAIL
Listing Agency
The Boulos Company
(207) 553-1732
Listed by
Claire Richardson
(207) 553-1732
Source
Moodyscre
Added: Oct 21, 2024 Checked: Jul 19 at 5:02 am
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 The Boulos Company
Investment Insights
Based on property information with market context.
This property features 3.42 acres of real estate in a convenient Portland location. Zoned B2, the site is suited for high-density residential redevelopment. It includes two existing entrances off Forest Avenue and is located directly on a bus route. The property includes an existing restaurant space of 8,771 square feet with approximately 52 parking spaces.
Key Highlights
- High‑density residential redevelopment potential due to B2 zoning.
- Large 3.42± AC lot in Portland.
- Existing 8,771± SF restaurant space.
Local Financial Insights For Specialty Retail
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 | $157.9k | $18.00 |
| − Vacancy | −$26.8k | −$3.06 |
| EGI | $131.0k | $14.94 |
| − OpEx | −$32.8k | −$3.74 |
| NOI | $98.3k | $11.21 |
8,771 SF · lease $18.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.40M
$1.23M – $1.64M
NOI $98,279 @ 7.0% cap · market cap 5.62%
Second Best
Retail
$1.31M
$1.15M – $1.53M
NOI $91,727 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,750 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Commercial land
Similar For Sale Nearby
Similar Off Market Nearby
- Fire and Company — 1706 Forest Ave, Portland, ME 04103
FAQs
What type of property is this?
Restaurant - 3.42 AC of real estate conveniently located in Portland.
Where is this restaurant located?
The property is located at 1871 Forest Ave Portland, ME.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: High‑density residential redevelopment potential due to B2 zoning.; Large 3.42± AC lot in Portland.; Existing 8,771± SF restaurant space.
