Building Details

Building Size 2,910 SF

Year Built 1923

Buildings 1

Listing Agency: Better Homes & Gardens Real Estate/The Masiello Group

Listed By: James Trask Show Phone

Source: Heathershieldsmaine

Added: Apr 3 Changed: Nov 5 Last Checked: Nov 4 at 8:22PM

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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 Better Homes & Gardens Real Estate/The Masiello Group

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This mixed-use property contains 2,910 square feet with a storefront on the ground level and a three-bedroom apartment above. An additional finished area provides space for storage or a break room, adding functional support space to the building’s commercial and residential configuration. Built in 1923, the property combines street-level business space with an upstairs residential component.

Located at 1435 Forest Avenue in Portland, the building is positioned in the downtown area and offers a straightforward mixed-use layout for an owner-user or investor.

Key Highlights

• 2,910‑square‑foot mixed‑use building
• Ground‑floor storefront
• Three‑bedroom apartment above the retail space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$47,842

Cap Rate

8.70%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$956,840 $956.8K

Cap Rate 7%

$683,457 $683.5K

Cap Rate 9%

$531,578 $531.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,910 SF

Gross rent

$92.5K $31.80/SF

− Vacancy

−$5.6K −$1.91/SF

EGI

$87.0K $29.89/SF

− OpEx

−$39.1K −$13.45/SF

NOI

$47.8K $16.44/SF

Area

Cumberland County, ME

Vacancy

6.00%

Lease Rate

$31.80 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$956,840

Cap Rate 7%

$683,457

Cap Rate 9%

$531,578

Alternative Uses

Best Use

Apartment 5plus

$683.5K

$598.0K – $797.4K (±1% cap)

NOI $47,842 @ 7.0% cap · market cap 8.70%

Second Best

Mixed Use

$516.3K

$451.8K – $602.4K (±1% cap)

NOI $36,142 @ 7.0% cap · market cap 6.57%

Theoretical Best

Office A

$799.8K

$699.8K – $933.1K (±1% cap)

NOI $55,987 @ 7.0% cap · market cap 10.18%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Fortune Garden Restaurant

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Grocery & Convenience Store (Bike/Boat/Book/etc) Store Food Market Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

470

Businesses Nearby

21k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 96% Shops & Services 4%

McDonald's Dining

19,926 visits/mo 0.5 miles

Hertz Shops & Services

937 visits/mo 0.5 miles

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

Average Price Trend$/SF for Mixed-use properties in Portland, ME

$213 Jul

$302 Aug

$361 Sep

$310 Oct

Properties on Market for Mixed-use properties in Portland

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Ground-floor retail space is paired with a three-bedroom apartment and finished support area.

Where is this mixed-use property located?

The property is located at 1435 Forest Avenue Portland, ME.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: 2,910‑square‑foot mixed‑use building; Ground‑floor storefront; Three‑bedroom apartment above the retail space