Mixed-Use Building with
For Sale
$550,000
1435 Forest Avenue, Portland, ME 04103
Ground-floor retail space is paired with a three-bedroom apartment and finished support area.
Property Size2,910 SF
Price / SF$189
Days on Market173
Property Features for 1435 Forest Avenue
General Information
Standard status
Active
Size
2,910 SF
Property subtype
Mixed Use
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,529
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
(207) 281-3837
Source:
Heathershieldsmaine
Added: Apr 3
Changed: Sep 19
Last Checked: Sep 21 at 7:34AM
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
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.
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 = 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
$47,842
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
8.70%
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%
$956,840
$956.8K
Cap Rate 7%
$683,457
$683.5K
Cap Rate 9%
$531,578
$531.6K
Market Conditions
NOI Build-Up for 2,910 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
$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 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%
$956,840
Cap Rate 7%
$683,457
Cap Rate 9%
$531,578
Alternative Uses
Best Use
Apartment 5plus
$683.5K
$598.0K – $797.4K
NOI $47,842 @ 7.0% cap · market cap 8.70%
Second Best
Mixed Use
$516.3K
$451.8K – $602.4K
NOI $36,142 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$799.8K
$699.8K – $933.1K
NOI $55,987 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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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
