Mixed-Use Building with
For Sale
$505,000
1435 Forest Avenue, Portland, ME 04103
Portland, ME
Property Size2,910 SF
Price / SF$173.54
Days on Market44
Property Features for 1435 Forest Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Size
2,910 SF
Building Details
Year built
1923
Listing Agency:
South Portland, Maine · Better Homes and Gardens Real Estate
(207) 560-4683
Listed By:
Rob Trask
(207) 560-4683
Added: Jul 14
Changed: Aug 24
Last Checked: Aug 26 at 9:06PM
MLS# 1646290
Copyright © 2026 Better Homes and Gardens-The Masiello Group. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property contains 2,910 square feet in a building constructed in 1923. The ground floor is configured as storefront space, while the upper level provides a three-bedroom apartment. An additional finished area can serve as storage or a break room, adding functional support space to the building.
The property is located at 1435 Forest Avenue in Portland, Maine, within the 04103 ZIP code and Cumberland County. Its combination of commercial space, residential accommodation, and finished ancillary area creates a compact mixed-use configuration in a single building.
The property is located at 1435 Forest Avenue in Portland, Maine, within the 04103 ZIP code and Cumberland County. Its combination of commercial space, residential accommodation, and finished ancillary area creates a compact mixed-use configuration in a single building.
Key Highlights
- 2,910‑square‑foot mixed‑use building
- Ground‑floor storefront space
- Three‑bedroom apartment above the commercial area
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
$36,142
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
7.16%
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%
$722,840
$722.8K
Cap Rate 7%
$516,314
$516.3K
Cap Rate 9%
$401,578
$401.6K
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
$62.9K $21.60/SF
− Vacancy
−$5.0K −$1.73/SF
EGI
$57.8K $19.87/SF
− OpEx
−$21.7K −$7.45/SF
NOI
$36.1K $12.42/SF
Area
Cumberland County, ME
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$722,840
Cap Rate 7%
$516,314
Cap Rate 9%
$401,578
Alternative Uses
Best Use
Apartment 5plus
$683.5K
$598.0K – $797.4K
NOI $47,842 @ 7.0% cap · market cap 9.47%
Second Best
Mixed Use
$516.3K
$451.8K – $602.4K
NOI $36,142 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$799.8K
$699.8K – $933.1K
NOI $55,987 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - Two-level configuration combines ground-floor commercial space with a three-bedroom apartment and finished ancillary 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 $505,000.
What are key features of this property?
This property features: 2,910‑square‑foot mixed‑use building; Ground‑floor storefront space; Three‑bedroom apartment above the commercial area
