Building Details

Year built 1923

Listing Agency: South Portland, Maine · Better Homes and Gardens Real Estate i***@Masiello.com

Listed By: Rob Trask Show Phone

Added: Sep 18 Changed: Oct 6 Last Checked: Nov 6 at 12:06PM

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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.

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Investment Insights

Based on property information with market context.

Located at 1435 Forest Avenue in Portland, this 2,910-square-foot mixed-use building provides commercial and residential components within one property. The ground floor is configured as a store or restaurant front, while the upper level contains a three-bedroom apartment.

An additional finished area provides practical flexibility for storage or use as a break room. Built in 1923, the property offers a compact combination of commercial frontage, residential space, and supporting interior area.

Key Highlights

• 2,910‑square‑foot mixed‑use building at 1435 Forest Avenue, Portland, ME
• Ground‑floor store or restaurant front
• Three‑bedroom apartment on the upper level

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,142

Cap Rate

7.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$722,840 $722.8K

Cap Rate 7%

$516,314 $516.3K

Cap Rate 9%

$401,578 $401.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,910 SF

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 Rate 5%

$722,840

Cap Rate 7%

$516,314

Cap Rate 9%

$401,578

Alternative Uses

Best Use

Mixed Use

$516.3K

$451.8K – $602.4K (±1% cap)

NOI $36,142 @ 7.0% cap · market cap 7.16%

Second Best

Specialty Retail

$465.8K

$407.6K – $543.5K (±1% cap)

NOI $32,607 @ 7.0% cap · market cap 6.46%

Theoretical Best

Office A

$799.8K

$699.8K – $933.1K (±1% cap)

NOI $55,987 @ 7.0% cap · market cap 11.09%

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.

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 - Two-level property combines a street-facing commercial area with a three-bedroom apartment and finished ancillary space.

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 at 1435 Forest Avenue, Portland, ME; Ground‑floor store or restaurant front; Three‑bedroom apartment on the upper level