Mixed-Use Storefront
For Sale
$505,000
1435 Forest Avenue, Portland, ME 04103
Street-level commercial space is combined with a three-bedroom apartment and separate finished support area.
Property Size2,910 SF
Price / SF$173.54
Days on Market24
Property Features for 1435 Forest Avenue
General Information
Standard status
Active
Size
2,910 SF
Property subtype
MULTI_FAMILY
Units
Unit Mix
1 x 3BR
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
(207) 281-3837
Listed By:
James Trask
(207) 281-3837
Source:
Heathershieldsmaine
Added: Jul 14
Changed: Aug 2
Last Checked: Aug 5 at 4:22AM
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 a street-level storefront, a three-bedroom apartment on the upper floor, and an additional finished area suitable for storage or a break room. The 2,910-square-foot building dates to 1923 and combines commercial and residential components within one structure.
Located at 1435 Forest Avenue in downtown Portland, the property offers a central setting for an owner-user or investor seeking both storefront and residential space. The existing configuration provides distinct areas for business operations, apartment occupancy, and ancillary storage or staff use.
Located at 1435 Forest Avenue in downtown Portland, the property offers a central setting for an owner-user or investor seeking both storefront and residential space. The existing configuration provides distinct areas for business operations, apartment occupancy, and ancillary storage or staff use.
Key Highlights
- 2,910‑square‑foot mixed‑use building
- Street‑level storefront component
- Three‑bedroom apartment above the commercial space
Financial Insights For Mixed Use
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 | $62.9k | $21.60 |
| − Vacancy | −$5.0k | −$1.73 |
| EGI | $57.8k | $19.87 |
| − OpEx | −$21.7k | −$7.45 |
| NOI | $36.1k | $12.42 |
2,910 SF · lease $21.60/SF/yr · vacancy 8.00% · expense 37.50%
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
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 - Street-level commercial space is combined with a three-bedroom apartment and separate 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 $505,000.
What are key features of this property?
This property features: 2,910‑square‑foot mixed‑use building; Street‑level storefront component; Three‑bedroom apartment above the commercial space
