671-675 Forest Avenue, Portland, ME 04103
Mixed-use property with one street-level retail unit and eight second-floor residential units, plus a finished basement with loading dock.
- Added:
- Jan 19, 2026
- Days on Market:
- 153
- Last Refresh:
- Jun 21 at 2:38 am
Property Features for 671-675 Forest Avenue
General Information
- Standard status
- Active
- Size
- 7,446 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1910
Listing agent Sarem Al-Shawk (603) 433-3350
Listing office Maine Real Estate Co
Listing date Jan 19, 2026
Source Greatislandrealty
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 Maine Real Estate Co
HighLights
- Mixed‑use building built in 1910 with 9 total units: 1 retail unit and 8 residential units
- One street‑level retail unit plus eight second‑floor residential units with 1 to 3 bedrooms
- Finished basement provides additional space for storage or potential expansion, with a loading dock
- Located at the intersection of Forest Ave, Woodford St, and Ocean Ave
Overview
The building is positioned at the intersection of Forest Avenue, Woodford Street, and Ocean Avenue in Portland, Maine. The public remarks also indicate that the location provides accessibility via major thoroughfares and public transportation.
For tenants and owners, the configuration offers a built-in live-work style mix, combining retail presence at street level with multiple residential units above. This structure may suit buyers looking for a property that supports day-to-day rental income across both commercial and residential components, while also providing additional finished basement space with loading dock functionality.
Local Financial Insights For Apartment 5plus
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 | $236.8k | $31.80 |
| − Vacancy | −$14.2k | −$1.91 |
| EGI | $222.6k | $29.89 |
| − OpEx | −$100.2k | −$13.45 |
| NOI | $122.4k | $16.44 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Cumberland
- State
- Maine
- Longitude
- -70.284176
- Latitude
- 43.6711641