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    Mixed-Use Building with Street Retail Title is generated by Realmo AI

    671-675 Forest Avenue, Portland, ME 04103

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    For Sale
    $1,499,000

    Mixed-use property with one street-level retail unit and eight second-floor residential units, plus a finished basement with loading dock.

    Type:Multi-family
    Property size:
    7,446 SF
    Price / SF:
    $201/SF
    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

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    Listing Contact
    Sarem Al-Shawk

    Listing agent Sarem Al-Shawk

    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

    This for-sale mixed-use building includes one street-level retail unit and eight residential units located on the second floor. The residential mix is described as 1 to 3 bedroom layouts. A full, finished basement adds usable space, and the property is noted as having a loading dock to support logistics for the lower-level area and the street-level retail unit.

    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
    7,446 SF · lease $31.80/SF/yr · vacancy 6.00% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $1.75M
    $1.53M – $2.04M (±1% cap)
    NOI $122,417 @ 7.0% cap · market cap 8.17%
    Second Best
    Retail
    $1.11M
    $973.4K – $1.30M (±1% cap)
    NOI $77,870 @ 7.0% cap · market cap 5.19%
    Theoretical Best
    Office A
    $2.05M
    $1.79M – $2.39M (±1% cap)
    NOI $143,258 @ 7.0% cap · market cap 9.56%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.284176
    Latitude
    43.6711641

    FAQs

    What type of property is this?
    Apartment building - Mixed-use property with one street-level retail unit and eight second-floor residential units, plus a finished basement with loading dock.
    Where is this apartment building located?
    The property is located at 671-675 Forest Avenue Portland, ME.
    What is the asking price?
    The asking price for this property is $1,499,000.
    What are key features of this property?
    This property features: 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
    More about this property
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