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Mixed-Use Investment Opportunity

671-675 Forest Avenue, Portland, ME 04103

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For Sale

$1,499,000

MULTI_FAMILY - Portland, ME

Property size:

7,446 SF

Lot size:

0.12 Acres

Price / SF:

$201/SF

HighLights

Prime Portland location at the intersection of Forest Ave, Woodford St, and Ocean Ave.
Mixed‑use property with 1 retail unit and 8 residential units.
High traffic and accessibility via major thoroughfares and public transportation.
Potential for steady rental income stream from diverse unit types.
Full finished basement with loading dock, offering expansion or storage possibilities.
Mix of 1 to 3 bedroom residential units.

We can help!

Listing Contact

Sarem Al-Shawk

For Sale

$1,499,000

MULTI_FAMILY - Portland, ME

Property size:

7,446 SF

Lot size:

0.12 Acres

Price / SF:

$201/SF

Added:: Mar 19, 2026
Days on Market:: 87
Last Refresh:: Jun 13 at 11:06 pm

Property Features for 671-675 Forest Avenue

General Information

Property type: Residential Multi Family
Property subtype: Other
Zoning: B2B
Bathrooms: 8
Rooms: Bathroom 1, Basement, Bathroom 5, Bathroom 8, Bathroom 6, Bathroom 2, Bathroom 4, Bathroom 3, Bathroom 7
Parking features: On Street, Off Street
Basement: Unfinished, Walk-Out Access, Full, Finished
Standard status: Active
Size: 7,446 SF
Lot size: 0.12 Acres

Taxes and HOA fees

Tax Year: 2026
Tax Annual Amount: 15028

Utilities

Sewer type: Public Sewer
Heating system: Hot Water(Heating), Baseboard, Oil
Water source: Public

Building Details

Year built: 1910
Floors in Building: 2
Number of units: 9
Flooring type: Vinyl, Carpet, Tile
Building materials: Masonry, Brick, Brick Veneer
Roof type: Flat

We can help!

Listing Contact

Sarem Al-Shawk

Listing agent Sarem Al-Shawk

Listing office Maine Real Estate Co 685 US Route 1, Scarborough, ME

Listing date Mar 19, 2026

MLS# 1650249 Listing URL

HighLights

Prime Portland location at the intersection of Forest Ave, Woodford St, and Ocean Ave.
Mixed‑use property with 1 retail unit and 8 residential units.
High traffic and accessibility via major thoroughfares and public transportation.
Potential for steady rental income stream from diverse unit types.
Full finished basement with loading dock, offering expansion or storage possibilities.
Mix of 1 to 3 bedroom residential units.

Overview

Located at the intersection of Forest Ave, Woodford St, and Ocean Ave, this property features one retail and eight residential units, totaling nine units. The street-level retail unit is suitable for businesses seeking visibility. The eight residential units on the second floor offer modern living spaces with 1 to 3 bedrooms. The property benefits from high traffic and accessibility via major thoroughfares and public transportation. Investors can capitalize on a steady rental income stream from the mix of residential and commercial spaces. The property size is 7,446 square feet on a lot of 0.12 acres. The full finished basement, equipped with a loading dock, adds versatility for potential expansion, storage, or logistical convenience for the retail unit. The zoning is B2B.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

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

Mixed Use

$1.32M

$1.16M – $1.54M (±1% cap)

NOI $92,479 @ 7.0% cap · market cap 6.17%

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.

Property Profile Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Location Insight

Map
Local Demand

City: Portland
County: Cumberland
State: Maine
Longitude: -70.284424
Latitude: 43.671299

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For sale
Mixed-use properties
ME
Portland
04103
671-675 Forest Avenue

What type of property is this?

Mixed-use property - Retail and residential units in a prime Portland location.

Where is this mixed-use property 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: Prime Portland location at the intersection of Forest Ave, Woodford St, and Ocean Ave.; Mixed‑use property with 1 retail unit and 8 residential units.; High traffic and accessibility via major thoroughfares and public transportation.

671-675 Forest Avenue, Portland, ME 04103

MULTI_FAMILY - Portland, ME

Property Features for 671-675 Forest Avenue

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Renovated Commercial Building in Portland

Brick Retail Building with Seafood Use

West End Bed & Breakfast

Freestanding Divisible Office Building

Turnkey 10-Unit Multifamily

Portland Mixed-Use Investment Opportunity

Renovated Two-Unit Duplex

Eastern Promenade Colonial Revival Multifamily

Quadplex Condo Conversion Opportunity

Fully Leased Munjoy Hill Investment

Seven-Unit Brick Multifamily Building

West End Triplex Opportunity

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