Mixed-Use Building with
671 Forest Avenue Portland, ME 04103
For Sale
$1,499,000
COMMERCIAL - Portland, ME
Property Size11,169 SF
Lot Size0.12 Acres
Price / SF$134.21
Days on Market16
Property Features for 671 Forest Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B2
Rooms
Basement
Parking features
Off Street, On Street
Basement
Unfinished, Walk-Out Access, Finished, Full
Standard status
Active
Size
11,169 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
15028
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Oil, Hot Water(Heating)
Water source
Public
Building Details
Year built
1910
Number of units
9
Flooring type
Carpet, Tile, Vinyl
Building materials
Masonry, Brick, Brick Veneer
Roof type
Flat
Listing Agency:
Maine Real Estate Co
(207) 292-1030
Listed By:
Sarem Al-Shawk
(207) 415-7986
Added: Jul 14
Changed: Jul 28
Last Checked: Jul 29 at 3:06AM
MLS# 1650411
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use building offers income-generating space with one street-level retail unit and eight residential units on the second floor. Residential layouts include 1 to 3 bedrooms, supporting a range of household needs within the same property.
The property is located at a busy intersection of Forest Ave, Woodford St, and Ocean Ave, providing convenient access in Portland’s established commercial corridor.
A full finished basement adds additional functional space, and the property includes a loading dock for retail operations, storage, or logistical support. The property is listed for sale and is zoned B2.
The property is located at a busy intersection of Forest Ave, Woodford St, and Ocean Ave, providing convenient access in Portland’s established commercial corridor.
A full finished basement adds additional functional space, and the property includes a loading dock for retail operations, storage, or logistical support. The property is listed for sale and is zoned B2.
Key Highlights
- 9‑unit mixed‑use building: 1 street‑level retail unit and 8 residential units
- Located at the intersection of Forest Ave, Woodford St, and Ocean Ave
- Finished basement with a loading dock, offering potential storage or retail logistics
Financial Insights For Retail
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 | $201.0k | $18.00 |
| − Vacancy | −$34.2k | −$3.06 |
| EGI | $166.9k | $14.94 |
| − OpEx | −$50.1k | −$4.48 |
| NOI | $116.8k | $10.46 |
11,169 SF · lease $18.00/SF/yr · vacancy 17.00% · expense 30.00%
Alternative Uses
Best Use
Apartment 5plus
$2.62M
$2.30M – $3.06M
NOI $183,625 @ 7.0% cap · market cap 12.25%
Second Best
Mixed Use
$1.98M
$1.73M – $2.31M
NOI $138,719 @ 7.0% cap · market cap 9.25%
Theoretical Best
Office A
$3.07M
$2.69M – $3.58M
NOI $214,887 @ 7.0% cap · market cap 14.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes one street-level retail unit and eight second-floor residential units, with a finished basement and loading dock.
Where is this mixed-use property located?
The property is located at 671 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: 9‑unit mixed‑use building: 1 street‑level retail unit and 8 residential units; Located at the intersection of Forest Ave, Woodford St, and Ocean Ave; Finished basement with a loading dock, offering potential storage or retail logistics
