Brick Storefront Retail
For Sale
$1,495,000
677 Forest Avenue, Portland, ME 04103
Commercial Sale, Portland, ME
Property Size4,922 SF
Lot Size0.28 Acres
Price / SF$303.74
Days on Market139
Property Features for 677 Forest Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
21 Retail Commercial
Rooms
Basement
Basement
Full, Finished
Lot features
Public Transport Access, Near Airport, Downtown, Bus Line, Historic District, Near Shopping
Standard status
Active
Size
4,922 SF
Lot size
0.28 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
8203
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1938
Building materials
Brick, Wood Siding
Roof type
Membrane
Listing Agency:
F.O. Bailey Real Estate
(207) 781-1111
Listed By:
David Jones
(207) 650-3455
Added: Jun 12
Changed: Oct 27
Last Checked: Oct 28 at 6:06AM
MLS# 1667022
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.
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Investment Insights
Based on property information with market context.
This 4,922-square-foot storefront property occupies 0.28 acres at 677 Forest Avenue in Portland, Maine. Built in 1938, the building features brick and wood siding, a membrane roof, and a basement. Public water and public sewer serve the site. The property is currently used for seafood retail, with that use identified as grandfathered under the 21 Retail Commercial zoning designation.
The site combines an established commercial building with an existing retail operation and on-site parking. The real estate offering excludes the operating business, while a separate business acquisition may be available to qualified buyers. Its Forest Avenue address provides a clear commercial setting for continued retail use or future repositioning, subject to applicable approvals.
The site combines an established commercial building with an existing retail operation and on-site parking. The real estate offering excludes the operating business, while a separate business acquisition may be available to qualified buyers. Its Forest Avenue address provides a clear commercial setting for continued retail use or future repositioning, subject to applicable approvals.
Key Highlights
- 4,922‑square‑foot storefront property on 0.28 acres
- 677 Forest Avenue, Portland, ME 04103
- 21 Retail Commercial zoning with grandfathered seafood retail use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,474
Cap Rate
3.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,029,480
$1.0M
Cap Rate 7%
$735,343
$735.3K
Cap Rate 9%
$571,933
$571.9K
Market Conditions
NOI Build-Up for 4,922 SF
Gross rent
$88.6K $18.00/SF
− Vacancy
−$15.1K −$3.06/SF
EGI
$73.5K $14.94/SF
− OpEx
−$22.1K −$4.48/SF
NOI
$51.5K $10.46/SF
Area
Cumberland County, ME
Vacancy
17.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,029,480
Cap Rate 7%
$735,343
Cap Rate 9%
$571,933
Alternative Uses
Best Use
Retail
$735.3K
$643.4K – $857.9K
NOI $51,474 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,697 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,017
Businesses Nearby
14k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 70%
Dining 18%
Beauty & Spa 12%
Artist & Craftsman Supply
Shops & Services
5,242 visits/mo
0.1 miles
Mobil
Shops & Services
4,636 visits/mo
0.4 miles
Domino's Pizza
Dining
2,563 visits/mo
0.3 miles
Sun Tan City
Beauty & Spa
1,752 visits/mo
0.1 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Backyard Blooms — 74 Ocean Ave, Portland, ME 04103
- C.M.Skerritt Designs — 47 Ocean Ave, Portland, ME 04103
Frequently Asked Questions
What type of property is this?
Storefront property - Existing seafood retail use, public utilities, and a basement support continued commercial operation.
Where is this storefront property located?
The property is located at 677 Forest Avenue Portland, ME.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 4,922‑square‑foot storefront property on 0.28 acres; 677 Forest Avenue, Portland, ME 04103; 21 Retail Commercial zoning with grandfathered seafood retail use
