777 Forest Avenue, Portland, ME 04103
COMMERCIAL - Portland, ME
- Added:
- May 6, 2026
- Days on Market:
- 47
- Last Refresh:
- Jun 21 at 6:06 pm
Property Features for 777 Forest Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- B2
- Rooms
- Basement
- Basement
- Unfinished
- Accessibility
- Accessible Approach with Ramp
- Standard status
- Active
- Size
- 3,948 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 7910
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1930
- Flooring type
- Vinyl
- Roof type
- Shingle
Listing agent Hoang Nguyen (207) 450-8124
Listing office F.O. Bailey Real Estate 183 US Route 1, Falmouth, ME (207) 781-1111
Listing date May 6, 2026
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.
HighLights
- Mixed‑use building along the Forest Ave corridor with ground‑level retail plus a renovated two‑level 5‑bedroom residential unit
- Established retail tenant and an additional residential unit providing both commercial and residential income potential
- Equipped with natural gas heating, updated hot water heater, and central air cooling
- Commercial‑grade fire alarm and sprinkler system
- Off‑street parking included
- Public utilities: public water and public sewer; vinyl flooring, shingle roof; built in 1930
Overview
The asset is located along the high-visibility Forest Ave corridor at 777 Forest Avenue in Portland, Maine. The commercial retail component sits at street level, while the residential unit provides a separate two-level living configuration within the same building.
For an owner-occupant, the layout supports a live-work approach by pairing street-facing retail with on-site residential space. For investors, the building provides both commercial and residential income components in one package, with the residential portion already renovated and configured as a five-bedroom, two-level unit. The B2 zoning offers flexibility for mixed-use operation as described, and the building’s safety systems and updated utilities support day-to-day 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 | $125.5k | $31.80 |
| − Vacancy | −$7.5k | −$1.91 |
| EGI | $118.0k | $29.89 |
| − OpEx | −$53.1k | −$13.45 |
| NOI | $64.9k | $16.44 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Cumberland
- State
- Maine
- Longitude
- -70.2860263
- Latitude
- 43.6747448
