Office Building with
796 Forest Avenue, Portland, ME 04103
For Sale
$399,000
B2B-zoned property features a reception area, conference room, kitchen, and upstairs offices.
Property Size1,608 SF
Price / SF$248.13
Days on Market286
Property Features for 796 Forest Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Traffic Count
Road Access
Additional Details
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
reception area
conference room
kitchen
1.5 baths
3 upstairs offices
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
F.O. Bailey Real Estate
(207) 781-1111
Listed By:
Thomas Gadbois · License ME BA918504
(207) 409-8339
Source:
Integrityhomesrealestategroup
Added: Feb 2
Changed: Nov 11
Last Checked: Nov 13 at 7:27PM
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 F.O. Bailey Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,608-square-foot office building, constructed in 1930, includes a reception area, conference room, kitchen, and 1.5 bathrooms. Three offices are located upstairs, and a one-car garage provides vehicle or storage space. The property also has three off-street parking spaces and signage on the building.
Forest Avenue carries approximately 21,000 vehicles per day. The property is zoned B2B and is identified for office use.
Forest Avenue carries approximately 21,000 vehicles per day. The property is zoned B2B and is identified for office use.
Key Highlights
- 1,608 SF office building constructed in 1930
- Three upstairs offices, reception area, conference room, kitchen, and 1.5 bathrooms
- One‑car garage for vehicles or storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,020
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$460,400
$460.4K
Cap Rate 7%
$328,857
$328.9K
Cap Rate 9%
$255,778
$255.8K
Market Conditions
NOI Build-Up for 1,608 SF
Gross rent
$35.1K $21.84/SF
− Vacancy
−$4.4K −$2.75/SF
EGI
$30.7K $19.09/SF
− OpEx
−$7.7K −$4.77/SF
NOI
$23.0K $14.32/SF
Area
Cumberland County, ME
Vacancy
12.60%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$460,400
Cap Rate 7%
$328,857
Cap Rate 9%
$255,778
Alternative Uses
Best Use
Office B
$328.9K
$287.8K – $383.7K
NOI $23,020 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$442.0K
$386.7K – $515.6K
NOI $30,937 @ 7.0% cap · market cap 7.75%
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
21,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,017
Businesses Nearby
Explore this area
Business Placement
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
$421,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Office Units in Cumberland County, ME
Properties on Market for Office Units in Cumberland County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - B2B-zoned property features a reception area, conference room, kitchen, and upstairs offices.
Where is this office unit located?
The property is located at 796 Forest Avenue Portland, ME.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,608 SF office building constructed in 1930; Three upstairs offices, reception area, conference room, kitchen, and 1.5 bathrooms; One‑car garage for vehicles or storage
