Two-Story Office
For Sale
$995,000
835 Forest Avenue, Portland, ME 04103
Private offices and dedicated paved parking support a flexible professional layout.
Property Size3,360 SF
Price / SF$296.13
Days on Market92
Property Features for 835 Forest Avenue
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Commercial
Building Details
Year Built
1970
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
Listed By:
Renee Roy
(207) 782-8311
Source:
Greatislandrealty
Added: Jul 7
Changed: Oct 6
Last Checked: Oct 5 at 8:26PM
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 Better Homes & Gardens Real Estate/The Masiello Group
Investment Insights
Based on property information with market context.
Located at 835 Forest Avenue, this 3,360-square-foot office building provides two floors of professional workspace. The wood-frame structure has a brick façade on the front and sides, vinyl siding at the rear, five private offices, two full bathrooms, and two half bathrooms. Built in 1970, the property is zoned B2b and includes a newer underground lawn sprinkler system.
A paved parking lot accommodates 21+ vehicles, with 24-hour street parking available on both sides of Forest Avenue. Entry is provided from the Forest Avenue frontage and from the rear parking area. The building sits directly across from 29-acre Baxter Park, which includes walking trails and an open setting near the property.
A paved parking lot accommodates 21+ vehicles, with 24-hour street parking available on both sides of Forest Avenue. Entry is provided from the Forest Avenue frontage and from the rear parking area. The building sits directly across from 29-acre Baxter Park, which includes walking trails and an open setting near the property.
Key Highlights
- 3,360‑square‑foot, two‑story office building at 835 Forest Avenue
- Five private offices, two full bathrooms, and two half bathrooms
- Paved parking lot accommodates 21+ vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,102
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$962,040
$962.0K
Cap Rate 7%
$687,171
$687.2K
Cap Rate 9%
$534,467
$534.5K
Market Conditions
NOI Build-Up for 3,360 SF
Gross rent
$73.4K $21.84/SF
− Vacancy
−$9.2K −$2.75/SF
EGI
$64.1K $19.09/SF
− OpEx
−$16.0K −$4.77/SF
NOI
$48.1K $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%
$962,040
Cap Rate 7%
$687,171
Cap Rate 9%
$534,467
Alternative Uses
Best Use
Office B
$687.2K
$601.3K – $801.7K
NOI $48,102 @ 7.0% cap · market cap 4.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$923.5K
$808.1K – $1.08M
NOI $64,645 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
865
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
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Private offices and dedicated paved parking support a flexible professional layout.
Where is this office building located?
The property is located at 835 Forest Avenue Portland, ME.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 3,360‑square‑foot, two‑story office building at 835 Forest Avenue; Five private offices, two full bathrooms, and two half bathrooms; Paved parking lot accommodates 21+ vehicles
