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    424 Forest Portland, ME 04101

    For Lease
    $13 SF/Yr ($12,460 /Mo)

    Historic building, 3,050 SF available.

    Lot size:
    10,875 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional 10,875 square foot traditional office building, located at 424 Fore Street in Portland, Maine's vibrant Old Port district, presents a unique opportunity. Built in 1900, this three-story building offers a blend of historic charm and modern functionality. Currently, 3,050 square feet of contiguous office space is immediately available, representing a significant portion of the building's total area. The minimum divisible space is also 3,050 square feet, making it ideal for a single tenant seeking a substantial presence in the heart of Portland. The building is zoned B3, providing flexibility for a variety of commercial uses. Its location in Cumberland County, with a Portland, ME 04101 zip code, ensures easy access to the city's amenities, transportation networks, and thriving business community. The building's single structure and traditional office subtype offer a classic and established feel, perfect for businesses seeking a prestigious address. This is a rare opportunity to secure a substantial and well-located office space in a highly desirable area. Inquire today to learn more about this exceptional property.

    Property Features for 424 Forest

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    10,875 SF
    Total Rate
    12460.94

    Building Details

    Year Built
    1900
    Buildings
    1
    Stories
    3

    Unit(s) available at that property

    Space
    Third Floor
    Size
    3,050 SF
    Rate per SF
    $13

    HighLights

    • 10,875 SF traditional office building in Portland, ME's Old Port district.
    • 3,050 SF of contiguous office space immediately available, minimum divisible space 3,050 SF.
    • Prime Old Port location, walkability score of 98.
    • Across the street from the Hyatt Hotel and Fore Street Garage.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Casco Bay Engineering Engineering Consultant CruiseMaine Travel Agency Cushman Mary T Family Counselor CS Boutique (Condom ... Boutique Cushman & Cushman Family Counselor

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Law Firm Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.25427361472
    Latitude
    43.656000204096

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    FAQs

    What type of property is this?
    Office Property / Space - Historic building, 3,050 SF available.
    Where is this office property / space located?
    The property is located at 424 Forest Portland, ME.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: 10,875 SF traditional office building in Portland, ME's Old Port district.; 3,050 SF of contiguous office space immediately available, minimum divisible space 3,050 SF.; Prime Old Port location, walkability score of 98.
    Request Owner's contact information
    424 Forest Portland, ME 04101
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    424 Forest Portland, ME 04101
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