Office Building with Detached
For Sale
$575,000
930 Forest Avenue, Portland, ME 04103
Dutch Colonial layout offers adaptable office configuration with off-street parking.
Property Size1,940 SF
Price / SF$296.39
Days on Market48
Property Features for 930 Forest Avenue
General Information
Standard status
Active
Size
1,940 SF
Property subtype
Commercial
Zoning
B-2b
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,455
Building Details
Building Size
1,940 SF
Year Built
1939
Construction
Dutch Colonial
Listing Agency:
Portside Real Estate Group
(207) 619-7571
Listed By:
Karen Thompson
(207) 329-6729
Source:
Hayesrealestate
Added: Sep 15
Changed: Oct 29
Last Checked: Oct 26 at 5:21PM
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 Portside Real Estate Group
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Investment Insights
Based on property information with market context.
This 1940 SF office building occupies a Dutch Colonial structure constructed in 1939, with a layout that can accommodate professional offices, medical or wellness suites, salon or studio operations, and contractor office-and-storage needs. A detached 3+ bay garage adds dedicated space for fleet vehicles, equipment, or inventory, while off-street parking supports staff and visitors.
The property is located at 930 Forest Avenue in Portland, Maine, minutes from downtown and with access to I-95. B 2b zoning and the combination of office, garage, and parking improvements support a range of business configurations within an established commercial setting.
The property is located at 930 Forest Avenue in Portland, Maine, minutes from downtown and with access to I-95. B 2b zoning and the combination of office, garage, and parking improvements support a range of business configurations within an established commercial setting.
Key Highlights
- 1940 SF office building in a Dutch Colonial structure
- Detached 3+ bay garage for vehicles, equipment, or inventory
- B 2b zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,257
Cap Rate
4.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$565,140
$565.1K
Cap Rate 7%
$403,671
$403.7K
Cap Rate 9%
$313,967
$314.0K
Market Conditions
NOI Build-Up for 1,940 SF
Gross rent
$52.4K $27.00/SF
− Vacancy
−$5.3K −$2.72/SF
EGI
$47.1K $24.28/SF
− OpEx
−$18.8K −$9.71/SF
NOI
$28.3K $14.57/SF
Area
Cumberland County, ME
Vacancy
10.09%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$565,140
Cap Rate 7%
$403,671
Cap Rate 9%
$313,967
Alternative Uses
Best Use
Healthcare Medical
$403.7K
$353.2K – $471.0K
NOI $28,257 @ 7.0% cap · market cap 4.91%
Second Best
Office B
$396.8K
$347.2K – $462.9K
NOI $27,773 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$533.2K
$466.6K – $622.1K
NOI $37,325 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
807
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
Frequently Asked Questions
What type of property is this?
Office building - Dutch Colonial layout offers adaptable office configuration with off-street parking.
Where is this office building located?
The property is located at 930 Forest Avenue Portland, ME.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 1940 SF office building in a Dutch Colonial structure; Detached 3+ bay garage for vehicles, equipment, or inventory; B 2b zoning
