Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    295 Forest Ave Portland, ME 04101

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    9,751 SF Office, Portland, ME

    Lot size:
    92,122 SF

    Property Features for 295 Forest Ave

    General Information

    Property type
    Medical Office Space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    92,122 SF
    Class
    B
    Total Rate
    76384.49

    Building Details

    Year Built
    1984
    Buildings
    1
    Stories
    2

    Spaces For Lease

    at 295 Forest Ave, Portland, ME 04101 Contact us
    Unit 2nd Floor

    $9 /Mo

    Size
    9,751 SF
    Contact us

    We can help!

    Listing Contact
    Gregory W. Boulos
    Gregory W. Boulos

    Listing Agency: The Boulos Company Listing Agent: Gregory W. Boulos

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 9,751 square foot office space is situated on the second floor of the Hannaford Plaza, a Class B building constructed in 1984. Located at 295 Forest Avenue in Portland, Maine (zip code 04101), this property offers unparalleled visibility and accessibility. The building itself encompasses 92,122 square feet across two stories, and this particular space benefits from abundant natural light and expansive views. With over 28,370 cars passing daily, this location ensures high visibility for your business. The property features a private entrance with elevator access for convenient entry. Amenities include multiple private restrooms, a unique addition of a shower room, and a flexible office layout to accommodate various business needs. Ample on-site parking is available for tenants and their clients. The property is zoned B2 and its APN is Map 34A, Block C, Lot 1. This space is ideal for a variety of office uses, including traditional, executive, and medical offices. The building has one elevator and power is readily available. This is a multi-tenant building located in the Greater Portland submarket. This prime location offers a unique opportunity to establish your business in a high-traffic area with excellent amenities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Spurwink ALLTECH Physician Shauna Myles Pharmacy Sarah Hopkins Pharmacy Amy Farb Pediatrician Vokey Paula Foster Care Service

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Law Firm Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.2686179
    Latitude
    43.6634853

    Nearby Similar for Lease

    • New
      Contact for pricing

      ME, Portland - Congress

      Discover many ways to work your way in ME, Portland - Congress
      400 Congress St, Portland, ME 04101
      View Details
    • Contact for pricing

      ME, Portland - Hutchins Dr

      Discover many ways to work your way in ME, Portland - Hutchins Dr
      41 1St St, Portland, ME 04102
      View Details
    • $18 SF/Yr
      5,786 SF

      Downtown Portland Office Space Available

      Full floor office suites for lease in Portland's financial district.
      48 Free St, Portland, ME 04101
      View Details
    • New
      Contact for pricing
      3,288 SF

      Portland Flex/Service Space for Lease

      3,288± SF flex/service space in Portland's East Bayside District.
      31 Diamond St, Portland, ME 04101
      View Details
    • $21 SF/Yr
      2,500 SF

      Old Port Third Floor Office

      Full third floor office space in the Old Port.
      130 Middle St, Portland, ME 04101
      View Details
    • Contact for pricing
      2,139 SF

      Historic Restaurant Space in Old Port

      Renovated restaurant space with patio in the Old Port.
      2-10 Cotton St, Portland, ME 04101
      View Details
    • Contact for pricing
      1,000 SF

      Financial District Office Space

      Office suites available in the Financial District.
      1 Monument Way, Portland, ME 04101
      View Details
    • Contact for pricing
      11,557 SF

      Class A Office Space Downtown

      High-profile Class A office space in downtown Portland for lease.
      100 Middle St, Portland, ME 04101
      View Details
    • Contact for pricing
      45,657 SF

      Portland Retail/Flex/Industrial Space Available

      20,725-45,567± SF retail/flex/industrial space for lease in Portland.
      75 Northport Dr, Portland, ME 04103
      View Details
    • Contact for pricing
      2,722 SF

      Portland Retail/Office Space For Sale

      Retail and office spaces available in Portland, Maine.
      550 Washington Ave, Portland, ME 04103
      View Details
    • Contact for pricing
      2,445 SF

      Renovated Office Space in Portland

      Second floor office space for lease in Portland's Financial District.
      50 Monument Sq, Portland, ME 04101
      View Details
    • Contact for pricing
      1,200 SF

      Fore Street Office Space Available

      Office space for lease in vibrant Portland waterfront area.
      167 Forest, Portland, ME 04101
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - 9,751 SF Office, Portland, ME
    Where is this medical office space located?
    The property is located at 295 Forest Ave Portland, ME.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    What are key features of this property?
    This property features: 9,751 SF office suite on the second floor of Hannaford Plaza, a Class B building in Portland, ME (04101).; High-visibility location on Forest Avenue with over 28,370 cars passing daily.; Private entrance with elevator access, ample on-site parking.
    (207) 772-1333 Call to check price and availability
    Request Owner's contact information
    295 Forest Ave Portland, ME 04101
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    295 Forest Ave
    Portland, ME 04101
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    295 Forest Ave Portland, ME 04101
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Gregory W. Boulos
    Gregory W. Boulos
    Real Estate License ID: 108812
    (207) 772-1333
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!