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    503-509 Forest Ave Portland, ME 04101

    Sponsored
    For Lease
    $10 SF/Yr

    Versatile Portland space, 1,268-6,313 sq ft.

    Lot size:
    73,750 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Portland, Maine commercial property offers 73,750 square feet of flexible retail, office, and industrial space across a single, two-story building. Located at 503-509 Forest Ave (cross street: Forest Ave), this Class B property is zoned B2b - Business Community (APN: Map 127, Block A, Lot 2, Cumberland County). Three suites are available, with a minimum divisible space of 1,268 square feet and a maximum contiguous space of 6,313 square feet. The building features convenient amenities including one loading dock, one drive-in door, and two elevators – one passenger and one freight. This prime location in the Greater Portland submarket offers excellent accessibility and visibility. Ideal for a variety of businesses seeking versatile space in a thriving community. The property is situated in Portland, ME, zip code 04101. This is a multi-tenant building offering a range of options to suit diverse business needs. The property's strategic location within the Portland submarket provides easy access to major transportation routes and a strong customer base. Don't miss this opportunity to secure your ideal space in this dynamic area.

    Property Features for 503-509 Forest Ave

    General Information

    Property type
    Flex space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    73,750 SF
    Class
    B
    Total Rate
    61458.33

    Building Details

    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    Unit 2
    Size
    6,313 SF
    Rate per SF
    $15
    Space
    Unit 3A
    Size
    1,268 SF
    Rate per SF
    $15
    Space
    Unit 6
    Size
    1,956 SF
    Rate per SF
    $15

    HighLights

    • 73,750 SF of flexible retail, office, and industrial space in a two‑story building.
    • Three suites available, 1,268 SF minimum, 6,313 SF maximum contiguous.
    • High visibility on Forest Ave (22,180 MDOT average daily traffic), ideal for showroom and storage.
    • Building amenities include one loading dock, one drive‑in door, and two elevators.
    • Lease rate: $10.00-$15.00/SF NNN.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.27889137
    Latitude
    43.66741815

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    FAQs

    What type of property is this?
    Flex space - Versatile Portland space, 1,268-6,313 sq ft.
    Where is this flex space located?
    The property is located at 503-509 Forest Ave Portland, ME.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: 73,750 SF of flexible retail, office, and industrial space in a two-story building.; Three suites available, 1,268 SF minimum, 6,313 SF maximum contiguous.; High visibility on Forest Ave (22,180 MDOT average daily traffic), ideal for showroom and storage.
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    503-509 Forest Ave Portland, ME 04101
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    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
    503-509 Forest Ave Portland, ME 04101
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