Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    431 Forest Portland, ME 04101
    Back to Search
    Property profile & analytics

    431 Forest, Portland, ME 04101

    View on Map
    • Retail properties & Spaces
    • 80,189 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 431 Forest

    Year built
    2013
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional 80,189 square foot retail property, located at 431 Fore Street in Portland, Maine, presents a unique investment opportunity. Built in 2013, this single-tenant building sits on a 0.44-acre lot and is zoned B-3, offering significant potential for a variety of uses. Currently configured as a bar and restaurant, the space boasts a modern design and is equipped with elevators for convenient access. The property's prime location in Portland's vibrant city center ensures high visibility and foot traffic. The address is 431 Fore St, Portland, ME 04101, and the property's Assessed Parcel Number (APN) is Map 32 Block I Lot 42 within Cumberland County. This substantial building offers a rare chance to acquire a well-established commercial space in a thriving market. The property's size and location make it ideal for a variety of businesses seeking a prominent presence in Portland. The building's modern construction and amenities, combined with its strategic location, make it an attractive proposition for discerning investors and business owners. The property's single-tenancy status offers streamlined management and potential for long-term lease agreements. Serious inquiries are encouraged to explore this exceptional opportunity further.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.2548
    Latitude
    43.656

    Comparable in this City

    • Value Estimation by Request
      7,620 SF

      186 Washington Ave

      Restaurants
      186 Washington Ave, Portland, ME 04101
      View Details
    • Value Estimation by Request
      3,000 SF

      649 Congress St

      Restaurants
      649 Congress St, Portland, ME 04101
      View Details
    • Value Estimation by Request
      6,981 SF

      327 Commercial St

      Restaurants
      327 Commercial St, Portland, ME 04101
      View Details
    • Value Estimation by Request
      125,790 SF

      554 Congress St

      Restaurants
      554 Congress St, Portland, ME 04101
      View Details
    • Value Estimation by Request
      4,321 SF

      115 Cumberland Ave

      Restaurants
      115 Cumberland Ave, Portland, ME 04101
      View Details
    • Value Estimation by Request
      1,350 SF

      Canal Plz

      Restaurants
      0 Canal Plz, Portland, ME 04101
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,352 SF

      Restaurant Condo with Outdoor Patio

      5,352 SF retail condo with restaurant/bar space for sale.
      11 Brown St, Portland, ME 04101
      View Details
    • Contact for pricing

      Prime Portland Restaurant Space

      Restaurant space in high-traffic Portland location with solid lease.
      13-15 Exchange St, Portland, ME 04101
      View Details
    • Contact for pricing

      555 Congress St, Portland, ME 04101

      Mixed-use properties
      555 Congress St, Portland, ME 04101
      View Details
    • Contact for pricing
      8,229 SF

      Downtown Portland Food Hall Space

      8,229 SF food hall in downtown Portland for lease.
      28 Monument Sq, Portland, ME 04101
      View Details
    • Contact for pricing
      4,830 SF

      Mixed-Use Building in Old Port

      Mixed-use building in a rapidly appreciating Portland neighborhood.
      85 India St, Portland, ME 04101
      View Details
    • Contact for pricing
      16,380 SF

      Mixed-Use Building in Downtown Portland

      16,380± SF mixed-use building in the heart of downtown.
      496 Congress St, Portland, ME 04101
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,000 SF

      Restaurant Space in Monument Square

      Restaurant space in a high-traffic, downtown Portland location.
      15 Monument Sq, Portland, ME 04101
      View Details
    • Contact for pricing
      10,894 SF

      Portland Flex Space with Restaurant

      10,894± SF commercial space in Portland's popular neighborhood.
      123 Washington Ave, Portland, ME 04101
      View Details
    • Contact for pricing
      4,424 SF

      Restaurant Opportunity in Bayside Neighborhood

      Stand-alone restaurant building with parking and outdoor seating.
      114 Preble St, Portland, ME 04101
      View Details
    • $29 SF/Yr
      195,000 SF

      Downtown Portland Cafe Space

      Prime Portland location, 350 sq ft cafe
      100 Middle St, Portland, ME 04101
      View Details
    • Contact for pricing
      2,750 SF

      Restaurant/Retail Space For Lease

      2,750 SF first-floor restaurant/retail space available for lease.
      65-67 Portland St, Portland, ME 04101
      View Details
    • Contact for pricing
      5,969 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
    Request Owner's contact information
    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.
    431 Forest
    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
    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

    Thank You for Inquiry
    431 Forest, Portland, ME, 04101
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!