1190 Frst Ave, Portland, ME 04103-3329
- Residential income homes
- 22,689 SF
- 0.29 lot acres
Current Use by Public Records
- The Photo Kitchen / (Bike/Boat/Book/etc) Store / Photography Service
Property Details for 1190 Frst Ave
- Year built
- 1900
- Lot size
- 0.29 lot acres
- Property type
- Residential income homes
- Property subtype
- Serviced apartments
- APN
- PTLD M:293 B:A007001
- APU
- PTLDM293BA007001
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| — | — | Parkside Properties LLC | — | Deed Of Trust | $825k · James J Burgess |
| — | — | Parkside Properties LLC | — | Deed Of Trust · related | $1.1M · Mechanics S&l Fsa |
| — | — | Parkside Properties LLC | — | Loan Modification · related | $1.3M · Cp Lending LLC |
Description
This exceptional 15,126-square-foot mixed-use property at 1190 Forest Avenue in Portland, Maine, presents a compelling investment opportunity. The completely occupied brick building boasts a prime location at a high-traffic intersection of Forest Avenue and Bishop Street, ensuring excellent visibility and accessibility. A recent comprehensive renovation included new storefronts, windows, heating, plumbing, and electrical systems, ensuring modern functionality and efficiency. The ground floor comprises six retail spaces currently leased to five tenants, generating strong rental income. Upstairs, the building features 25 newly renovated residential rooming units, along with shared common areas. Ample parking is provided at the rear of the building, including a loading dock, and a separate 0.1825-acre parking lot with over 20 spaces is included in the sale, offering potential for future development. The property's strong financial performance makes it an ideal candidate for a 1031 exchange. Current professional management is available for a seamless transition. Situated near numerous restaurants, shops, businesses, and the University of New England, this property benefits from a vibrant and convenient location. The 0.47-acre lot provides additional value and potential. This is a rare opportunity to acquire a fully occupied, high-performing mixed-use asset in a desirable Portland location.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Cumberland
- State
- Maine
- Longitude
- -70.2937
- Latitude
- 43.6879
- CBSA code
- 38860
- CBSA name
- PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA
