1190 Forest Avenue, Portland, ME 04103

$2,840,000
Property Type: Commercial Square Footage: 15,126 Lot Size (sq. ft.): 20,473 Status: Closed
Current Price: $2,840,000 List Date: 12/12/2024 Last Modified: 2/20/2025

Overview

Description

100% occupied brick 15,126 square foot mixed-use property. This historic building has undergone major renovation with new storefronts, windows, heating, plumbing, electrical, etc. The first floor is comprised of six retail storefronts currently configured for 5 tenants. Facing busy Forest Avenue and Bishop Street, property offers visibility on one of the busiest intersections in the state of Maine. The second floor is new residential, comprised of 25 rooming units and and common areas. The rear of the building offers parking and a loading dock. In addition, a separate .1825-acre, 20+ space parking lot is being conveyed with possible development opportunity. Current professional management is also available to the new owner if desired. Excellent financials, ideal for 1031 exchange investment. Close to many area restaurants, stores, businesses, and the University of New England. Also Listed Multifamily MLS #1611104

Listing Details MLS# 1611107

Location Information

Street #
1190
Street Name
Forest
Street Type
Avenue
County
Cumberland
Town
Portland
State/Province
ME
Zip Code
04103
Zip +4
3329
Leased Land
No
Book
34993
Page
004
Map
293
Block
A/D
Lot
007/016
Zoning
B2
Zoning Overlay
Unknown
Full Tax Amount $
32124.4
Tax Year
2025
Association Y/N
No

Contract Information

Original List Price
2895000

Property Information

Primary Use
Mixed Use
Surveyed
Unknown
Deed/Conveyance Type Offered
Quit Claim w/Covenant
Deed
All
Deed Restrictions
Unknown
Bank Owned REO
No
Year Built
1900
Year Renovated +/-
2021
Total # Floors
2
SqFt Finished Total
15126
Lot Size Acres +/-
0.47
Road Frontage +/-
430

Status Change Info

Pending Date
2024-12-17
Closed Date
2025-02-20
Closed Price
2840000

Commercial Bldg Information

Total Units
29

Utilities

Utilities On
Yes

More Information

Sold Info

Appraiser Email Address
john@jpowellappraisals.com

Location

Bus Line
Yes
Business District
Yes
Near Shopping
Yes
Near Turnpike/Interstate
Yes

Property Uses

Bar/Tavern/Lounge
Yes
Commercial
Yes
Convenience Store
Yes
Grocery
Yes
Hotel/Motel
Yes
Office Building
Yes
Restaurant
Yes
Retail
Yes

Construction

Masonry
Yes
Other
Yes

Basement

Full
Yes
Unfinished
Yes

Foundation Materials

Brick/Mortar
Yes
Stone
Yes

Exterior

Brick
Yes
Vinyl Siding
Yes

Roof

Membrane
Yes

Heat System

Direct Vent Heater
Yes
Forced Air
Yes
Heat Pump
Yes
Space Heater
Yes

Heat Fuel

Electric
Yes
Gas Natural
Yes

Cooling

Heat Pump
Yes

Floors

Carpet
Yes
Laminate
Yes
Tile
Yes
Wood
Yes

Building Features

Cable
Yes
Fire System
Yes
Internet Access Available
Yes
Loading Docks 1 - 4
Yes
Sprinkler - Wet
Yes

Parking

21+ Spaces
Yes
Off Street
Yes
Paved
Yes

Electric

Circuit Breakers
Yes

Gas

Natural - On Site
Yes

Sewer

Public Sewer
Yes

Water

Public
Yes

Property Features

Location: Bus Line; Business District; Near Shopping; Near Turnpike/Interstate Construction: Masonry; Other Property Uses: Bar/Tavern/Lounge; Commercial; Convenience Store; Grocery; Hotel/Motel; Office Building; Restaurant; Retail Basement: Full; Unfinished Foundation Materials: Brick/Mortar; Stone Exterior: Brick; Vinyl Siding Roof: Membrane Heat System: Direct Vent Heater; Forced Air; Heat Pump; Space Heater Heat Fuel: Gas Natural Cooling: Heat Pump Floors: Carpet; Laminate; Tile; Wood Building Features: Cable; Fire System; Internet Access Available; Loading Docks 1 - 4; Sprinkler - Wet Parking: 21+ Spaces; Off Street; Paved Electric: Circuit Breakers Gas: Natural - On Site Sewer: Public Sewer Water: Public
IDX
Listing Office: Town & Shore Real Estate
Selling Office: F.O. Bailey Real Estate
Last Updated: February - 20 - 2025
Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. Copyright ©2026 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing Opportunity.