1190 Forest Avenue, Portland, ME 04103

$2,840,000

Virtual Tour

https://www.propertypanorama.com/instaview/mreis/1611107

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

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

Documents

I&E ›

Disclosures ›

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.