Active under contract

1190 Forest Avenue

Portland ME, 04103

$2,895,000


Active under contract

15,126 sqft

Multi-family

Built in 1900

Courtesy of Town & Shore Real Estate

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 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 Commercial MLS #1611107

1611104

MLS ID

December 12, 2024

Listed

December 18, 2024

Updated

Map

1190 Forest Avenue
Portland ME, 04103

Interior Features

Total Stories

2


Laundry Description

Washer Hookup


Floor Description

Wood, Tile, Laminate, Carpet


Fireplace

No


Cooling

Yes


Cooling Description

Heat Pump


Heating

Yes


Heating Description

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

Exterior/Building Features

Lot Size

0.47 Acres


Lot Features

Level, Near Shopping


Architectual Style

Multi-Level, Rooming House, Victorian


Roof

Membrane


Sewer

Public Sewer

Other Property Details

Taxes

$32,124


Tax Frequency

Annually


Garage

No


Parking

21 Spaces, Paved, Off Street


View

No


County

Cumberland


Water Source

Public


Pool

No


Zoning

B2

Listing History

Date

Event

Price

12/18/2024

Under contract

Listing Contact: 207-233-9423

Courtesy of  Town & Shore Real Estate

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. © 2024 Maine Real Estate Information System, Inc. All Rights Reserved. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Dambrie Garon Real Estate Advisors shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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Data last updated 4:10 PM UTC, 12/18/2024

 

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