1190 Forest AvenuePortland, ME 04103MLS Number 1542320

  • Price: $3,250,000
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Federal 30-year interest rate: 6.13% last updated on Jan 26, 2023
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1190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 041031190 Forest Avenue Portland ME 04103
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  • 0.47Acreage
  • 1900Year Built
100% occupied brick 15,126 square foot mixed-use property. This historic building has just 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 22 rooming units and a 2-bedroom apartment. 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 Multi-Family MLS # 1542321
Listed by Town & Shore Real Estate

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Coldwell Banker American Heritage Real Estate

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Coldwell Banker American Heritage Real Estate
Office: 207-942-6773
510 Broadway
Bangor, ME 04401

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Location Information

  • Building Number1190
  • StreetForest Avenue

Building

  • BasementFull, Unfinished
  • Stories2
  • Total Units29
  • Year Built1900
  • FoundationBrick/Mortar, Stone
  • Building ConstructionMasonry, Other
  • Building FeaturesCable, Fire System, Internet Access Available, Loading Docks 1 - 4, Sprinkler - Wet
  • RoofMembrane
  • Year Renovated2021

Property Information

  • Property UsesBar/Tavern/Lounge, Commercial, Convenience Store, Grocery, Hotel/Motel, Office Building, Restaurant, Retail
  • Zoning OverlayUnknown

Photos

  • Number of Photos35
  • Last Img Trans Date09/07/2022

Tax Information

  • Tax Year2,022

Location

  • StateME
  • TownPortland
  • Zip04103
  • LocationBus Line, Business District, Near Shopping, Near Turnpike/Interstate
  • CountyCumberland
  • Map293
  • Road Frontage430

Property

  • Acreage0.47
  • Sq Ft Finished Total15,126
  • Leased LandNo

Utilities

  • Heat SystemDirect Vent Heater, Forced Air, Heat Pump, Space Heater
  • Heating FuelElectric, Gas Natural
  • Waste Water DisposalPublic Sewer
  • WaterPublic
  • CoolingHeat Pump
  • ElectricCircuit Breakers
  • GasNatural - On Site

Basic Information

  • List Price$3,250,000
  • MLS Number1542320
  • Address1190 Forest Avenue
  • Broker NameTown & Shore Real Estate
  • Modification Date09/08/2022
  • Agent ID002054
  • Broker ID1067
  • MLS StatusActive
  • Property SubTypeMixed Use

Interior

  • FloorsCarpet, Laminate, Tile, Wood

Exterior

  • ExteriorBrick, Vinyl Siding

Amenities

  • Other AmenitiesBasement

Legal

  • Taxes$27,801
  • ZoningB2
  • GrossIncome357173
  • Operating Expenses116378

Other

  • Parking Spaces21+ Spaces, Off Street, Paved
  • View Count6

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