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Active Under Contract

1190 Forest Avenue

1190 Forest Avenue, Portland, ME 04103

$2,895,000

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

15,126 Sq.Ft. LIVING AREA

0.47 Acres lot

Jeff Davis

title Broker
PHONE (207) 233 - 9423
EMAIL [email protected]
DRE # BR901562

Features & Amenities

Interior

Flooring Wood, Tile, Laminate, Carpet

Area & Lot

Status Active Under Contract
Living Area15,126 Sq.Ft.
Lot Area0.47 Acres
MLS® ID1611107
TypeCommercial
YEAR BUILT1900
NeighborhoodPortland

Exterior

STORIES2
water SourcePublic
roofMembrane
lot featuresNear Turnpike/Interstate, Business District, Bus Line, Near Shopping
parking21 Spaces, Paved, Off Street
HEAT TYPESpace Heater, Heat Pump, Forced Air, Direct Vent Heater
AIR CONDITIONINGHeat Pump
sewerPublic Sewer
SubstructureStone, Brick/Mortar

Financial

Sales Price$2,895,000
Real Estate Tax $32,124/yr
Zoning B2

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Contact Details

TOWN & SHORE REAL ESTATE

Phone

(207) 773-0262

[email protected]

Address

1 Union Wharf Portland, ME 04101

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