1190 Forest Avenue, Portland, ME 04103 (MLS# 1611107)
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
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
Supplements: ********
More Information 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
Geo Lat: 43.687833
Geo Lon: -70.293695
Contract Information
Status: Closed
Original List Price: 2895000
Sold Price: $2,840,000
Current Price: $2,840,000
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
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 ›Listing Office: Town & Shore 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 ©2022 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing Opportunity.
