1569 Forest AvePortland, ME 04103

Property Details for 1569 Forest Ave

Year built

1967

Lot size

1.05 AC

Property size (Sq ft)

1,352 SF

Property type

Retail properties

Property subtype

Retail space

APN

PTLD M:338 B:M001001

APU

PTLDM338BM001001

Description

This exceptional 1.652 square foot mixed-use property, located at 1569 Forest Avenue in Portland, Maine, presents a truly unique investment opportunity. Situated on a level, 1.04-acre corner lot, this site boasts unparalleled accessibility and visibility. Recently rezoned to B-1, the property is now primed for a wide range of development possibilities, including restaurant, retail, and residential uses. Its strategic location offers significant advantages: multiple curb cuts for convenient access, proximity to public transportation via a nearby bus line, and walkability to schools, parks, and local shops. The expansive, open lot provides ample space for ambitious projects. While the adjacent Riverton Station is not included in the sale, its inclusion is negotiable, offering potential for synergistic development. This property represents a rare chance to acquire a highly desirable, versatile site in a thriving Portland neighborhood. The asking price is $2,495,000. This is a remarkable opportunity for developers seeking a prime location with significant upside potential. The property's zoning and location combine to create a compelling investment prospect in a dynamic and growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $328,583

  6.5%

  $303,308

  7%

  $281,643

• Comparable approach

  Method

  Valuation

  Relative Method

  $445,164

  Geo Method

  $445,164

• Alternative Use

  Use

  Valuation

  Residential

  $255,851

  Hospitality

  $234,358

  Educational

  $194,983

  Medical

  $201,689

  Retail

  $303,308

Location Insight

City

Portland

County

Cumberland

State

Maine

Latitude

43.6967

Longitude

-70.3057

CBSA code

38860

CBSA name

PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].