Mixed-Use Building with Apartments and
For Sale
$1,199,000
123-127 Franklin Street, Bangor, ME 04401
COMMERCIAL - Bangor, ME
Property Size13,200 SF
Lot Size0.12 Acres
Price / SF$90.83
Days on Market38
Property Features for 123-127 Franklin Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
24 Downtown Dev Dist
Rooms
Basement
Parking features
On Street
Basement
Full
Lot features
Public Transport Access, Downtown, Bus Line, Near Shopping
Standard status
Active
Size
13,200 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
11923
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Baseboard
Cooling system
Central Air
Water source
Public
Building Details
Year built
1912
Number of units
4
Flooring type
Tile, Carpet, Hardwood
Building materials
Masonry, Brick, Concrete
Roof type
Membrane
Listing Agency:
ERA Dawson-Bradford Co. · ERA Real Estate
(207) 947-6788
Listed By:
Stephen Sprague
(207) 319-8129
Added: Jun 30
Changed: Aug 4
Last Checked: Aug 6 at 7:06AM
MLS# 1653941
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Mixed-use investment property built in 1912 featuring four fully renovated residential apartments and two restaurant spaces. Residential units are finished with hardwood floors and large windows for natural light, and include washer and dryer hookups. Apartment interiors were renovated between 2015 and 2019. The building’s commercial component includes a lower-level restaurant/bar space operated as Benjamin’s Pub, along with a first-floor restaurant and bar space currently undergoing cosmetic renovations.
The first-floor space is set up with a dining area and bar concept, and the commercial spaces were renovated between 2020 and 2021 with updated kitchen suppression systems. Additional building improvements include a natural gas furnace installed in 2012. The building facade was repaired and repainted in 2019 using City of Bangor facade grant funds, and the property remains eligible for additional facade grants with up to 50% cost share as part of the Downtown Development District.
The property includes approximately 0.12 acres and 13,200 square feet of total building area, with public water and public sewer services. HVAC includes central air, and heating sources include baseboard, forced air, and natural gas. Parking is on-street, and the foundation level includes a basement.
The first-floor space is set up with a dining area and bar concept, and the commercial spaces were renovated between 2020 and 2021 with updated kitchen suppression systems. Additional building improvements include a natural gas furnace installed in 2012. The building facade was repaired and repainted in 2019 using City of Bangor facade grant funds, and the property remains eligible for additional facade grants with up to 50% cost share as part of the Downtown Development District.
The property includes approximately 0.12 acres and 13,200 square feet of total building area, with public water and public sewer services. HVAC includes central air, and heating sources include baseboard, forced air, and natural gas. Parking is on-street, and the foundation level includes a basement.
Key Highlights
- Four fully renovated residential apartments with hardwood floors and washer/dryer hookups
- Two restaurant spaces including Benjamin's Pub and a first‑floor restaurant/bar area currently cosmetically renovating
- Apartments renovated between 2015 and 2019; commercial spaces renovated between 2020 and 2021 with updated kitchen suppression
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $166.3k | $12.60 |
| − Vacancy | −$15.0k | −$1.13 |
| EGI | $151.4k | $11.47 |
| − OpEx | −$56.8k | −$4.30 |
| NOI | $94.6k | $7.17 |
13,200 SF · lease $12.60/SF/yr · vacancy 9.00% · expense 37.50%
Alternative Uses
Best Use
Specialty Retail
$2.57M
$2.25M – $3.00M
NOI $179,820 @ 7.0% cap · market cap 15.00%
Second Best
Multifamily LT 5
$1.73M
$1.51M – $2.02M
NOI $120,971 @ 7.0% cap · market cap 10.09%
Theoretical Best
Office A
$4.26M
$3.73M – $4.97M
NOI $298,426 @ 7.0% cap · market cap 24.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,014
Businesses Nearby
Explore this area
Business Placement
Demographics for 04401, ME
44,608
Population
20,932
Households
2.1
Avg Household Size
40
Median Age
37%
College-Educated
96%
High-School Grad
100.1 sq mi
ZIP Area
446
Density / Sq Mi
$66,136
Median Household Income
$40,863
Median Earnings
$1,048
Median Rent
$229,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Well-maintained mixed-use property with four renovated apartments and two restaurant/bar spaces in Bangor.
Where is this mixed-use property located?
The property is located at 123-127 Franklin Street Bangor, ME.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Four fully renovated residential apartments with hardwood floors and washer/dryer hookups; Two restaurant spaces including Benjamin's Pub and a first‑floor restaurant/bar area currently cosmetically renovating; Apartments renovated between 2015 and 2019; commercial spaces renovated between 2020 and 2021 with updated kitchen suppression
