Mixed-Use Building with
For Sale
$2,700,000
158 Main Street, Bangor, ME 04401
COMMERCIAL - Bangor, ME
Property Size22,000 SF
Lot Size0.30 Acres
Price / SF$122.73
Days on Market45
Property Features for 158 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Downtown Development
Rooms
Basement
Parking features
Off Street
Basement
Finished, Unfinished
Lot features
Water View, Public Transport Access, Near Turnpike/ Interstate, Near Airport, Downtown, Bus Line, Near Shopping, Retail Strip
Standard status
Active
Size
22,000 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
8961
Utilities
Sewer type
Public Sewer
Heating system
Propane (Heating), Oil
Water source
Public
Building Details
Year built
1900
Flooring type
Wood, Linoleum, Tile - Ceramic, Vinyl, Concrete
Building materials
Masonry, Stone, Wood Frame, Brick, Vinyl Siding, Wood Siding
Roof type
Flat
Listing Agency:
CENTURY 21 Queen City Real Estate · Century 21 Real Estate
(207) 942-4618
Listed By:
Estrella Ruiz
(207) 249-6214
Added: Jun 29
Changed: Aug 4
Last Checked: Aug 12 at 9:06AM
MLS# 1669296
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.
Located at 158 Main Street in Bangor, this mixed-use commercial property totals 22,000 square feet across four floors on a 0.3-acre site. The building includes the iconic Tavern plus a well-established dance and ballet studio, and six one-bedroom apartments with two shared bathrooms that were previously operated as a rooming house.
Construction is described as masonry with stone, brick, and wood framing elements, with vinyl and wood siding. Interior finishes include wood, concrete, vinyl, ceramic tile, and linoleum, and the roof is listed as flat. Heating is provided via propane heating and oil, and the property has public water and public sewer. Off-street parking is available.
The property is within Bangor’s Downtown Development District and is zoned Downtown Development. The McGuire Building is positioned for visibility with exposure to more than 10,000 vehicles daily.
Construction is described as masonry with stone, brick, and wood framing elements, with vinyl and wood siding. Interior finishes include wood, concrete, vinyl, ceramic tile, and linoleum, and the roof is listed as flat. Heating is provided via propane heating and oil, and the property has public water and public sewer. Off-street parking is available.
The property is within Bangor’s Downtown Development District and is zoned Downtown Development. The McGuire Building is positioned for visibility with exposure to more than 10,000 vehicles daily.
Key Highlights
- 22,000 SF mixed‑use building on a 0.3‑acre site
- Four floors with the Tavern, a dance and ballet studio, and six one‑bedroom apartments
- Zoned Downtown Development within Bangor’s Downtown Development District
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$185,435
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,708,700
$3.7M
Cap Rate 7%
$2,649,071
$2.6M
Cap Rate 9%
$2,060,389
$2.1M
Market Conditions
NOI Build-Up for 22,000 SF
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.
Gross rent
$356.4K $16.20/SF
− Vacancy
−$19.2K −$0.87/SF
EGI
$337.2K $15.33/SF
− OpEx
−$151.7K −$6.90/SF
NOI
$185.4K $8.43/SF
Area
Penobscot County, ME
Vacancy
5.40%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,708,700
Cap Rate 7%
$2,649,071
Cap Rate 9%
$2,060,389
Alternative Uses
Best Use
Specialty Retail
$4.28M
$3.75M – $5.00M
NOI $299,701 @ 7.0% cap · market cap 11.10%
Second Best
Apartment 5plus
$2.65M
$2.32M – $3.09M
NOI $185,435 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$7.11M
$6.22M – $8.29M
NOI $497,376 @ 7.0% cap · market cap 18.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,106
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 - Downtown mixed-use building with an on-site tavern, a dance and ballet studio, and one-bedroom apartments with off-street parking.
Where is this mixed-use property located?
The property is located at 158 Main Street Bangor, ME.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 22,000 SF mixed‑use building on a 0.3‑acre site; Four floors with the Tavern, a dance and ballet studio, and six one‑bedroom apartments; Zoned Downtown Development within Bangor’s Downtown Development District
