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    Mixed-Use Retail and Apartments Title is generated by Realmo AI

    317 Main Street, Bingham, ME 04920

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    For Sale
    $80,000

    COMMERCIAL - Bingham, ME

    Property size:
    6,000 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $13/SF
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 2:06 pm

    Property Features for 317 Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Standard status
    Active
    Size
    6,000 SF
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    734

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Oil, Baseboard
    Water source
    Public

    Building Details

    Year built
    1950
    Flooring type
    Laminate, Wood, Concrete
    Building materials
    Wood Frame, Wood Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Jacquelynne Rivers

    Listing agent Jacquelynne Rivers

    Listing office Keller Williams Realty 50 Sewall Street, Portland, ME

    Listing date Jun 3, 2026

    MLS# 1650761

    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.

    HighLights

    • 6‑unit investment property in downtown Bingham, ME, with mixed‑use setup including commercial and residential space
    • Ground level has two side‑by‑side commercial units, including a laundromat space (never operated by the current owners)
    • Residential units include one 2BR/1BA on the first floor plus four additional units on the second level: 4BR/2BA, 2BR/1BA, and two 1BR/1BA
    • Two units (4BR and 2BR) are described as in near‑rental condition
    • Recent updates reported: new stairs and deck, replaced some flooring and plumbing, fixed some electrical, and replaced the furnace
    • Utilities and building systems: public water and public sewer; metal roof; oil baseboard heat

    Overview

    The property is a six-unit mixed-use building featuring two commercial retail units on the ground level and residential apartments above. The commercial space includes two side-by-side storefront units with large front windows. One ground-level unit is described as a laundromat that has never been operated by the current owners. At the rear of the building is the entrance to a first-floor 2BR/1BA apartment that is in need of renovation.

    On the second level, there are four additional residential units: one 4BR/2BA, one 2BR/1BA, and one 1BR/1BA, with two units described as being in near rental condition. The sellers have installed new stairs and a deck, replaced some flooring and plumbing, fixed some electrical, and replaced the furnace. The address is 317 Main Street in downtown Bingham, Maine.

    This property can be a practical fit for an owner-operator or investor seeking a combined retail and residential setup in a downtown setting. It offers storefront space for a business use while also providing multiple apartment units, with some units currently described as closer to ready for occupancy and at least one apartment and one commercial laundromat unit noted as requiring renovation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Restaurant Law Firm Auto Repair Shop Building Supply Big Box & Wholesale Store Dental Office Auto Parts Store Food Market HVAC Service Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bingham
    County
    Somerset
    State
    Maine
    Longitude
    -69.8823
    Latitude
    45.1348

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    FAQs

    What type of property is this?
    Quadplex - Six-unit mixed-use property with two retail storefronts and multiple apartments in downtown Bingham, Maine.
    Where is this quadplex located?
    The property is located at 317 Main Street Bingham, ME.
    What is the asking price?
    The asking price for this property is $80,000.
    What are key features of this property?
    This property features: 6‑unit investment property in downtown Bingham, ME, with mixed‑use setup including commercial and residential space; Ground level has two side‑by‑side commercial units, including a laundromat space (never operated by the current owners); Residential units include one 2BR/1BA on the first floor plus four additional units on the second level: 4BR/2BA, 2BR/1BA, and two 1BR/1BA
    (207) 860-8154
    We can help!
    Listing Contact
    Jacquelynne Rivers
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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