Mixed-Use Building With Office
For Sale
$450,000
59 Bangor Street, Augusta, ME 04330
Commercial Sale, Augusta, ME
Property Size2,756 SF
Lot Size0.24 Acres
Price / SF$163.28
Days on Market111
Property Features for 59 Bangor Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CB
Rooms
Basement
Basement
Unfinished, Partial
Accessibility
Accessible Approach with Ramp
Lot features
Business District, Near Shopping
Standard status
Active
Size
2,756 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6761
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Oil, Hot Water(Heating), Baseboard
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1978
Flooring type
Laminate
Building materials
Wood Frame, Brick Veneer, Vinyl Siding
Roof type
Shingle
Listing Agency:
Hoang Realty
(207) 623-0623
Listed By:
Heidi Witham Hoa Hoang
(207) 707-2919
Added: May 21
Changed: Aug 19
Last Checked: Sep 8 at 6:06AM
MLS# 1659178
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 59 Bangor Street in Augusta, this 2,756-square-foot mixed-use property includes a one-bedroom apartment and three office spaces. The layout has historically accommodated office, retail, and residential functions, providing a combination of private living space and commercial areas within one building.
The 0.24-acre property is zoned CB and was built in 1978. Construction includes wood framing with brick veneer and vinyl siding, while interior flooring is laminate. Building systems include oil-fired hot-water baseboard heat, zoned heating, and wall-unit cooling. Public water and public sewer serve the property, and an accessible approach with ramp is provided. A shingle roof and basement are also included.
The 0.24-acre property is zoned CB and was built in 1978. Construction includes wood framing with brick veneer and vinyl siding, while interior flooring is laminate. Building systems include oil-fired hot-water baseboard heat, zoned heating, and wall-unit cooling. Public water and public sewer serve the property, and an accessible approach with ramp is provided. A shingle roof and basement are also included.
Key Highlights
- 2,756 SF mixed‑use property on a 0.24‑acre lot
- One‑bedroom apartment plus three office spaces
- Zoned CB
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
$38,959
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
8.66%
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%
$779,180
$779.2K
Cap Rate 7%
$556,557
$556.6K
Cap Rate 9%
$432,878
$432.9K
Market Conditions
NOI Build-Up for 2,756 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
$59.5K $21.60/SF
− Vacancy
−$7.6K −$2.75/SF
EGI
$51.9K $18.85/SF
− OpEx
−$13.0K −$4.71/SF
NOI
$39.0K $14.14/SF
Area
Kennebec County, ME
Vacancy
12.74%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$779,180
Cap Rate 7%
$556,557
Cap Rate 9%
$432,878
Alternative Uses
Best Use
Office B
$556.6K
$487.0K – $649.3K
NOI $38,959 @ 7.0% cap · market cap 8.66%
Second Best
Mixed Use
$406.2K
$355.4K – $473.9K
NOI $28,432 @ 7.0% cap · market cap 6.32%
Theoretical Best
Warehouse
$4.11M
$3.60M – $4.80M
NOI $287,818 @ 7.0% cap · market cap 63.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
622
Businesses Nearby
Explore this area
Business Placement
Demographics for 04330, ME
26,322
Population
13,017
Households
2
Avg Household Size
44
Median Age
28%
College-Educated
95%
High-School Grad
116.9 sq mi
ZIP Area
225
Density / Sq Mi
$55,158
Median Household Income
$43,177
Median Earnings
$912
Median Rent
$197,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Property includes a one-bedroom apartment alongside multiple office spaces in a flexible mixed-use configuration.
Where is this mixed-use property located?
The property is located at 59 Bangor Street Augusta, ME.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,756 SF mixed‑use property on a 0.24‑acre lot; One‑bedroom apartment plus three office spaces; Zoned CB
