Office Condo with
For Sale
$129,900
115 Franklin Street #2B, Bangor, ME 04401
Three private office rooms, a kitchen, and a bathroom support a range of day-to-day business needs.
Property Size823 SF
Price / SF$157.84
Days on Market1461
Property Features for 115 Franklin Street #2B
General Information
Standard status
Active
Size
823 SF
Elevators
Yes
Property subtype
Commercial
Zoning
Com
Additional Details
Floor
2
Taxes and HOA fees
Annual Taxes
$2,221
Building Details
Building Size
823 SF
Year Built
1983
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Corey Dunn
(207) 949-2425
Source:
Amerorealty
Added: Oct 24, 2022
Changed: Oct 22
Last Checked: Oct 22 at 2:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This second-floor office condo at 115 Franklin Street includes three office rooms, a shared entrance area, a kitchen, and a private bathroom. Elevator access serves the upper-level unit, and approximately 70 square feet of storage is located in the basement. The building dates to 1983, and the property is zoned Com.
The unit is in downtown Bangor, across from a municipal parking lot. Free street parking and owner parking on site are also available. Restaurants, municipal buildings, shopping, and the library are nearby.
The unit is in downtown Bangor, across from a municipal parking lot. Free street parking and owner parking on site are also available. Restaurants, municipal buildings, shopping, and the library are nearby.
Key Highlights
- Three office rooms, kitchen, and private bathroom
- Second‑floor unit with elevator access
- Approximately 70 square feet of basement storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,634
Cap Rate
8.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$232,680
$232.7K
Cap Rate 7%
$166,200
$166.2K
Cap Rate 9%
$129,267
$129.3K
Market Conditions
NOI Build-Up for 823 SF
Gross rent
$17.8K $21.60/SF
− Vacancy
−$2.3K −$2.75/SF
EGI
$15.5K $18.85/SF
− OpEx
−$3.9K −$4.71/SF
NOI
$11.6K $14.14/SF
Area
Penobscot 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 Rate 5%
$232,680
Cap Rate 7%
$166,200
Cap Rate 9%
$129,267
Alternative Uses
Best Use
Office B
$166.2K
$145.4K – $193.9K
NOI $11,634 @ 7.0% cap · market cap 8.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$265.8K
$232.6K – $310.1K
NOI $18,606 @ 7.0% cap · market cap 14.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Three private office rooms, a kitchen, and a bathroom support a range of day-to-day business needs.
Where is this office unit located?
The property is located at 115 Franklin Street #2B Bangor, ME.
What is the asking price?
The asking price for this property is $129,900.
What are key features of this property?
This property features: Three office rooms, kitchen, and private bathroom; Second‑floor unit with elevator access; Approximately 70 square feet of basement storage
