Three-Story Duplex with
For Sale
$539,900
117 Mill Street, Orono, ME 04473
Multi-Family, Orono, ME
Property Size4,560 SF
Lot Size0.25 Acres
Price / SF$118.40
Days on Market83
Property Features for 117 Mill Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
HDR
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Basement
Basement
Unfinished, Full
Lot features
Open, Level, Sidewalks, Near Shopping, Suburban
Standard status
Active
Size
4,560 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11370
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Zoned, Natural Gas, Hot Water(Heating)
Water source
Public
Amenities
in-unit washer and dryer connections
Building Details
Year built
1910
Floors in Building
3
Number of units
2
Flooring type
Carpet, Vinyl
Building materials
Masonry, Stucco, Vinyl Siding
Roof type
Membrane
Additional Structures
Outbuilding
Listing Agency:
ERA Dawson-Bradford Co. · ERA Real Estate
(207) 947-6788
Listed By:
Adrian Nadeau
(207) 947-3363
Added: Jul 16
Changed: Oct 5
Last Checked: Oct 6 at 1:06AM
MLS# 1669977
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.
This vacant three-story duplex property contains 4,560 square feet on a 0.25-acre lot. The building includes a garage, on-site parking, and residential units with washer and dryer connections; one unit is furnished. Recent work includes updated heating systems and a reinforced foundation. Construction materials include masonry, stucco, and vinyl siding, with vinyl and carpet flooring. The property was built in 1910 and has a membrane roof.
Located at 117 Mill Street in Orono, the property is near downtown Orono, local restaurants, shops, services, and recreation. Public transportation access is also noted, and the University of Maine is nearby. The property has HDR zoning, public water, and public sewer.
Located at 117 Mill Street in Orono, the property is near downtown Orono, local restaurants, shops, services, and recreation. Public transportation access is also noted, and the University of Maine is nearby. The property has HDR zoning, public water, and public sewer.
Key Highlights
- 4,560‑square‑foot duplex property on a 0.25‑acre lot
- Three‑story vacant building with garage and on‑site parking
- HDR zoning with public water and public sewer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,790
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$835,800
$835.8K
Cap Rate 7%
$597,000
$597.0K
Cap Rate 9%
$464,333
$464.3K
Market Conditions
NOI Build-Up for 4,560 SF
Gross rent
$62.9K $13.80/SF
− Vacancy
−$3.2K −$0.71/SF
EGI
$59.7K $13.09/SF
− OpEx
−$17.9K −$3.93/SF
NOI
$41.8K $9.16/SF
Area
Penobscot County, ME
Vacancy
5.13%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$835,800
Cap Rate 7%
$597,000
Cap Rate 9%
$464,333
Alternative Uses
Best Use
Multifamily LT 5
$597.0K
$522.4K – $696.5K
NOI $41,790 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$549.1K
$480.5K – $640.6K
NOI $38,436 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,092 @ 7.0% cap · market cap 19.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Explore this area
Business Placement
Demographics for 04473, ME
8,070
Population
3,759
Households
2.1
Avg Household Size
28
Median Age
64%
College-Educated
98%
High-School Grad
17.3 sq mi
ZIP Area
466
Density / Sq Mi
$58,893
Median Household Income
$27,016
Median Earnings
$1,146
Median Rent
$217,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant three-story duplex with a garage, public utilities, and on-site parking.
Where is this duplex located?
The property is located at 117 Mill Street Orono, ME.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: 4,560‑square‑foot duplex property on a 0.25‑acre lot; Three‑story vacant building with garage and on‑site parking; HDR zoning with public water and public sewer
