Mixed-Use Building with Two
123-127 Franklin Street Bangor, ME 04401
123-127 Franklin Street, Bangor, ME, 04401
$1,199,000
For Sale
$1,199,000
COMMERCIAL - Bangor, ME
Property Size13,200 SF
Lot Size0.12 Acres
Price / SF$90.83
Days on Market21
Property Features for 123-127 Franklin Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- 24 Downtown Dev Dist
- Rooms
- Basement
- Parking features
- On Street
- Basement
- Full
- Standard status
- Active
- Size
- 13,200 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 11923
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas, Baseboard
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1912
- Number of units
- 4
- Flooring type
- Tile, Hardwood, Carpet
- Building materials
- Masonry, Brick, Concrete
- Roof type
- Membrane
Listing Agency
ERA Dawson-Bradford Co.
(207) 947-6788
417 Main Street, Bangor, ME
Listed by
Stephen Sprague
(207) 319-8129
Added: Jun 30 Checked: Jul 20 at 3:06 am
MLS# 1653941
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 mixed-use property at 123 & 127 Franklin Street offers four fully renovated residential apartments along with two restaurant spaces. The residential units are arranged on the second and third floors and include hardwood floors, large windows for natural light, and washer and dryer hookups. Renovations to the apartments were completed between 2015 and 2019. The layout includes a mix of unit sizes, including three-bedroom configurations and a two-bedroom unit, each with one bathroom plus additional den space in select units.
The commercial component includes two restaurant/bar spaces. The lower level is Benjamin’s Pub, and the first-floor restaurant and bar space with a dining area is currently undergoing cosmetic renovations. The commercial areas were renovated between 2020 and 2021 and include updated kitchen suppression systems. Additional building improvements include a natural gas furnace installed in 2012 and a facade repaired and repainted in 2019 using City of Bangor facade grant funds.
Zoned as part of the 24 Downtown Dev Dist, the property remains eligible for additional facade grants with up to 50% cost share. For investors or operators seeking a stabilized mixed-use setup, this configuration provides in-building residential income alongside street-level restaurant and bar space in downtown Bangor’s development district.
The commercial component includes two restaurant/bar spaces. The lower level is Benjamin’s Pub, and the first-floor restaurant and bar space with a dining area is currently undergoing cosmetic renovations. The commercial areas were renovated between 2020 and 2021 and include updated kitchen suppression systems. Additional building improvements include a natural gas furnace installed in 2012 and a facade repaired and repainted in 2019 using City of Bangor facade grant funds.
Zoned as part of the 24 Downtown Dev Dist, the property remains eligible for additional facade grants with up to 50% cost share. For investors or operators seeking a stabilized mixed-use setup, this configuration provides in-building residential income alongside street-level restaurant and bar space in downtown Bangor’s development district.
Key Highlights
- Mixed‑use building at 123 & 127 Franklin Street in Downtown Bangor’s Development District
- Four renovated residential apartments: 3BR/1BA (800 SF), 2BR/1BA (900 SF), 3BR/1BA/1Den (1,000 SF), and 3BR/2BA/1Den (1,000 SF)
- Renovations completed between 2015–2019 for apartments; washer/dryer hookups and hardwood flooring in the units
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $166.3k | $12.60 |
| − Vacancy | −$15.0k | −$1.13 |
| EGI | $151.4k | $11.47 |
| − OpEx | −$56.8k | −$4.30 |
| NOI | $94.6k | $7.17 |
13,200 SF · lease $12.60/SF/yr · vacancy 9.00% · expense 37.50%
Alternative Uses
Best Use
Specialty Retail
$2.57M
$2.25M – $3.00M
NOI $179,820 @ 7.0% cap · market cap 15.00%
Second Best
Multifamily LT 5
$1.73M
$1.51M – $2.02M
NOI $120,971 @ 7.0% cap · market cap 10.09%
Theoretical Best
Office A
$4.26M
$3.73M – $4.97M
NOI $298,426 @ 7.0% cap · market cap 24.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Downtown Bangor mixed-use property combining renovated apartments with two restaurant/bar spaces under Development District zoning.
Where is this mixed-use property located?
The property is located at 123-127 Franklin Street Bangor, ME.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Mixed‑use building at 123 & 127 Franklin Street in Downtown Bangor’s Development District; Four renovated residential apartments: 3BR/1BA (800 SF), 2BR/1BA (900 SF), 3BR/1BA/1Den (1,000 SF), and 3BR/2BA/1Den (1,000 SF); Renovations completed between 2015–2019 for apartments; washer/dryer hookups and hardwood flooring in the units
