Historic Bed &
132 Second Street, Hallowell, ME 04347
For Sale
$650,000
Six guest rooms and a separate apartment support a hospitality operation in downtown Hallowell.
Property Size2,628 SF
Price / SF$247.34
Days on Market27
Property Features for 132 Second Street
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
fitness space
wood-lined sauna
laundry facilities
dining and gathering area
Storage
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Pouliot Real Estate
(207) 248-6044
Listed By:
Matthew Pouliot
(207) 441-9418
Source:
Hayesrealestate
Added: Oct 14
Changed: Nov 8
Last Checked: Nov 8 at 5:36PM
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 Pouliot Real Estate
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Investment Insights
Based on property information with market context.
Built in 1900, this 2,628-square-foot bed and breakfast has six guest rooms and a full apartment, with a history of rental use. Interior details include exposed beams, wood ceilings, brick accents, and wood flooring. Guest rooms have adjoining bathrooms, and the main kitchen features stainless steel appliances, dark cabinetry, and an apron-front sink. A shared dining and gathering room serves the guest accommodations.
The apartment occupies the top floor and includes a kitchen, living room, bedroom, bathroom, and private balcony overlooking the Kennebec River. On the lower level, fitness space, a sauna, bathrooms, and laundry provide additional facilities. The property also has paved parking, a metal roof, solar panels, and multiple heat pumps.
Situated on Second Street in downtown Hallowell, the property is near restaurants, shops, galleries, and the Kennebec River waterfront. Zoning is Residential 1.
The apartment occupies the top floor and includes a kitchen, living room, bedroom, bathroom, and private balcony overlooking the Kennebec River. On the lower level, fitness space, a sauna, bathrooms, and laundry provide additional facilities. The property also has paved parking, a metal roof, solar panels, and multiple heat pumps.
Situated on Second Street in downtown Hallowell, the property is near restaurants, shops, galleries, and the Kennebec River waterfront. Zoning is Residential 1.
Key Highlights
- Six guest rooms plus a full apartment; established rental history
- 2,628 square feet; built in 1900
- Top‑floor apartment with private balcony and Kennebec River views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,601
Cap Rate
3.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$512,020
$512.0K
Cap Rate 7%
$365,729
$365.7K
Cap Rate 9%
$284,456
$284.5K
Market Conditions
NOI Build-Up for 2,628 SF
Gross rent
$47.3K $18.00/SF
− Vacancy
−$757 −$0.29/SF
EGI
$46.5K $17.71/SF
− OpEx
−$20.9K −$7.97/SF
NOI
$25.6K $9.74/SF
Area
Kennebec County, ME
Vacancy
1.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$512,020
Cap Rate 7%
$365,729
Cap Rate 9%
$284,456
Alternative Uses
Best Use
Apartment 5plus
$365.7K
$320.0K – $426.7K
NOI $25,601 @ 7.0% cap · market cap 3.94%
Second Best
Hotel Hospitality
$227.4K
$199.0K – $265.3K
NOI $15,916 @ 7.0% cap · market cap 2.45%
Theoretical Best
Office A
$746.9K
$653.6K – $871.4K
NOI $52,284 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
309
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 04347, ME
2,570
Population
1,436
Households
1.8
Avg Household Size
51
Median Age
46%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
436
Density / Sq Mi
$58,811
Median Household Income
$37,027
Median Earnings
$830
Median Rent
$266,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Six guest rooms and a separate apartment support a hospitality operation in downtown Hallowell.
Where is this bed & breakfast located?
The property is located at 132 Second Street Hallowell, ME.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Six guest rooms plus a full apartment; established rental history; 2,628 square feet; built in 1900; Top‑floor apartment with private balcony and Kennebec River views
