Historic Mixed-Use Downtown
For Sale
$2,700,000
158 Main Street, Bangor, ME 04401
Four-floor mixed-use building includes an established tavern, a dance and ballet studio, and six one-bedroom apartments.
Property Size22,000 SF
Price / SF$122.73
Days on Market120
Property Features for 158 Main Street
General Information
Standard status
Active
Size
22,000 SF
Property subtype
Commercial
Lease Term
[]
Additional Details
Traffic Count
30,000 vehicles/day
Multifamily Units
6
Amenities
32 - 36 Inch Doors
Building Details
Year Built
1900
Stories
4
Tenancy
Multi
Listing Agency:
CENTURY 21 Queen City Real Estate
Listed By:
Estrella Ruiz
(207) 249-6214
Source:
Portsiderealestategroup
Added: Jun 15
Changed: Oct 11
Last Checked: Oct 11 at 9:24AM
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 CENTURY 21 Queen City Real Estate
Investment Insights
Based on property information with market context.
The McGuire Building is a historic four-floor, mixed-use commercial property offered for sale. The building includes the iconic Tavern, a well-established dance and ballet studio, and six one-bedroom apartments. The apartments share two bathrooms and were previously operated as a rooming house.
Located in the heart of downtown Bangor at 158 Main Street, the property benefits from strong visibility and exposure to more than 30,000 vehicles daily. The site is within Bangor’s Downtown Development District.
With multiple income-producing components already in place, the building’s configuration supports a range of continued commercial and residential uses under its existing layout. The property also features prominent downtown landmark presence, including an existing view of the Penobscot River and nearby recognizable visual elements referenced in the remarks.
Located in the heart of downtown Bangor at 158 Main Street, the property benefits from strong visibility and exposure to more than 30,000 vehicles daily. The site is within Bangor’s Downtown Development District.
With multiple income-producing components already in place, the building’s configuration supports a range of continued commercial and residential uses under its existing layout. The property also features prominent downtown landmark presence, including an existing view of the Penobscot River and nearby recognizable visual elements referenced in the remarks.
Key Highlights
- Approx. 22,000 SF four‑floor mixed‑use commercial building at 158 Main Street in downtown Bangor
- Established tavern plus a dance and ballet studio within the building
- Six 1‑bedroom apartments with two shared bathrooms (previously operated as a rooming house)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$185,435
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,708,700
$3.7M
Cap Rate 7%
$2,649,071
$2.6M
Cap Rate 9%
$2,060,389
$2.1M
Market Conditions
NOI Build-Up for 22,000 SF
Gross rent
$356.4K $16.20/SF
− Vacancy
−$19.2K −$0.87/SF
EGI
$337.2K $15.33/SF
− OpEx
−$151.7K −$6.90/SF
NOI
$185.4K $8.43/SF
Area
Penobscot County, ME
Vacancy
5.40%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,708,700
Cap Rate 7%
$2,649,071
Cap Rate 9%
$2,060,389
Alternative Uses
Best Use
Specialty Retail
$4.28M
$3.75M – $5.00M
NOI $299,701 @ 7.0% cap · market cap 11.10%
Second Best
Apartment 5plus
$2.65M
$2.32M – $3.09M
NOI $185,435 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$7.11M
$6.22M – $8.29M
NOI $497,376 @ 7.0% cap · market cap 18.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
30,000 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,106
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
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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?
Apartment building - Four-floor mixed-use building includes an established tavern, a dance and ballet studio, and six one-bedroom apartments.
Where is this apartment building located?
The property is located at 158 Main Street Bangor, ME.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Approx. 22,000 SF four‑floor mixed‑use commercial building at 158 Main Street in downtown Bangor; Established tavern plus a dance and ballet studio within the building; Six 1‑bedroom apartments with two shared bathrooms (previously operated as a rooming house)
