Historic Downtown Mixed-Use
For Sale
$2,700,000
158 Main Street, Bangor, ME 04401
Commercial Sale, Bangor, ME
Property Size22,000 SF
Lot Size0.30 Acres
Price / SF$122.73
Days on Market100
Property Features for 158 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Downtown Development
Rooms
Basement
Parking features
Off Street
Basement
Unfinished, Finished
Lot features
Water View, Public Transport Access, Near Turnpike/ Interstate, Near Airport, Downtown, Bus Line, Near Shopping, Retail Strip
Standard status
Active
Size
22,000 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
8961
Utilities
Sewer type
Public Sewer
Heating system
Propane (Heating), Oil
Water source
Public
Building Details
Year built
1900
Flooring type
Wood, Vinyl, Linoleum, Concrete, Tile - Ceramic
Building materials
Masonry, Stone, Wood Frame, Brick, Vinyl Siding, Wood Siding
Roof type
Flat
Listing Agency:
CENTURY 21 Queen City Real Estate · Century 21 Real Estate
(207) 942-4618
Listed By:
Estrella Ruiz
(207) 249-6214
Added: Jun 29
Changed: Sep 13
Last Checked: Oct 6 at 5:06PM
MLS# 1669296
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.
Built in 1900, this four-floor mixed-use building contains 22,000 square feet in a masonry, stone, wood-frame, brick, and siding structure. Current occupants and uses include a tavern, a dance and ballet studio, and six one-bedroom apartments with two shared bathrooms. The property also includes a basement, flat roof, off-street parking, and a combination of oil and propane heating.
Located at 158 Main Street in downtown Bangor, the building is within the Downtown Development District and benefits from exposure to more than 10,000 vehicles daily. Public water and sewer serve the property. A downtown mural and the HOPEFUL sign are identified as prominent features associated with the building and its surroundings.
Located at 158 Main Street in downtown Bangor, the building is within the Downtown Development District and benefits from exposure to more than 10,000 vehicles daily. Public water and sewer serve the property. A downtown mural and the HOPEFUL sign are identified as prominent features associated with the building and its surroundings.
Key Highlights
- 22,000‑square‑foot mixed‑use building on 0.3 acres
- Four floors with a tavern, dance and ballet studio, and six one‑bedroom apartments
- Apartments include two shared bathrooms and were 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
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?
Mixed-use property - Four-floor property combines commercial space, apartments, and established public water and sewer service.
Where is this mixed-use property 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: 22,000‑square‑foot mixed‑use building on 0.3 acres; Four floors with a tavern, dance and ballet studio, and six one‑bedroom apartments; Apartments include two shared bathrooms and were previously operated as a rooming house
