158 Penobscot Avenue, Millinocket, ME 04462
COMMERCIAL - Millinocket, ME
- Added:
- May 8, 2026
- Days on Market:
- 51
- Last Refresh:
- Jun 27 at 5:06 pm
Property Features for 158 Penobscot Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- R4
- Parking features
- Off Street, Other
- Standard status
- Active
- Size
- 1,533 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 1185
Utilities
- Sewer type
- Public Sewer
- Heating system
- Baseboard, Heat Pump (Heating), Electric (Heating)
- Cooling system
- Heat Pump
- Water source
- Public
Building Details
- Year built
- 1925
- Number of units
- 1
- Flooring type
- Tile - Ceramic, Tile
- Building materials
- Masonry, Block
- Roof type
- Flat
Listing agent Bruce Bragdon License #BA913570 (207) 947-3363
Listing office ERA Dawson-Bradford Co. 417 Main Street, Bangor, ME (207) 947-6788
Listing date May 8, 2026
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.
HighLights
- Fully renovated office building with over 1,500 sq. ft. of functional space in downtown Millinocket
- Layout includes a reception area, three private offices, and a kitchen area
- Climate control: six heat pumps plus electric/baseboard heating, with heat pump cooling
- Public utilities including public water and public sewer; flat roof
- Off‑street parking, with public parking directly adjacent and owned by the Town of Millinocket
- Currently occupied on a month‑to‑month triple‑net lease; tenant plans to vacate mid‑2026
Overview
Located on Penobscot Avenue in the downtown Millinocket business district, the property benefits from steady vehicle and pedestrian activity. Convenient public parking is located directly adjacent to the building and is owned by the Town of Millinocket, making access straightforward for employees and visitors.
The current tenant occupies the property under a month-to-month triple-net lease, with the tenant intending to vacate in mid-2026. That timing may suit either an incoming office user looking to establish a presence in a walkable, downtown corridor or a buyer planning to occupy the space themselves after the move-out. The layout’s combination of a reception area and multiple private offices offers flexibility for a range of professional services.
Local Financial Insights For Office B
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 | $33.1k | $21.60 |
| − Vacancy | −$4.2k | −$2.75 |
| EGI | $28.9k | $18.85 |
| − OpEx | −$7.2k | −$4.71 |
| NOI | $21.7k | $14.14 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Millinocket
- County
- Penobscot
- State
- Maine
- Longitude
- -68.7091674
- Latitude
- 45.6559732
