Mixed-Use Building with
2 Western Avenue, Hampden, ME 04444
For Sale
$524,000
A ground-floor salon and upper-level apartments combine commercial space with residential use in a Town Center-zoned property.
Property Size3,968 SF
Price / SF$132.06
Days on Market621
Property Features for 2 Western Avenue
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Public Transit
Mixed-Use Components
Additional Details
Business Included
Currently Operating
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
NextHome Experience
(207) 573-7400
Listed By:
Christina Patin
(207) 356-3913
Source:
Integrityhomesrealestategroup
Added: Mar 1, 2025
Changed: Nov 11
Last Checked: Nov 11 at 2:08AM
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 NextHome Experience
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Investment Insights
Based on property information with market context.
This 3,968-square-foot mixed-use building dates to 1890 and has a salon on the ground floor with apartments above. The salon includes equipped workstations, while the upper level provides separate residential space. The property is zoned Town Center.
Located at 2 Western Avenue in Hampden, the building is near shops, restaurants, and public transportation. Its commercial and residential components bring both uses together within one property.
Located at 2 Western Avenue in Hampden, the building is near shops, restaurants, and public transportation. Its commercial and residential components bring both uses together within one property.
Key Highlights
- 3,968‑square‑foot mixed‑use building
- Ground‑floor salon with equipped workstations
- Apartments occupy the second floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,446
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$668,920
$668.9K
Cap Rate 7%
$477,800
$477.8K
Cap Rate 9%
$371,622
$371.6K
Market Conditions
NOI Build-Up for 3,968 SF
Gross rent
$64.3K $16.20/SF
− Vacancy
−$3.5K −$0.87/SF
EGI
$60.8K $15.33/SF
− OpEx
−$27.4K −$6.90/SF
NOI
$33.4K $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%
$668,920
Cap Rate 7%
$477,800
Cap Rate 9%
$371,622
Alternative Uses
Best Use
Apartment 5plus
$477.8K
$418.1K – $557.4K
NOI $33,446 @ 7.0% cap · market cap 6.38%
Second Best
Retail
$474.3K
$415.0K – $553.3K
NOI $33,198 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,709 @ 7.0% cap · market cap 17.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Explore this area
Business Placement
Demographics for 04444, ME
9,304
Population
3,936
Households
2.4
Avg Household Size
42
Median Age
46%
College-Educated
98%
High-School Grad
69.0 sq mi
ZIP Area
135
Density / Sq Mi
$102,922
Median Household Income
$52,845
Median Earnings
$1,019
Median Rent
$270,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Penobscot County, ME
Properties on Market for Mixed-use properties in Penobscot County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A ground-floor salon and upper-level apartments combine commercial space with residential use in a Town Center-zoned property.
Where is this mixed-use property located?
The property is located at 2 Western Avenue Hampden, ME.
What is the asking price?
The asking price for this property is $524,000.
What are key features of this property?
This property features: 3,968‑square‑foot mixed‑use building; Ground‑floor salon with equipped workstations; Apartments occupy the second floor
