Commercial Storefront with Flexible
216 Penobscot Ave Millinocket, ME 04462
216 Penobscot Ave, Millinocket, ME, 04462
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For Sale
Contact for pricing
Highly visible storefront on Penobscot Avenue, suited for retail, office, or service businesses.
Property Size1,610 SF
Price / SF$123.60
Days on Market111
Property Features for 216 Penobscot Ave
General Information
- Standard status
- Active
- Size
- 1,610 SF
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1921
Listing agency
Realty of Maine Bangor
(207) 356-9909
Listed by
Sandi Van Syckle · License #017456
Source
Crexi
Added: Apr 2 Updated: Jul 21 at 5:08AM Checked: Jul 21 at 5:08AM
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 Realty of Maine Bangor
Investment Insights
Based on property information with market context.
This commercial storefront offers a flexible layout for retail, office, or service-based use. The property is positioned along Penobscot Avenue in Millinocket, Maine.
The listing describes strong visibility on a main corridor and proximity to Baxter State Park and Katahdin tourism traffic. The property is offered for sale at 216 Penobscot Ave, Millinocket, Maine.
The listing describes strong visibility on a main corridor and proximity to Baxter State Park and Katahdin tourism traffic. The property is offered for sale at 216 Penobscot Ave, Millinocket, Maine.
Key Highlights
- Highly visible commercial storefront at 216 Penobscot Ave in Millinocket, Maine
- Year built: 1921
- Suitable for retail, office, or service‑based businesses
Local Financial Insights For Retail
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 | $23.2k | $14.40 |
| − Vacancy | −$3.9k | −$2.45 |
| EGI | $19.2k | $11.95 |
| − OpEx | −$5.8k | −$3.59 |
| NOI | $13.5k | $8.37 |
1,610 SF · lease $14.40/SF/yr · vacancy 17.00% · expense 30.00%
Alternative Uses
Best Use
Office B
$325.1K
$284.5K – $379.3K
NOI $22,759 @ 7.0% cap · market cap 11.44%
Second Best
Retail
$192.4K
$168.4K – $224.5K
NOI $13,470 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$520.0K
$455.0K – $606.7K
NOI $36,399 @ 7.0% cap · market cap 18.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Harry E Reed ...
Insurance Agency
Similar For Sale Nearby
Similar Off Market Nearby
- Millinocket Floral Shop — 97 Penobscot Ave, Millinocket, ME 04462
FAQs
What type of property is this?
Storefront property - Highly visible storefront on Penobscot Avenue, suited for retail, office, or service businesses.
Where is this storefront property located?
The property is located at 216 Penobscot Ave Millinocket, ME.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Highly visible commercial storefront at 216 Penobscot Ave in Millinocket, Maine; Year built: 1921; Suitable for retail, office, or service‑based businesses
