Mixed-Use Investment
For Sale
Contact for pricing
28 South Main Street, Bangor, PA 18013
Mixed-use building with two street-facing commercial spaces and four 3-bedroom apartments plus additional walk-up fourth-floor space.
Property Size9,221 SF
Price / SF$119.29
Days on Market57
Property Features for 28 South Main Street
General Information
Standard status
Active
Size
9,221 SF
Property subtype
Multifamily, Mixed Use
Zoning
GB
Building Details
Year Built
1907
Tenancy
Multi
Listing Agency:
Galligan Realty Group
(570) 421-2890
Listed By:
Jim Galligan · License #PA RS228072L
Source:
Crexi
Added: Jun 17
Changed: Aug 10
Last Checked: Aug 11 at 12:57PM
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 Galligan Realty Group
Investment Insights
Based on property information with market context.
This mixed-use commercial building includes six income-producing units: two stone-front commercial spaces at street level and four 3-bedroom apartments positioned above. A walk-up fourth floor adds additional usable space that may support further rental opportunities. The property has been maintained with multiple capital improvements, including a new roof installed in 2022, a new natural gas boiler placed in 2025, updated electrical systems, and newer windows throughout.
The building is located at 28 South Main Street and is described as being in the center of Downtown Bangor. It fronts Main Street and is surrounded by local businesses, restaurants, and community events.
For investors or operators seeking a small, diversified income stream, the combination of retail-facing space and residential units can provide practical flexibility. With long-term tenants already in place and recent building upgrades completed, the property may offer a straightforward option for an owner looking to add a mixed-use asset to an existing portfolio or acquire a downtown property with an established operating history.
The building is located at 28 South Main Street and is described as being in the center of Downtown Bangor. It fronts Main Street and is surrounded by local businesses, restaurants, and community events.
For investors or operators seeking a small, diversified income stream, the combination of retail-facing space and residential units can provide practical flexibility. With long-term tenants already in place and recent building upgrades completed, the property may offer a straightforward option for an owner looking to add a mixed-use asset to an existing portfolio or acquire a downtown property with an established operating history.
Key Highlights
- Mixed‑use building in Downtown Bangor with 2 street‑facing Main Street commercial spaces and 4 above‑unit apartments
- Total of 6 income‑producing units: 2 commercial spaces on Main Street plus four spacious 3‑bedroom apartments
- Walk‑up 4th floor offers potential for additional rental units or expanded income opportunities
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$71,415
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,428,300
$1.4M
Cap Rate 7%
$1,020,214
$1.0M
Cap Rate 9%
$793,500
$793.5K
Market Conditions
NOI Build-Up for 9,221 SF
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.
Gross rent
$110.7K $12.00/SF
− Vacancy
−$8.6K −$0.94/SF
EGI
$102.0K $11.06/SF
− OpEx
−$30.6K −$3.32/SF
NOI
$71.4K $7.74/SF
Area
Northampton County, PA
Vacancy
7.80%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,428,300
Cap Rate 7%
$1,020,214
Cap Rate 9%
$793,500
Alternative Uses
Best Use
Retail
$1.02M
$892.7K – $1.19M
NOI $71,415 @ 7.0% cap · market cap 6.49%
Second Best
Apartment 5plus
$801.6K
$701.4K – $935.2K
NOI $56,112 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,425 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Explore this area
Business Placement
Demographics for 18013, PA
17,436
Population
7,401
Households
2.4
Avg Household Size
44
Median Age
24%
College-Educated
89%
High-School Grad
63.0 sq mi
ZIP Area
277
Density / Sq Mi
$76,116
Median Household Income
$37,107
Median Earnings
$1,088
Median Rent
$245,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Mixed-use building with two street-facing commercial spaces and four 3-bedroom apartments plus additional walk-up fourth-floor space.
Where is this apartment building located?
The property is located at 28 South Main Street Bangor, PA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Mixed‑use building in Downtown Bangor with 2 street‑facing Main Street commercial spaces and 4 above‑unit apartments; Total of 6 income‑producing units: 2 commercial spaces on Main Street plus four spacious 3‑bedroom apartments; Walk‑up 4th floor offers potential for additional rental units or expanded income opportunities
