Bangor Boarding House
40 2nd Street Bangor, ME 04401
40 2nd Street, Bangor, ME, 04401
$549,999
For Sale
$549,999
COMMERCIAL - Bangor, ME
Property Size3,852 SF
Lot Size0.12 Acres
Price / SF$142.78
Days on Market114
Property Features for 40 2nd Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- 15 Multi Fam & Serv
- Rooms
- Basement
- Parking features
- On Street
- Standard status
- Active
- Size
- 3,852 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 3122
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Heat Pump (Heating), Baseboard
- Cooling system
- Heat Pump
- Water source
- Public
Building Details
- Year built
- 1897
- Flooring type
- Hardwood
- Building materials
- Wood Frame, Aluminum Siding, Vinyl Siding
- Roof type
- Shingle
Listing agency
CENTURY 21 Queen City Real Estate
(207) 942-4618
Listed by
Adam King
(207) 385-6850
Added: Mar 31 Updated: Jun 11 at 2:20PM Checked: Jul 22 at 6:06PM
MLS# 1651834
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.
Located near downtown Bangor, hospitals, public transportation, and major commuter routes, 40 2nd Street is a fully operational 9-room boarding house with 2 private efficiencies. This established income property has a history, structure, and annual inspections in place. The property features three furnished rooms per floor, totaling nine, with shared kitchen and bath access. Additionally, there are two efficiencies with private baths and kitchenettes. Furnishings are included. The month-to-month tenancy model offers flexibility while maintaining consistent occupancy. The property size is 3852 square feet, situated on a 0.12-acre lot. This corridor has supported this use for years. Seller financing may be considered with 25% down; terms negotiable. The zoning is 15 Multi Fam & Serv.
Key Highlights
- Fully operational 9‑room boarding house in Bangor with 2 private efficiencies
- Includes 3 furnished rooms per floor (9 total) with shared kitchen and bath access
- Two efficiencies feature private baths and kitchenettes
Local Financial Insights For Apartment 5plus
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 | $62.4k | $16.20 |
| − Vacancy | −$3.4k | −$0.87 |
| EGI | $59.0k | $15.33 |
| − OpEx | −$26.6k | −$6.90 |
| NOI | $32.5k | $8.43 |
3,852 SF · lease $16.20/SF/yr · vacancy 5.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$463.8K
$405.9K – $541.1K
NOI $32,468 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,086 @ 7.0% cap · market cap 15.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Established income property near downtown Bangor with consistent occupancy.
Where is this apartment building located?
The property is located at 40 2nd Street Bangor, ME.
What is the asking price?
The asking price for this property is $549,999.
What are key features of this property?
This property features: Fully operational 9‑room boarding house in Bangor with 2 private efficiencies; Includes 3 furnished rooms per floor (9 total) with shared kitchen and bath access; Two efficiencies feature private baths and kitchenettes
