10-Unit Apartment
50/52/54 Ohio Street, Bangor, ME 04401
For Sale
$939,000
Natural gas heating and electrical and plumbing updates serve this established rental property.
Property Size7,122 SF
Price / SF$131.84
Days on Market164
Property Features for 50/52/54 Ohio Street
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Public Transit
Utilities to Site
Additional Details
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Tenancy
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
(207) 942-6711
Listed By:
Emilie Bronson Blair · License ME #923734
(207) 331-3747
Source:
Integrityhomesrealestategroup
Added: Jun 1
Changed: Nov 11
Last Checked: Nov 11 at 2:21AM
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 Better Homes & Gardens Real Estate/The Masiello Group
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Investment Insights
Based on property information with market context.
This 10-unit apartment property contains 7,122 square feet and dates to 1880. Heating has been converted to natural gas, and electrical and plumbing systems have received multiple updates. Landscaping surrounds the building. Long-term tenants are in place, supported by a history of rental activity.
At 50/52/54 Ohio Street in Bangor, the property is on a bus route and near shopping, downtown, and community services. The zoning designation is M&SD.
At 50/52/54 Ohio Street in Bangor, the property is on a bus route and near shopping, downtown, and community services. The zoning designation is M&SD.
Key Highlights
- 10 apartments totaling 7,122 square feet
- Built in 1880; zoned M&SD
- Natural gas heating conversion, plus electrical and plumbing updates
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,030
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,200,600
$1.2M
Cap Rate 7%
$857,571
$857.6K
Cap Rate 9%
$667,000
$667.0K
Market Conditions
NOI Build-Up for 7,122 SF
Gross rent
$115.4K $16.20/SF
− Vacancy
−$6.2K −$0.87/SF
EGI
$109.1K $15.33/SF
− OpEx
−$49.1K −$6.90/SF
NOI
$60.0K $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%
$1,200,600
Cap Rate 7%
$857,571
Cap Rate 9%
$667,000
Alternative Uses
Best Use
Apartment 5plus
$857.6K
$750.4K – $1.00M
NOI $60,030 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.30M
$2.01M – $2.68M
NOI $161,014 @ 7.0% cap · market cap 17.15%
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
Lease Details
10
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,923
Businesses Nearby
Explore this area
Business Placement
Demographics for 04401, ME
44,608
Population
20,932
Households
2.1
Avg Household Size
40
Median Age
37%
College-Educated
96%
High-School Grad
100.1 sq mi
ZIP Area
446
Density / Sq Mi
$66,136
Median Household Income
$40,863
Median Earnings
$1,048
Median Rent
$229,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Bangor, ME
Properties on Market for Apartment buildings in Bangor
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Natural gas heating and electrical and plumbing updates serve this established rental property.
Where is this apartment building located?
The property is located at 50/52/54 Ohio Street Bangor, ME.
What is the asking price?
The asking price for this property is $939,000.
What are key features of this property?
This property features: 10 apartments totaling 7,122 square feet; Built in 1880; zoned M&SD; Natural gas heating conversion, plus electrical and plumbing updates
