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    Well-Maintained 10-Unit Apartment Building Title is generated by Realmo AI

    52 Ohio Street, Bangor, ME 04401

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    New
    For Sale
    $939,000

    Ten-unit multifamily property with updated mechanicals and long-term tenants, offering stable rental income potential.

    Type:Multi-Family
    Property size:
    7,122 SF
    Price / SF:
    $131/SF
    Added:
    May 31, 2026
    Days on Market:
    7
    Last Refresh:
    Jun 6 at 2:43 am

    Property Features for 52 Ohio Street

    General Information

    Standard status
    Active
    Size
    7,122 SF
    Property subtype
    Multi-Family

    Building Details

    Year Built
    1880

    We can help!

    Listing Contact
    Emilie Bronson Blair

    Listing agent Emilie Bronson Blair

    Listing office Better Homes & Gardens Real Estate/The Masiello Group

    Listing date May 31, 2026

    Source Compass

    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

    HighLights

    • 10‑unit apartment building with long‑term tenants in place
    • Heating converted to natural gas; heating included via gas natural and radiator
    • Many electrical and plumbing updates reported
    • 3‑story wood‑frame building with vinyl siding and shingle roof
    • Full basement with interior and doghouse basement entry
    • Window unit cooling; hardwood and tile flooring

    Overview

    This well-maintained 10-unit apartment building is configured as a residential income property with attractive landscaping and curb appeal. The heating system has been converted to natural gas, and the property has seen many electrical and plumbing updates, supporting a solid foundation for continued operations.

    The building is located in a central area and sits on a bus route, with convenience to shopping, downtown, and community services.

    For buyers seeking a small multifamily asset, the existing long-term tenants in place and the building’s update history may be attractive from a continuity standpoint. This is a turn-key style opportunity focused on ownership of a maintained 10-unit building rather than a value-add concept, based on the information provided.

    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 $115.4k $16.20
    − Vacancy −$6.2k −$0.87
    EGI $109.1k $15.33
    − OpEx −$49.1k −$6.90
    NOI $60.0k $8.43
    7,122 SF · lease $16.20/SF/yr · vacancy 5.40% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $857.6K
    $750.4K – $1.00M (±1% cap)
    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 (±1% cap)
    NOI $161,014 @ 7.0% cap · market cap 17.15%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bangor
    County
    Penobscot
    State
    Maine
    Longitude
    -68.7774193
    Latitude
    44.802265

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    FAQs

    What type of property is this?
    Apartment building - Ten-unit multifamily property with updated mechanicals and long-term tenants, offering stable rental income potential.
    Where is this apartment building located?
    The property is located at 52 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‑unit apartment building with long‑term tenants in place; Heating converted to natural gas; heating included via gas natural and radiator; Many electrical and plumbing updates reported
    (207) 331-3747
    We can help!
    Listing Contact
    Emilie Bronson Blair
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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