Mixed-Use Corner
For Sale
$699,900
551 & 555 Center St, Auburn, ME 04210
Two buildings accommodate commercial and residential occupants under month-to-month leases.
Property Size2,384 SF
Price / SF$293.58
Days on Market13
Property Features for 551 & 555 Center St
General Information
Standard status
Active
Size
2,384 SF
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Land Use
commercial, residential
Building Details
Year Built
1920
Buildings
2
Listed By:
Doug Schauf · License #BA917314
(207) 838-5593
Source:
Makemaineyourhome
Added: Sep 24
Changed: Oct 1
Last Checked: Oct 5 at 6:31PM
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 Doug Schauf
Investment Insights
Based on property information with market context.
This mixed-use property consists of two structures on a corner parcel formed by two commercial land parcels. The buildings are occupied by commercial and residential tenants, with leases on a month-to-month basis.
The site has 100 feet of frontage on Center Street and 100 feet on Bradman Street. It sits across from Auburn Mall and opposite George’s Pizza.
The site has 100 feet of frontage on Center Street and 100 feet on Bradman Street. It sits across from Auburn Mall and opposite George’s Pizza.
Key Highlights
- Two structures with commercial and residential tenants
- Month‑to‑month lease arrangements
- 100 feet of frontage on Center Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,129
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$562,580
$562.6K
Cap Rate 7%
$401,843
$401.8K
Cap Rate 9%
$312,544
$312.5K
Market Conditions
NOI Build-Up for 2,384 SF
Gross rent
$51.5K $21.60/SF
− Vacancy
−$6.5K −$2.72/SF
EGI
$45.0K $18.88/SF
− OpEx
−$16.9K −$7.08/SF
NOI
$28.1K $11.80/SF
Area
Androscoggin County, ME
Vacancy
12.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$562,580
Cap Rate 7%
$401,843
Cap Rate 9%
$312,544
Alternative Uses
Best Use
Mixed Use
$401.8K
$351.6K – $468.8K
NOI $28,129 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.23M
$3.70M – $4.94M
NOI $296,391 @ 7.0% cap · market cap 42.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
Explore this area
Business Placement
Demographics for 04210, ME
24,061
Population
11,113
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
59.3 sq mi
ZIP Area
406
Density / Sq Mi
$66,552
Median Household Income
$42,624
Median Earnings
$983
Median Rent
$254,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two buildings accommodate commercial and residential occupants under month-to-month leases.
Where is this mixed-use property located?
The property is located at 551 & 555 Center St Auburn, ME.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Two structures with commercial and residential tenants; Month‑to‑month lease arrangements; 100 feet of frontage on Center Street
