Two-Building Mixed-Use
For Sale
$699,900
551 & 555 Center Street, Auburn, ME 04210
Multi-Family, Auburn, ME
Property Size2,384 SF
Lot Size0.23 Acres
Price / SF$293.58
Days on Market15
Property Features for 551 & 555 Center Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
General Commercial
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 1, Bathroom 3, Bathroom 2
Basement
Full
Lot features
Well Landscaped, Open, Corner Lot, Level, Sidewalks, Near Shopping
Standard status
Active
Size
2,384 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3805
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating), Oil
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
3
Building materials
Wood Frame, Other Exterior
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
Tim Dunham Realty
(207) 729-7297
Listed By:
Timothy Dunham
(207) 407-9707
Added: Sep 22
Changed: Sep 30
Last Checked: Oct 6 at 2:06AM
MLS# 1681642
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.
This mixed-use property comprises two structures on a 0.23-acre corner site formed by two commercial parcels. The buildings total 2,384 square feet and are occupied by commercial and residential tenants under month-to-month leases. General Commercial zoning applies.
The site has 100 feet of frontage along Center Street and another 100 feet along Bradman Street. It sits opposite Auburn Mall on Center Street and across from George's Pizza on Bradman Street.
The site has 100 feet of frontage along Center Street and another 100 feet along Bradman Street. It sits opposite Auburn Mall on Center Street and across from George's Pizza on Bradman Street.
Key Highlights
- Two structures totaling 2,384 square feet
- 0.23‑acre corner property consisting of two commercial parcels
- 100' of road frontage on Center Street and 100' on Bradman 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
Apartment 5plus
$319.1K
$279.3K – $372.3K
NOI $22,340 @ 7.0% cap · market cap 3.19%
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
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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
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial and residential occupants hold month-to-month leases across the two structures.
Where is this mixed-use property located?
The property is located at 551 & 555 Center Street 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 totaling 2,384 square feet; 0.23‑acre corner property consisting of two commercial parcels; 100' of road frontage on Center Street and 100' on Bradman Street
