Mixed-Use Corner
New
For Sale
$699,900
551555 551 & 555 Center St, Auburn, ME 04210
Two existing structures accommodate commercial and residential occupants on month-to-month leases.
Property Size2,384 SF
Price / SF$293.58
Days on Market6
Property Features for 551555 551 & 555 Center St
General Information
Standard status
Active
Size
2,384 SF
Property subtype
Multi-Family
Building Details
Year Built
1920
Listing Agency:
Tim Dunham Realty
Listed By:
Timothy Dunham
(207) 407-9707
Source:
Aroostookrealestate
Added: Oct 1
Last Checked: Oct 6 at 12:07AM
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 Tim Dunham Realty
Investment Insights
Based on property information with market context.
This mixed-use property comprises two commercial land parcels with two structures, currently occupied by commercial and residential tenants under month-to-month leases. The buildings date to 1920, and the property measures 2,384 square feet.
The corner site has 100 feet of road frontage on Center Street and 100 feet on Bradman Street. It sits across from Auburn Mall and opposite George's Pizza.
The corner site has 100 feet of road 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 on a corner lot comprising two commercial land parcels
- Current commercial and residential tenants hold month‑to‑month leases
- 100 feet of frontage on Center Street and 100 feet 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
—
—
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
Current Use
Location Intelligence
Trade Area within ½ mile
67
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two existing structures accommodate commercial and residential occupants on month-to-month leases.
Where is this mixed-use property located?
The property is located at 551555 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 on a corner lot comprising two commercial land parcels; Current commercial and residential tenants hold month‑to‑month leases; 100 feet of frontage on Center Street and 100 feet on Bradman Street
