Corner Commercial Land
For Sale
$895,000
553 Center Street, Auburn, ME 04210
Mixed-use zoning accompanies three occupied structures with residential tenants on month-to-month leases.
Property Size3,709 SF
Days on Market386
Property Features for 553 Center Street
General Information
Standard status
Active
Size
3,709 SF
Property subtype
Commercial
Zoning
Mixed Use
Taxes and HOA fees
Annual Taxes
$10,954
Building Details
Building Size
3,709 SF
Year Built
1920
Stories
2
Listing Agency:
Tim Dunham Realty
(207) 407-9707
Listed By:
Timothy Dunham
(207) 407-9707
Source:
Startpoint
Added: Aug 11, 2025
Changed: Aug 28
Last Checked: Aug 28 at 11:28AM
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 commercial land offering comprises three parcels arranged as a corner property, with three existing structures on the site. The buildings are occupied by long-term residential tenants under month-to-month lease arrangements. The property carries Mixed Use zoning and was built in 1920.
The site provides 100 feet of road frontage along Center Street and 200 feet along Bradman Street. It is positioned across from Auburn Mall on Center Street and across from George's Pizza on Bradman Street, providing a defined corner setting with frontage on two roads.
The site provides 100 feet of road frontage along Center Street and 200 feet along Bradman Street. It is positioned across from Auburn Mall on Center Street and across from George's Pizza on Bradman Street, providing a defined corner setting with frontage on two roads.
Key Highlights
- Three commercial land parcels configured as a corner property
- 100 feet of road frontage on Center Street
- 200 feet of road frontage on Bradman Street
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,757
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$695,140
$695.1K
Cap Rate 7%
$496,529
$496.5K
Cap Rate 9%
$386,189
$386.2K
Market Conditions
NOI Build-Up for 3,709 SF
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.
Gross rent
$64.1K $17.28/SF
− Vacancy
−$897 −$0.24/SF
EGI
$63.2K $17.04/SF
− OpEx
−$28.4K −$7.67/SF
NOI
$34.8K $9.37/SF
Area
Androscoggin County, ME
Vacancy
1.40%
Lease Rate
$17.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$695,140
Cap Rate 7%
$496,529
Cap Rate 9%
$386,189
Alternative Uses
Best Use
Apartment 5plus
$496.5K
$434.5K – $579.3K
NOI $34,757 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$6.59M
$5.76M – $7.69M
NOI $461,122 @ 7.0% cap · market cap 51.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Mixed-use zoning accompanies three occupied structures with residential tenants on month-to-month leases.
Where is this commercial land located?
The property is located at 553 Center Street Auburn, ME.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Three commercial land parcels configured as a corner property; 100 feet of road frontage on Center Street; 200 feet of road frontage on Bradman Street
