Corner Lot Mixed-Use
For Sale
$895,000
553 Center Street, Auburn, ME 04210
Commercial Sale, Auburn, ME
Property Size3,709 SF
Lot Size0.48 Acres
Price / SF$241.30
Days on Market92
Property Features for 553 Center Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed Use
Rooms
Basement
Basement
Full
Lot features
Business District, Retail Strip, Shopping Mall
Standard status
Active
Size
3,709 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10955
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1920
Building materials
Wood Frame
Listing Agency:
Tim Dunham Realty
(207) 729-7297
Listed By:
Timothy Dunham
(207) 407-9707
Added: Jun 11
Changed: Aug 19
Last Checked: Sep 10 at 8:06PM
MLS# 1633924
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 three commercial-land parcels with three wood-frame structures totaling 3,709 square feet. Built in 1920, the buildings are currently occupied by long-term residential tenants under month-to-month leases. The property includes basement space, public water, and public sewer service.
Positioned at the corner of Center Street and Bradman Street in Auburn, the site provides 100 feet of frontage along Center Street and 200 feet along Bradman Street. It is across from Auburn Mall and George's Pizza, respectively. The 0.48-acre property is zoned Mixed Use and is identified as 553 Center Street, Auburn, ME 04210.
Positioned at the corner of Center Street and Bradman Street in Auburn, the site provides 100 feet of frontage along Center Street and 200 feet along Bradman Street. It is across from Auburn Mall and George's Pizza, respectively. The 0.48-acre property is zoned Mixed Use and is identified as 553 Center Street, Auburn, ME 04210.
Key Highlights
- Three wood‑frame structures totaling 3,709 square feet
- Three parcels comprising a 0.48‑acre mixed‑use property
- 100' of road frontage on Center 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
$43,762
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
4.89%
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%
$875,240
$875.2K
Cap Rate 7%
$625,171
$625.2K
Cap Rate 9%
$486,244
$486.2K
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
$80.1K $21.60/SF
− Vacancy
−$10.1K −$2.72/SF
EGI
$70.0K $18.88/SF
− OpEx
−$26.3K −$7.08/SF
NOI
$43.8K $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 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%
$875,240
Cap Rate 7%
$625,171
Cap Rate 9%
$486,244
Alternative Uses
Best Use
Mixed Use
$625.2K
$547.0K – $729.4K
NOI $43,762 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$496.5K
$434.5K – $579.3K
NOI $34,757 @ 7.0% cap · market cap 3.88%
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
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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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use zoning supports a three-structure property with existing month-to-month residential occupancy.
Where is this mixed-use property 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 wood‑frame structures totaling 3,709 square feet; Three parcels comprising a 0.48‑acre mixed‑use property; 100' of road frontage on Center Street
