Corner Commercial Land
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 Market82
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: Aug 31 at 3:06PM
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 0.48-acre commercial land parcel comprises three parcels with three existing wood-frame structures. The buildings total 3,709 square feet and are occupied by residential tenants on month-to-month leases. Constructed in 1920, the property includes basement space and is served by public water and public sewer.
The corner site provides 100 feet of frontage along Center Street and 200 feet along Bradman Street. It is situated across from Auburn Mall on Center Street and across from George's Pizza on Bradman Street. The property carries Mixed Use zoning and combines commercial land with existing residential occupancy.
The corner site provides 100 feet of frontage along Center Street and 200 feet along Bradman Street. It is situated across from Auburn Mall on Center Street and across from George's Pizza on Bradman Street. The property carries Mixed Use zoning and combines commercial land with existing residential occupancy.
Key Highlights
- 0.48‑acre corner parcel comprising 3 parcels of commercial land
- Three wood‑frame structures totaling 3,709 square feet
- 100 feet of frontage on Center Street and 200 feet 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
$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
Property Profile
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Mixed-use zoning, public utilities, and three occupied structures define this corner property.
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: 0.48‑acre corner parcel comprising 3 parcels of commercial land; Three wood‑frame structures totaling 3,709 square feet; 100 feet of frontage on Center Street and 200 feet on Bradman Street
