Corner Mixed-Use
New
For Sale
$699,900
555 Center Street, Auburn, ME 04210
Multi-Family, Auburn, ME
Property Size2,384 SF
Lot Size0.23 Acres
Price / SF$293.58
Days on Market5
Property Features for 555 Center Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
General Commercial
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Basement, Bathroom 2, Bathroom 3
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
Oil, Baseboard, Hot Water(Heating)
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
Last Checked: Sep 26 at 1:06PM
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 totaling 2,384 square feet on a 0.23-acre corner parcel made up of two commercial land lots. The buildings date to 1920 and include a ranch-style layout, wood-frame construction, shingle roofing, basement space, and three bathrooms. Public water and public sewer serve the property, with baseboard hot-water heating fueled by oil.
Existing commercial and residential tenants occupy the structures under month-to-month leases. The site provides 100 feet of frontage along Center Street and another 100 feet along Bradman Street. It is positioned across from Auburn Mall and opposite George's Pizza, providing identifiable commercial context at both street edges. General Commercial zoning supports the property's mixed-use profile.
Existing commercial and residential tenants occupy the structures under month-to-month leases. The site provides 100 feet of frontage along Center Street and another 100 feet along Bradman Street. It is positioned across from Auburn Mall and opposite George's Pizza, providing identifiable commercial context at both street edges. General Commercial zoning supports the property's mixed-use profile.
Key Highlights
- 2,384 SF mixed‑use property on 0.23 acres
- Two structures with existing commercial and residential tenants
- 100 feet of frontage on Center Street and 100 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
$28,129
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
4.02%
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%
$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
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
$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 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%
$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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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two occupied structures combine commercial and residential tenancy on a general commercial corner site.
Where is this mixed-use property located?
The property is located at 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: 2,384 SF mixed‑use property on 0.23 acres; Two structures with existing commercial and residential tenants; 100 feet of frontage on Center Street and 100 feet on Bradman Street
