Mixed-Use Property with
For Sale
$450,000
59 Bangor St, Augusta, ME 04330
Current configuration includes a one-bedroom apartment and three office spaces in a 1978 mixed-use property.
Property Size2,756 SF
Price / SF$163.28
Days on Market42
Property Features for 59 Bangor St
General Information
Standard status
Active
Size
2,756 SF
Additional Details
Office Units
3
Building Details
Year Built
1978
Listing Agency:
Hoang Realty
(207) 707-2919
Listed By:
Heidi Witham Hoa Hoang
Source:
Soldbymichaelthomas
Added: Jul 21
Changed: Aug 30
Last Checked: Aug 25 at 5:28AM
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 Hoang Realty
Investment Insights
Based on property information with market context.
Located at 59 Bangor St in Augusta, Maine, this mixed-use property was built in 1978 and is currently configured with a one-bedroom apartment and three office spaces. The existing layout combines residential and office components within the same asset.
The property has historically accommodated office, retail, and residential uses. Its established mix of spaces provides a range of existing configurations for an owner-user, investor, or mixed-use operator, subject to applicable requirements and approvals.
The property has historically accommodated office, retail, and residential uses. Its established mix of spaces provides a range of existing configurations for an owner-user, investor, or mixed-use operator, subject to applicable requirements and approvals.
Key Highlights
- Current layout includes one‑bedroom apartment
- Three office spaces are currently in place
- Historically supported office, retail, and residential uses
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
$38,959
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
8.66%
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%
$779,180
$779.2K
Cap Rate 7%
$556,557
$556.6K
Cap Rate 9%
$432,878
$432.9K
Market Conditions
NOI Build-Up for 2,756 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
$59.5K $21.60/SF
− Vacancy
−$7.6K −$2.75/SF
EGI
$51.9K $18.85/SF
− OpEx
−$13.0K −$4.71/SF
NOI
$39.0K $14.14/SF
Area
Kennebec County, ME
Vacancy
12.74%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$779,180
Cap Rate 7%
$556,557
Cap Rate 9%
$432,878
Alternative Uses
Best Use
Office B
$556.6K
$487.0K – $649.3K
NOI $38,959 @ 7.0% cap · market cap 8.66%
Second Best
Mixed Use
$406.2K
$355.4K – $473.9K
NOI $28,432 @ 7.0% cap · market cap 6.32%
Theoretical Best
Warehouse
$4.11M
$3.60M – $4.80M
NOI $287,818 @ 7.0% cap · market cap 63.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
946
Businesses Nearby
Explore this area
Business Placement
Demographics for 04330, ME
26,322
Population
13,017
Households
2
Avg Household Size
44
Median Age
28%
College-Educated
95%
High-School Grad
116.9 sq mi
ZIP Area
225
Density / Sq Mi
$55,158
Median Household Income
$43,177
Median Earnings
$912
Median Rent
$197,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Current configuration includes a one-bedroom apartment and three office spaces in a 1978 mixed-use property.
Where is this mixed-use property located?
The property is located at 59 Bangor St Augusta, ME.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Current layout includes one‑bedroom apartment; Three office spaces are currently in place; Historically supported office, retail, and residential uses
