6 & 10 Water Street, Bangor, ME 04401

Listing Agency: The Dunham Group

Listed By: TC Haffenreffer · License ME SA918905 Show Phone

Source: Crexi

Added: Oct 20 Changed: Nov 8 Last Checked: Nov 10 at 6:00AM

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Investment Insights

Based on property information with market context.

This 12-unit property occupies a wing of the historic Freese’s Building in downtown Bangor. Its mix includes 10 market-rate apartments and two commercial suites on the ground floor. The property is condominiumized with Freese’s Assisted Living and the Maine Discovery (Children’s) Museum.

Recent building work added HVAC and domestic hot water systems, along with electrical metering at the unit level.

Key Highlights

• 12 units: 10 market‑rate apartments and 2 ground‑floor commercial suites
• Located in a wing of the historic Freese’s Building in downtown Bangor
• Recent HVAC and domestic hot water system upgrades

Property Analytics

Current Use

Bangin' Whoopie Cafe & Coffee Shop

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Garden Center Catering Service Cosmetic Store Pet Store & Service Mobile Phone Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

10

Residential units

Location Intelligence

Trade Area within ½ mile

2,106

Businesses Nearby

Explore this area Business Placement

Demographics for 04401, ME

44,608

Population

20,932

Households

2.1

Avg Household Size

40

Median Age

37%

College-Educated

96%

High-School Grad

100.1 sq mi

ZIP Area

446

Density / Sq Mi

$66,136

Median Household Income

$40,863

Median Earnings

$1,048

Median Rent

$229,600

Median Home Value

Market

Average Price Trend$/SF for Mixed-use properties in Penobscot County, ME

$106 Jul

$106 Aug

$105 Sep

$115 Oct

Properties on Market for Mixed-use properties in Penobscot County

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Combines market-rate apartments and ground-floor commercial suites in downtown Bangor.

Where is this mixed-use property located?

The property is located at 6 & 10 Water Street Bangor, ME.

What is the asking price?

The asking price for this property is $2,195,000.

What are key features of this property?

This property features: 12 units: 10 market‑rate apartments and 2 ground‑floor commercial suites; Located in a wing of the historic Freese’s Building in downtown Bangor; Recent HVAC and domestic hot water system upgrades