8-Unit Multifamily
For Sale
Contact for pricing
72 3rd St, Bangor, ME 04401
Well-maintained 8-unit multifamily building offered for sale.
Property Size12,418 SF
Price / SF$103.07
Days on Market218
Property Features for 72 3rd St
General Information
Standard status
Active
Size
12,418 SF
Property subtype
Multifamily
Zoning
14 Urban Res Dist 2
Additional Details
Multifamily Units
8
Building Details
Year Built
1880
Buildings
1
Units
8
Listing Agency:
Realty of Maine Bangor
Listed By:
Renee Hudgens · License #BR918538
(207) 991-4926
Source:
Crexi
Added: Mar 25
Changed: Oct 26
Last Checked: Oct 28 at 7:05AM
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 Realty of Maine Bangor
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Investment Insights
Based on property information with market context.
This is an 8-unit multifamily property available for sale. The offering is structured around residential rental income, with eight separate units within the building.
The property is located at 72 3rd St in Bangor, Maine (04401). It is presented as a residential income asset with a current list price of $1,289,900.
With a total property size of 12,418 square feet, the building provides eight units for prospective owners looking for multifamily ownership in Bangor.
The property is located at 72 3rd St in Bangor, Maine (04401). It is presented as a residential income asset with a current list price of $1,289,900.
With a total property size of 12,418 square feet, the building provides eight units for prospective owners looking for multifamily ownership in Bangor.
Key Highlights
- 8‑unit multifamily building
- Year built: 1880
- Public remarks indicate $161,238 per unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$104,670
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,093,400
$2.1M
Cap Rate 7%
$1,495,286
$1.5M
Cap Rate 9%
$1,163,000
$1.2M
Market Conditions
NOI Build-Up for 12,418 SF
Gross rent
$201.2K $16.20/SF
− Vacancy
−$10.9K −$0.87/SF
EGI
$190.3K $15.33/SF
− OpEx
−$85.6K −$6.90/SF
NOI
$104.7K $8.43/SF
Area
Penobscot County, ME
Vacancy
5.40%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,093,400
Cap Rate 7%
$1,495,286
Cap Rate 9%
$1,163,000
Alternative Uses
Best Use
Apartment 5plus
$1.50M
$1.31M – $1.74M
NOI $104,670 @ 7.0% cap · market cap 8.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.01M
$3.51M – $4.68M
NOI $280,746 @ 7.0% cap · market cap 21.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,595
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 8-unit multifamily building offered for sale.
Where is this apartment building located?
The property is located at 72 3rd St Bangor, ME.
What is the asking price?
The asking price for this property is $1,279,900.
What are key features of this property?
This property features: 8‑unit multifamily building; Year built: 1880; Public remarks indicate $161,238 per unit
