8-Unit Apartment
New
For Sale
$1,279,900
72-74 Third Street, Bangor, ME 04401
COMMERCIAL - Bangor, ME
Property Size12,418 SF
Lot Size0.21 Acres
Price / SF$103.07
Days on Market4
Property Features for 72-74 Third Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
14 Urban Res Dist 2
Rooms
Basement
Parking features
Off Street
Basement
Finished, Full, Walk-Out Access
Lot features
Public Transport Access, Near Turnpike/ Interstate, Bus Line, Near Shopping
Standard status
Active
Size
12,418 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8080
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard, Natural Gas, Electric (Heating), Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Amenities
granite-appointed kitchens
stainless-steel appliances
custom-tiled baths
solid oak flooring
newer windows
Building Details
Year built
1880
Number of units
8
Flooring type
Wood, Tile, Vinyl
Building materials
Stone, Wood Frame, Brick
Roof type
Shingle, Fiberglass, Tar/Gravel
Listing Agency:
Realty of Maine
(207) 942-6310
Listed By:
Kortnie Mullins
(207) 991-4924
Added: Aug 3
Changed: Aug 4
Last Checked: Aug 6 at 6:06AM
MLS# 1644945
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 8-unit brick apartment building at 72-74 Third Street combines original architectural elements with updated residential finishes. The 12,418-square-foot property includes five one-bedroom apartments, one two-bedroom apartment, and two three-bedroom penthouse-style units. Interiors feature granite kitchens with stainless-steel appliances, tiled bathrooms, solid oak flooring, and newer windows, while original woodwork remains in place. Building improvements include replacement plumbing, an electrical system overhaul with an upgraded service entrance, and extensive brick repointing. The roof system was replaced in 2019.
The 0.21-acre property includes rear off-street parking sized to accommodate all units. Public water and public sewer serve the building, with natural gas, electric, hot water, baseboard, and heat-pump heating systems; heat-pump cooling is also present. Located near downtown Bangor, the property offers walkable access to shops, restaurants, entertainment, public transportation, and employment centers. The building is reported at 100% occupancy and is zoned 14 Urban Res Dist 2.
The 0.21-acre property includes rear off-street parking sized to accommodate all units. Public water and public sewer serve the building, with natural gas, electric, hot water, baseboard, and heat-pump heating systems; heat-pump cooling is also present. Located near downtown Bangor, the property offers walkable access to shops, restaurants, entertainment, public transportation, and employment centers. The building is reported at 100% occupancy and is zoned 14 Urban Res Dist 2.
Key Highlights
- 8‑unit apartment building with five 1‑bedroom, one 2‑bedroom, and two 3‑bedroom units
- 12,418 square feet on 0.21 acres at 72‑74 Third Street, Bangor, ME 04401
- Brick property originally built in 1880 with preserved woodwork and architectural details
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $201.2k | $16.20 |
| − Vacancy | −$10.9k | −$0.87 |
| EGI | $190.3k | $15.33 |
| − OpEx | −$85.6k | −$6.90 |
| NOI | $104.7k | $8.43 |
12,418 SF · lease $16.20/SF/yr · vacancy 5.40% · expense 45.00%
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.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,932
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
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick multifamily property with renovated interiors, upgraded systems, and off-street parking for every apartment.
Where is this apartment building located?
The property is located at 72-74 Third Street 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 apartment building with five 1‑bedroom, one 2‑bedroom, and two 3‑bedroom units; 12,418 square feet on 0.21 acres at 72‑74 Third Street, Bangor, ME 04401; Brick property originally built in 1880 with preserved woodwork and architectural details
