Brick 8-Unit Apartment
72-74 Third Street, Bangor, ME 04401
New
- Added:
- Jun 15, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 16 at 4:06 pm
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
- Walk-Out Access, Finished, Full
- 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
- Heat Pump (Heating), Baseboard, Natural Gas, Electric (Heating), Hot Water(Heating)
- Cooling system
- Heat Pump
- Water source
- Public
Building Details
- Year built
- 1880
- Number of units
- 8
- Flooring type
- Tile, Wood, Vinyl
- Building materials
- Stone, Wood Frame, Brick
- Roof type
- Shingle, Fiberglass, Tar/Gravel
Listing agent Kortnie Mullins (207) 991-4924
Listing office Realty of Maine 458 Main Street, Bangor, ME (207) 942-6310
Listing date Jun 15, 2026
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.
HighLights
- 8‑unit multi‑family building built in 1880 with 5 one‑bedroom, 1 two‑bedroom, and 2 three‑bedroom penthouse‑style units
- 100% occupancy with a strong rental history; rent roll and financials available upon request
- 2019 roof system replacement plus extensive exterior brick repointing
- Upgraded major systems including new plumbing throughout and a complete electrical overhaul with upgraded service entrance
- Each unit features granite‑appointed kitchens with stainless‑steel appliances and custom‑tiled baths
- Off‑street parking area to the rear accommodating all units
Overview
This brick 8-unit apartment building presents five 1-bedroom units, one 2-bedroom unit, and two 3-bedroom penthouse-style apartments. Interior features include original woodwork and period character paired with updated finishes such as granite-appointed kitchens with stainless-steel appliances, custom-tiled baths, solid oak flooring, and newer windows. The property also reflects multiple building system upgrades, including new plumbing throughout, a complete electrical overhaul with an upgraded service entrance, and a full roof system replacement completed in 2019. Extensive repointing of the exterior brick further supports long-term durability.
Located at 72–74 Third Street in Bangor’s urban residential district (Zoning: 14 Urban Res Dist 2), the building benefits from an in-town setting. The property includes a generous off-street parking area to the rear that can accommodate all units, an important practical convenience for residents.
For tenants and operators, the unit mix supports a range of household needs with both smaller and larger layouts represented on-site. The combination of preserved architectural details, updated interiors, and documented system replacements can make the building appealing for an investor or an owner-occupant seeking a manageable, turn-key residential income asset. Rent roll and financials are available upon request.
Located at 72–74 Third Street in Bangor’s urban residential district (Zoning: 14 Urban Res Dist 2), the building benefits from an in-town setting. The property includes a generous off-street parking area to the rear that can accommodate all units, an important practical convenience for residents.
For tenants and operators, the unit mix supports a range of household needs with both smaller and larger layouts represented on-site. The combination of preserved architectural details, updated interiors, and documented system replacements can make the building appealing for an investor or an owner-occupant seeking a manageable, turn-key residential income asset. Rent roll and financials are available upon request.
Local 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 local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Bangor
- County
- Penobscot
- State
- Maine
- Longitude
- -68.7783386
- Latitude
- 44.7982923
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 8-unit apartment building with off-street rear parking and updated systems, offering a mix of 1-, 2-, and 3-bedroom layouts.
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 multi‑family building built in 1880 with 5 one‑bedroom, 1 two‑bedroom, and 2 three‑bedroom penthouse‑style units; 100% occupancy with a strong rental history; rent roll and financials available upon request; 2019 roof system replacement plus extensive exterior brick repointing
