Colonial Triplex with
New
For Sale
$299,000
77 Center Street, Bangor, ME 04401
Multi-Family, Bangor, ME
Property Size2,070 SF
Lot Size0.16 Acres
Price / SF$144.44
Days on Market2
Property Features for 77 Center Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RES
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Basement, Bathroom 1, Bathroom 3
Patio and Porch features
Porch
Basement
Full
Lot features
Well Landscaped, Corner Lot, Level, Intown, Near Shopping
Standard status
Active
Size
2,070 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
25
Tax Annual Amount
4714
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Oil
Water source
Public
Amenities
fireplace
Building Details
Year built
1914
Number of units
3
Flooring type
Wood
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Colonial
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Cash Wiseman · License #BR714470
(207) 553-2663
Added: Sep 20
Last Checked: Sep 21 at 10:06AM
MLS# 1671472
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 three-unit Colonial property at 77 Center Street in Bangor offers 2,070 square feet on a 0.16-acre lot. Built in 1914, the wood-frame building has vinyl siding, wood flooring, a shingle roof, and a porch. A fireplace adds a defined interior feature, while the two-car garage provides enclosed parking or storage.
The property is served by public water and public sewer. Heating is provided by an oil-fired hot water system. Its RES zoning and three-unit configuration support its classification as a residential income property, with the building arranged for multifamily use.
The property is served by public water and public sewer. Heating is provided by an oil-fired hot water system. Its RES zoning and three-unit configuration support its classification as a residential income property, with the building arranged for multifamily use.
Key Highlights
- Three‑unit property with 2,070 square feet
- Two‑car garage for parking or storage
- Built in 1914 with Colonial architecture
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
$18,970
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
6.34%
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%
$379,400
$379.4K
Cap Rate 7%
$271,000
$271.0K
Cap Rate 9%
$210,778
$210.8K
Market Conditions
NOI Build-Up for 2,070 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
$28.6K $13.80/SF
− Vacancy
−$1.5K −$0.71/SF
EGI
$27.1K $13.09/SF
− OpEx
−$8.1K −$3.93/SF
NOI
$19.0K $9.16/SF
Area
Penobscot County, ME
Vacancy
5.13%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$379,400
Cap Rate 7%
$271,000
Cap Rate 9%
$210,778
Alternative Uses
Best Use
Multifamily LT 5
$271.0K
$237.1K – $316.2K
NOI $18,970 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$249.3K
$218.1K – $290.8K
NOI $17,448 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$668.6K
$585.0K – $780.0K
NOI $46,799 @ 7.0% cap · market cap 15.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,122
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
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Frequently Asked Questions
What type of property is this?
Triplex - Wood-frame residential income property with a porch, fireplace, public water, and public sewer.
Where is this triplex located?
The property is located at 77 Center Street Bangor, ME.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Three‑unit property with 2,070 square feet; Two‑car garage for parking or storage; Built in 1914 with Colonial architecture
