Two-Building Multifamily
80-82 Summer Street, Hampden, ME 04444
For Sale
$299,000
RB-zoned property includes an occupied duplex and a shared driveway.
Property Size2,812 SF
Price / SF$106.33
Days on Market209
Property Features for 80-82 Summer Street
General Information
Standard status
Size
Property subtype
Zoning
Occupancy
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
(207) 942-6711
Listed By:
Sally Bilancia
(207) 745-9173
Source:
Integrityhomesrealestategroup
Added: Apr 17
Changed: Nov 11
Last Checked: Nov 10 at 6:55PM
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 Better Homes & Gardens Real Estate/The Masiello Group
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Investment Insights
Based on property information with market context.
This multifamily property comprises two buildings at 80 Summer Street and 82A–82B Summer Street, including a duplex. The property was built in 1920, and all units are occupied. A shared driveway serves the buildings. The zoning designation is RB.
Key Highlights
- Two‑building multifamily property at 80‑82 Summer Street
- Duplex located at 82A and 82B Summer Street
- All units are currently occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,770
Cap Rate
8.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$515,400
$515.4K
Cap Rate 7%
$368,143
$368.1K
Cap Rate 9%
$286,333
$286.3K
Market Conditions
NOI Build-Up for 2,812 SF
Gross rent
$38.8K $13.80/SF
− Vacancy
−$2.0K −$0.71/SF
EGI
$36.8K $13.09/SF
− OpEx
−$11.0K −$3.93/SF
NOI
$25.8K $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 Rate 5%
$515,400
Cap Rate 7%
$368,143
Cap Rate 9%
$286,333
Alternative Uses
Best Use
Multifamily LT 5
$368.1K
$322.1K – $429.5K
NOI $25,770 @ 7.0% cap · market cap 8.62%
Second Best
Apartment 5plus
$338.6K
$296.3K – $395.0K
NOI $23,702 @ 7.0% cap · market cap 7.93%
Theoretical Best
Office A
$908.2K
$794.7K – $1.06M
NOI $63,574 @ 7.0% cap · market cap 21.26%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
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Business Placement
Demographics for 04444, ME
9,304
Population
3,936
Households
2.4
Avg Household Size
42
Median Age
46%
College-Educated
98%
High-School Grad
69.0 sq mi
ZIP Area
135
Density / Sq Mi
$102,922
Median Household Income
$52,845
Median Earnings
$1,019
Median Rent
$270,900
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Penobscot County, ME
Properties on Market for Multifamily properties in Penobscot County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - RB-zoned property includes an occupied duplex and a shared driveway.
Where is this multifamily property located?
The property is located at 80-82 Summer Street Hampden, 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: Two‑building multifamily property at 80‑82 Summer Street; Duplex located at 82A and 82B Summer Street; All units are currently occupied
