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43-49 Main 13,828 SF 64% Leased Office Building Bangor, ME 04401 $1,299,900 ($94.00/SF) 10.91% Cap Rate
INVESTMENT HIGHLIGHTS
- Mixed us - 3 rentals - 6 offices - 2 retail
- Prime Downtown Retail location
- Back parking
EXECUTIVE SUMMARY
Own a piece of historic Downtown Bangor with the Rines Building, a versatile fully occupied commercial 11-unit mixed-use property spanning 43-49 Main Street. This expansive 13,380+ sq. ft. building offers a diverse income stream, featuring retail, office, and residential spaces—perfect for investors or owner-occupants. The first floor features two retail storefronts. One is a 1,540 sq. ft. space currently leased to a gift shop, complete with a kitchenette, half bath, rear offices, and access to a finished basement. The second, a 5,000 sq. ft. storefront, presents an excellent owner-occupied business or investment opportunity. Currently leased to a large toy-store it boasts an elegant mezzanine overlooking the showroom, a break room, kitchen, half bath, and ample storage. The first floor also includes additional rear storage, offices, and full basement access. On the second floor, accessible via a separate entrance, six office suites. A shared bathroom is located off the main hallway, and a rear door provides a second egress to Columbia Street. The third-floor houses three rental units, including two spacious one-bedroom apartments with living rooms, kitchens, dining areas, and bathrooms, all featuring vaulted tin ceilings. The third unit is a cozy efficiency with an open living/dining/kitchen space, plus a separate bedroom and bath. Additional amenities include natural gas heating, on-site coin-operated laundry, and four dedicated parking spaces on Columbia Street. With its prime downtown location, strong rental potential, and mix of commercial and residential spaces, this property is an exceptional investment opportunity.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Building Size
13,828 SF
Building Class
B
Year Built
1871
Price
$1,299,900
Price Per SF
$94.00
Cap Rate
10.91%
NOI
$141,763
Percent Leased
64%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
4,609 SF
Building FAR
1.67
Lot Size
0.19 AC
Zoning
DDD - The Downtown Development District is established to accommodate those retail, service and office uses which are of City-wide or regional significance
Parking
4 Spaces (0.29 Spaces per 1,000 SF Leased)
1 1
Walk Score®
Walker's Paradise (95)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2020 Population
15,453
36,152
49,458
2024 Population
15,775
37,137
50,843
Population Growth '20-'24
2.1%
2.7%
2.8%
2020 Households
7,719
16,745
22,265
2024 Households
7,945
17,315
22,987
Household Growth '20-'24
2.9%
3.4%
3.2%
Average Age
41
43
43
Median Household Income
$39,015
$50,587
$54,916
Daytime Employees
14,378
44,990
52,489
Total Businesses
1,655
5,116
5,923
College Degree + Higher
31%
34%
34%
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $1,094,600 | |
| Land Assessment | $77,800 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,016,800 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$77,800
Improvements Assessment
$1,016,800
Total Assessment
$1,094,600
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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43-49 Main
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