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Adam Dow

| The Dow Group | #1 Real Estate Team in New Hampshire

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123127 123-127 Franklin St , Bangor, ME 04401
$1,199,000
Est. Payment: $2,664.44/mo
0 Bed
0 Bath
13200 Sqft
Status: Active | Days on site: 161
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1122 - 019281,018396
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House Description

Exceptional mixed-use investment opportunity in the heart of Downtown Bangor's Development District at 123 & 127 Franklin Street. This well-maintained property features four fully renovated residential apartments and a tavern/restaurant, generating a gross income of near $140,000. The second and third floors offer four versatile apartments with views of downtown Bangor and the nearby public library. Each unit features hardwood floors, large windows providing abundant natural light, and washer and dryer hookups. Renovated between 2015 and 2019, the apartments combine modern updates with classic downtown character. Apartment #1 - 3 Bed / 1 Bath | 800 SF. Apartment #2 - 2 Bed / 1 Bath | 900 SF. Apartment #3 - 3 Bed / 1 Bath / 1 Den | 1,000 SF. Apartment #4 - 3 Bed / 2 Bath / 1 Den | 1,000 SF. The commercial component includes a tavern/restaurant. The lower level is home to the established Benjamin's Pub, a well-known Bangor dining and nightlife destination. The first-floor restaurant and bar space with dining area is currently undergoing cosmetic renovations also currently leased by Benjamins, offering potential for refreshed operations in a highly visible downtown location. Commercial spaces were renovated between 2020 and 2021 and feature updated kitchen suppression systems. Additional improvements include a natural gas furnace installed in 2012. The building façade was repaired and repainted using City of Bangor façade grant funds in 2019. As part of the Development District, the property remains eligible for additional façade grants with up to 50% cost share. With stable mixed-use tenancy, strong residential demand, and a prime downtown location, 123 & 127 Franklin Street presents a compelling investment opportunity in one of Bangor's most active districts.

Highlights

Listed by Stephen Sprague , 207-319-8129 and Catharine Icenogle Baldwin , 207-266-7021 ERA Dawson-Bradford Co. , 207-947-6788.

Property Type

Commercial Sale

Lot/Acreage
0.12

Year Built

1912

County

Penobscot

Listing ID

1653941

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:0
  • Full Bathrooms:
Air Cond:Central Air
Fireplaces:
Floor:Carpet,Tile,Hardwood
Basement:Full
Water:Public

Exterior Features

Lot:Bus Line,Downtown,Near Shopping,Public Transport Access
Zoning:24 Downtown Dev Dist
Roof:Membrane
Sewer:Public Sewer
Parking Features:On Street
Principal Interest
$2,664
Taxes
$994

Home Price

$1,199,000

Loan Details

30 yrs
%

Down Payment

20%
$239,800
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$2,664.44

Principal

Taxes

Principal Taxes HOA Total
Monthly $2,664.44 $993.61 $0.00 $3,658.05
Yearly $31,973.33 $11,923.27 $0.00 $43,896.60
Total $959,200.00 $357,698.10 $0.00 $1,316,898.10

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Bangor, ME).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.