123-127 Franklin Street, Bangor, ME 04401
sale
$1,239,000
|
Other
Courtesy Of ERA Dawson Bradford Co., Realtors
417 Main Street, Bangor, ME 04401
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 two restaurant spaces, generating an annual NOI near $100,000. 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 | $1,400/month Apartment #2 - 2 Bed / 1 Bath | 900 SF | $1,352/month Apartment #3 - 3 Bed / 1 Bath / 1 Den | 1,000 SF | $1,497.60/month Apartment #4 - 3 Bed / 2 Bath / 1 Den | 1,000 SF | $1,550/month The commercial component includes two restaurant spaces. 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, 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 faade was repaired and repainted using City of Bangor faade grant funds in 2019. As part of the Development District, the property remains eligible for additional faade 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.
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Property Features
- Age: Over 50 Years Old
- Amenities: Basement
- Building Units: 4
- Cooling System: Central Air
- Exterior Type: Masonry
- Exterior Type: Brick
- Exterior Type: Concrete
- Floor Covering: Tile
- Floor Covering: Carpet
- Heating System: Baseboard
- Heating System: Forced Air
- MLSID: 1653941
- Roof Type: Membrane
- Rooms: Basement
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