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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
- Turnkey mixed-use investment, with a robust NOI and stable rental income from a mix of two retail suites, six offices, and three residential units.
- Prime vacant ground-floor retail unit (5,000 square feet) available for immediate owner occupancy or leasing, providing an immediate upside.
- Desirable amenities include natural gas heating, on-site coin-operated laundry facilities, and four parking spaces at the rear of the building.
- Prime Downtown Bangor location visible to more than 11,000 daily vehicles, with walkable access to shopping, dining, and recreation amenities.
- Easily accessible position with proximity to both Highway 2 and 156 and convenient nearby connections for Interstate 95 and 395.
- Strong leasing submarket, with tight vacancies of just 3.1% for office, 3.8% for retail, and 3.2% for multifamily, with stable annual rent growth.
EXECUTIVE SUMMARY
Own a piece of historic Downtown Bangor with the Rines Building, a versatile, income-producing 11-unit commercial mixed-use property located at 43-49 Main Street. Offered 64% leased at a 10.91% Cap Rate, this rare opportunity provides a robust NOI of over $141,000, delivering stable cash flow and substantial growth potential.
This expansive 13,380-square-foot 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-square-foot space currently leased to a toy store, complete with a kitchenette, a half bath, rear offices, and access to a finished basement. The second, a 5,000-square-foot vacant store front, presents an excellent owner-occupied business or value-add leasing opportunity. Previously home to a gift shop for over 40 years, 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, there are six modern 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. Desirable property amenities include natural gas heating, on-site coin-operated laundry, and four dedicated parking spaces on Columbia Street.
The Rines Building enjoys a prominent Downtown location, with frontage to Main Street that can be seen by more than 11,000 passing vehicles each day, providing strong exposure for the retail units. This idyllic location enhances tenant appeal, situated within a walkable urban hub lined with boutique shops, popular restaurants, art galleries, museums, and corporate offices. The property is easily accessible for employees and customers from across the greater region, with convenient proximity to Highways 2 and 156, and nearby connections for Interstate 95 and 395.
Bangor offers attractive demographics within 5 miles of the Rines Building that reinforces the strength of the investment. More than 50,000 residents live in the area, with a daytime workforce of over 52,000 and an average household income that exceeds $76,000. More than 48% of these locals rent their homes, offering stable demand for the property’s multifamily units. Residents of the region also produced collective consumer spending of over $627 million during 2024, providing strong support for retail businesses at the property.
With its prime downtown location, strong rental potential, and mix of commercial and residential spaces, The Rines Building presents an exceptional investment opportunity at the heart of Downtown Bangor. Contact the Realty of Maine team today to schedule a tour and learn more about this incredible offer.
This expansive 13,380-square-foot 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-square-foot space currently leased to a toy store, complete with a kitchenette, a half bath, rear offices, and access to a finished basement. The second, a 5,000-square-foot vacant store front, presents an excellent owner-occupied business or value-add leasing opportunity. Previously home to a gift shop for over 40 years, 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, there are six modern 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. Desirable property amenities include natural gas heating, on-site coin-operated laundry, and four dedicated parking spaces on Columbia Street.
The Rines Building enjoys a prominent Downtown location, with frontage to Main Street that can be seen by more than 11,000 passing vehicles each day, providing strong exposure for the retail units. This idyllic location enhances tenant appeal, situated within a walkable urban hub lined with boutique shops, popular restaurants, art galleries, museums, and corporate offices. The property is easily accessible for employees and customers from across the greater region, with convenient proximity to Highways 2 and 156, and nearby connections for Interstate 95 and 395.
Bangor offers attractive demographics within 5 miles of the Rines Building that reinforces the strength of the investment. More than 50,000 residents live in the area, with a daytime workforce of over 52,000 and an average household income that exceeds $76,000. More than 48% of these locals rent their homes, offering stable demand for the property’s multifamily units. Residents of the region also produced collective consumer spending of over $627 million during 2024, providing strong support for retail businesses at the property.
With its prime downtown location, strong rental potential, and mix of commercial and residential spaces, The Rines Building presents an exceptional investment opportunity at the heart of Downtown Bangor. Contact the Realty of Maine team today to schedule a tour and learn more about this incredible offer.
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 Number | BANG-000042-000000-000108 | Total Assessment | $784,400 |
| Land Assessment | $60,800 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $723,600 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
BANG-000042-000000-000108
Land Assessment
$60,800
Improvements Assessment
$723,600
Total Assessment
$784,400
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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43-49 Main
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