123-127 Franklin Street Bangor, ME

$1,199,000
Square Footage 13,200
Acres 0.12
Photo of 123-127 Franklin Street Bangor ME 04401




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.


Listed by ERA Dawson-Bradford Co., Stephen Sprague & Catharine Icenogle Baldwin 207-947-6788

Details

MLS 1653941
Status Active
Price $1,199,000
DOM 150 days
Type Commercial
Square Feet 13,200 sqft
Lot Size 0.12 acres
Year Built 1912
Taxes Paid $11,923

Lot & Building Features

Construction Masonry
Cooling Central Air
Heat Source Gas Natural
Heating Gas Natural, Baseboard, Forced Air
Parking Description On Street
Tax Year 2026
Taxes Paid $11,923
Water Public

Room Details

Basement Description Full, Other

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Financing

$
20%
1%
6.75%
$
$
$
per month
Principal & Interest
Monthly Taxes
Monthly HOA
Monthly Home Ins.
Monthly PMI

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