123-127 Franklin Street,Bangor, ME 04401
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.
Details
| MLS # | 1653941 |
|---|---|
| Listing Type | For Sale |
| Style | Investment |
| Sub-Type | Resale |
| Status | Active |
| Year | 1912 |
| Days On Site | 203 |
| Listing Provided By | ERA Dawson-Bradford Co. | Stephen Sprague |
Features
| SQ Feet | 13,200 |
|---|---|
| Basement | Y |
| Zoning | 24 Downtown Dev Dist |
| Acreage | 0.12 |
Interior
| Heating Yes / No | Yes |
|---|---|
| Cooling Yes / No | Yes |
| Cooling | Central Air |
Exterior
| Roof | Membrane |
|---|---|
| Foundation Details | Poured Concrete |
| Lot Features | Bus Line, Downtown, Near Shopping, Public Transport Access |
| Construction Materials | Masonry, Brick, Concrete |
| Exterior Co Exterior | Brick, Concrete |
Parking
| Parking Features | On Street |
|---|
Utilities
| Sewer | Public Sewer |
|---|---|
| Electric | Circuit Breakers |
Taxes
| Tax Annual Amount | 11923.27 |
|---|---|
| Tax Book Number | 13716 |
| Tax Year | 2026 |
| Tax Lot | 081 |
| Tax Map Number | 041 |
Area Information
| State | ME |
|---|---|
| County | Penobscot |
| City | Bangor |
| Zip Code | 04401 |
| Area | Penobscot |
| Listing VS Median (in 04401) | |
Price: $1,199,000 low | high Med: $349,900 sqft: 13,200 low | high Med: 1,614 $ / sqft: $91 low | high Med: $220 On site: 203 low | high Med: 67.5 | |
Market Activity 04401
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Learn More About This Property
| State | ME |
|---|---|
| County | Penobscot |
| City | Bangor |
| Zip Code | 04401 |
| Area | Penobscot |
| Listing VS Median (in 04401) | |
Price: $1,199,000 low | high Med: $349,900 sqft: 13,200 low | high Med: 1,614 $ / sqft: $91 low | high Med: $220 On site: 203 low | high Med: 67.5 | |