MRM Bangor LLC Acquires Office Building In Bangor, ME For $4.05M
1 Cumberland Place, Bangor, Maine 04401, United States
$4,050,000
$100/SF
Building Size
40,200 SF
Asset Type
Office
Closing
Feb 6, 2022
AI
MRM Bangor LLC has purchased an office property located at 1 Cumberland Place in Bangor, ME. The transaction was facilitated by brokers TC Haffenreffer and Sylas Hatch of Dunham Group. The sale price for the property was $4,050,000, with a total square footage of 40,200. The price per square foot was calculated at $101.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $4,050,000
- Address: 1 Cumberland Place, Bangor, ME
- Market: Bangor, ME
TC Haffenreffer and Sylas Hatch from Dunham Group represented the buyer, MRM Bangor LLC, and One Cumberland Place LLC acted as the seller in this transaction.
Players
Bangor Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.92%
Cash-on-Cash
-1.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93