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
About this deal
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.
On the Map
$4,050,000
$100/SF
Office
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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