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1 Cumberland Place, Bangor,...

MRM Bangor LLC Acquires Office Building In Bangor, ME For $4.05M
SOLDOffice

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

TC Haffenreffer

The Dunham Group

Broker

$31.6M

vol

3 deals

Broker

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