Passive Solar Office
For Sale
$850,000
1570 Broadway, Bangor, ME 04401
Commercial Sale, Bangor, ME
Property Size6,510 SF
Lot Size5.76 Acres
Price / SF$137.76
Days on Market64
Property Features for 1570 Broadway
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
G&ISD
Interior features
Storage
Basement
Crawl Space
Lot features
Near Shopping
Standard status
Active
Size
6,170 SF
Lot size
5.76 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10243
Utilities
Sewer type
Private Sewer, Septic Tank
Heating system
Heat Pump (Heating), Electric (Heating), Propane (Heating), Forced Air, Natural Gas, Solar (Heating)
Cooling system
Heat Pump
Water source
Well, Private
Water front features
Stream
Amenities
conference areas
family room style Great Room
propane fireplace
storage
Building Details
Year built
1979
Number of units
1
Flooring type
Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Berkshire Hathaway HomeServices Northeast Real Estate · Prudential Real Estate
(207) 942-8261
Listed By:
Jan Currier · License #BR210618
(207) 944-6430
Added: Jul 7
Changed: Sep 2
Last Checked: Sep 8 at 3:06PM
MLS# 1511554
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story office and medical building offers a versatile interior with individual office suites, open conference areas, bathrooms on both floors, and storage throughout. The structure was built in 1979 with a passive-solar design intended to support heating, supplemented by heat pumps and a propane fireplace in the great room. Two second-floor fire escapes are also provided.
The property has two entrances and exits and more than 40 parking spaces. It is zoned G&ISD, with the Shopping & Personal Services District located across Broadway. Building and land measurements are reported inconsistently in the property information and are therefore not included.
The property has two entrances and exits and more than 40 parking spaces. It is zoned G&ISD, with the Shopping & Personal Services District located across Broadway. Building and land measurements are reported inconsistently in the property information and are therefore not included.
Key Highlights
- Passive‑solar design with a solar system rated at 40,000+/- Btus
- Two‑story office and medical building with suites, conference areas, and bathrooms on both floors
- More than 40 parking spaces with two entrances and exits
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$71,540
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,430,800
$1.4M
Cap Rate 7%
$1,022,000
$1.0M
Cap Rate 9%
$794,889
$794.9K
Market Conditions
NOI Build-Up for 6,170 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$135.5K $21.96/SF
− Vacancy
−$16.3K −$2.64/SF
EGI
$119.2K $19.32/SF
− OpEx
−$47.7K −$7.73/SF
NOI
$71.5K $11.59/SF
Area
Penobscot County, ME
Vacancy
12.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,430,800
Cap Rate 7%
$1,022,000
Cap Rate 9%
$794,889
Alternative Uses
Best Use
Office B
$1.25M
$1.09M – $1.45M
NOI $87,220 @ 7.0% cap · market cap 10.26%
Second Best
Healthcare Medical
$1.02M
$894.3K – $1.19M
NOI $71,540 @ 7.0% cap · market cap 8.42%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,491 @ 7.0% cap · market cap 16.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Explore this area
Business Placement
Demographics for 04401, ME
44,608
Population
20,932
Households
2.1
Avg Household Size
40
Median Age
37%
College-Educated
96%
High-School Grad
100.1 sq mi
ZIP Area
446
Density / Sq Mi
$66,136
Median Household Income
$40,863
Median Earnings
$1,048
Median Rent
$229,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible office and medical layout with two levels, private suites, conference areas, storage, and on-site parking.
Where is this office building located?
The property is located at 1570 Broadway Bangor, ME.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Passive‑solar design with a solar system rated at 40,000+/- Btus; Two‑story office and medical building with suites, conference areas, and bathrooms on both floors; More than 40 parking spaces with two entrances and exits
