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    77 Broadway Bangor, ME 04401

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    Sponsored
    For Sale
    $724,900

    COMMERCIAL - Bangor, ME

    Property size:
    6,030 SF
    Lot size:
    0.05 Acres
    Days on Market:
    9
    Last Refresh:
    Mar 12 at 9:06 pm

    Property Features for 77 Broadway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    M&SD
    Rooms
    Basement
    Basement
    Full
    Size
    6,030 SF
    Lot size
    0.05 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating), Other (Heating)
    Water source
    Public

    Building Details

    Year built
    1834
    Number of units
    5
    Flooring type
    Carpet, Composition
    Building materials
    Brick, Masonry
    Roof type
    Slate, Shingle

    We can help!

    Listing Contact
    Kortnie Mullins

    Realty of Maine (207) 942-6310

    Listing agent Kortnie Mullins (207) 942-6310

    Listing date Mar 3, 2026

    MLS# 1650302

    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.

    Learn more

    Property Insight Report

    Overview

    Iconic Mixed-Use Investment Opportunity

    Located on Bangor's historic Broadway, this five-unit mixed-use property is an iconic 1834 brick double house. The first floor features a commercial office suite with three large offices, one of which includes an original fireplace. The second floor offers a two-bedroom apartment with hardwood floors, a formal dining room with original built-in cabinetry, and three fireplaces. The third floor includes two units: a one-bedroom apartment and an efficiency, both featuring hardwood floors. The fourth floor features a one-bedroom apartment. A natural gas boiler installed in 2012 services the property. The sale includes a second parcel of land on Pine Street, a short walk away, offering approximately 0.11 acres of additional parking. The property is situated within walking distance of downtown Bangor, John Bapst, and various shops, dining options, and amenities. The property offers flexibility for investors or owner-occupants seeking income. The commercial office suite is suitable for professional or small business use. This property presents a live/work or investment opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Contours Hair Salon Richard Mazzei Pa Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bangor
    County
    Penobscot
    State
    Maine
    Longitude
    -68.7675526
    Latitude
    44.8048335

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    FAQs

    What type of property is this?
    Live-work space - Five-unit mixed-use property in historic Bangor location.
    Where is this live-work space located?
    The property is located at 77 Broadway Bangor, ME.
    What is the asking price?
    The asking price for this property is $724,900.
    What are key features of this property?
    This property features: - Rare mixed-use property with commercial and residential units in a historic 1834 brick building.; - Five-unit property offering multiple income streams and live/work potential.; - Includes a second parcel of land on Pine Street for additional parking.
    (207) 991-4924
    Request Owner's contact information
    77 Broadway Bangor, ME 04401
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    Bangor, ME 04401
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    77 Broadway Bangor, ME 04401
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    We can help!
    Listing Contact
    Kortnie Mullins
    (207) 991-4924 (207) 942-6310
    Learn more
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