Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    1 #1 Hornbeam Way Bangor, ME 04401

    View on Map
    Claim this Listing
    New
    For Sale
    $62,000

    LAND - Bangor, ME

    Lot size:
    2.06 Acres
    Added:
    May 1, 2026
    Days on Market:
    6
    Last Refresh:
    May 6 at 1:06 pm

    Property Features for 1 #1 Hornbeam Way

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    19 Rural, Res.,& Agr
    Parking features
    Driveway
    Standard status
    Active
    Lot size
    2.06 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    961

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well Needed, Private

    We can help!

    Listing Contact
    Jason Edwards
    Jason Edwards

    Listing agent Jason Edwards

    Listing office EXP Realty 41 Hutchins Drive Building 3, Rangeley, ME

    Listing date May 1, 2026

    MLS# 1620441 Listing URL

    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.

    HighLights

    • Wooded, surveyed lots offer a serene, natural setting, ready for your dream home.
    • Enjoy easy access with newly paved roads.
    • Restrictive covenants are in place to protect property values and neighborhood character.
    • Conveniently located minutes from Bangor's amenities like shopping, dining, schools, and recreation.
    • Private well and septic systems offer independence.
    • Driveway parking available.

    Overview

    Wooded Lots in Bangor, Maine

    Located in Elden Heights, this subdivision offers a limited number of wooded and surveyed lots situated on newly paved roads. The lots provide a setting for residential construction, surrounded by Maine's forests. Restrictive covenants are in place to maintain the neighborhood's character and environment. The location offers a secluded atmosphere with convenient access to Bangor's shopping, dining, schools, and outdoor recreation. With surveyed boundaries and paved access, these lots are ready for construction. The property is zoned for rural, residential, and agricultural use. The lot size is 2.06 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Bangor
    County
    Penobscot
    State
    Maine
    Longitude
    -68.842819
    Latitude
    44.866283

    Nearby Similar for Sale

    • $850,000
      6,170 SF

      Passive Solar Office/Medical Building

      Unique office/medical building with passive solar design and versatile floorplan.
      1570 Broadway, Bangor, ME 04401
      View Details
    • $189,000
      3,444 SF

      Downtown Bangor Commercial Condo

      Historic building with modern amenities in downtown Bangor, Maine.
      74 Hammond Street, Bangor, ME 04401
      View Details
    • $595,000
      5,568 SF

      High-Visibility Commercial Building in Bangor

      Versatile commercial building with high visibility and functional space.
      1567 Hammond Street, Bangor, ME 04401
      View Details
    • $1,199,000
      9,075 SF

      Prime Downtown Bangor Office Building

      Professional office building in Bangor's Downtown Development District.
      9 May Street, Bangor, ME 04401
      View Details
    • $339,900
      2,640 SF

      Well-Maintained Two-Unit Property

      Two-unit property in a sought-after neighborhood with strong income potential.
      8-10 Linden Street, Bangor, ME 04401
      View Details
    • $975,000
      7,422 SF

      Historic Mixed-Use Building in Bangor

      Restored commercial/residential building with Airbnb income and parking.
      133-135 Broadway, Bangor, ME 04401
      View Details
    • $649,900
      6,030 SF

      Historic Mixed-Use Investment Opportunity

      Five-unit property with commercial space and residential apartments in Bangor.
      77 Broadway, Bangor, ME 04401
      View Details
    • $649,900
      6,030 SF

      Historic Mixed-Use Investment Opportunity

      Five-unit property with commercial space and residential apartments in Bangor.
      77 Broadway, Bangor, ME 04401
      View Details
    • $1,600,000
      2,600 SF

      Bangor Multifamily Investment Opportunity

      16-unit apartment building near downtown Bangor.
      74-76 Court Street, Bangor, ME 04401
      View Details
    • $214,000
      2,014 SF

      Downtown Bangor Commercial Condo

      2,014 SF office condo in downtown Bangor.
      115 Franklin Street, Bangor, ME 04401
      View Details
    • $1,289,900
      12,418 SF

      Bangor Multifamily Investment Opportunity

      Eight-unit multifamily property in Bangor's historic heart with modern upgrades.
      72-74 Third Street, Bangor, ME 04401
      View Details
    • $1,289,900
      12,418 SF

      Bangor Multifamily Investment Opportunity

      Eight-unit multifamily property in historic Bangor with modern upgrades.
      72-74 Third Street, Bangor, ME 04401
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Serene wooded lots near Bangor's amenities, ready for building.
    Where is this residential land & home lot located?
    The property is located at 1 #1 Hornbeam Way Bangor, ME.
    What is the asking price?
    The asking price for this property is $62,000.
    What are key features of this property?
    This property features: Wooded, surveyed lots offer a serene, natural setting, ready for your dream home.; Enjoy easy access with newly paved roads.; Restrictive covenants are in place to protect property values and neighborhood character.
    (207) 356-8206
    We can help!
    Listing Contact
    Jason Edwards
    Jason Edwards
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1 (#1) Hornbeam Way, Bangor, ME 04401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!