Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1600 Union St Bangor, ME 04401

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $4,999,999

    125 Acres, Mixed-Use Potential, Prime Location

    Property size:
    14,754 SF

    Property Features for 1600 Union St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    14,754 SF
    Lot Size
    5,461,117 SF

    We can help!

    Listing Contact
    Philip Adams Jr

    Listing Agency: Adams Real Estate Listing Agent: Philip Adams Jr

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 125.37-acre parcel presents a rare development opportunity in Bangor, Maine. Strategically located on the heavily trafficked Route 222 corridor (10,160 daily traffic count), this property boasts unparalleled visibility and accessibility. Its proximity to I-295 (2 miles) and Bangor International Airport (1000 feet) further enhances its desirability. The level land is ready for immediate development, offering significant potential for a mixed-use project encompassing retail, industrial, commercial, and residential components. The sale includes six contiguous properties (1350, 1358, 1372, 1380, 1414, and 1600 Union Street), totaling 125.37 acres. Existing structures on the property include a 3,614 square foot industrial shop, an 8,140 square foot retail store, and two residential homes (1,000 and 2,000 square feet). This substantial landholding offers a unique chance to create a thriving development in a vibrant city with a rich history and strong community. The combined square footage of the existing buildings is 14,754 square feet. The property's location in the northwest section of Union Street and Griffin Road, within the Queen Cities of Bangor and Brewer, ensures high visibility and convenient access for businesses and residents alike. Don't miss this chance to acquire a truly exceptional development opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Auto Repair Shop Hair Salon Gym & Fitness Center Pharmacy Department Store Food Market Storage Facility HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Bangor
    County
    Penobscot
    State
    Maine
    Longitude
    -68.82687
    Latitude
    44.82441

    Nearby Similar for Sale

    • $475,000
      1,062 SF

      Updated Mixed-Use Property on Broadway

      High-visibility, mixed-use property with live/work functionality and modern amenities.
      546 Broadway, Bangor, ME 04401
      View Details
    • $189,000
      3,444 SF

      Downtown Bangor Office Condo

      Historic office condo with rental income potential in downtown Bangor.
      74 Hammond St, Bangor, ME 04401
      View Details
    • $595,000
      5,568 SF

      Bangor Commercial Building with Visibility

      Commercial building with high visibility, functional space, and pylon sign.
      1567 Hammond St, 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 St, Bangor, ME 04401
      View Details
    • $219,000
      2,014 SF

      Downtown Bangor Commercial Condo

      2,014 SF commercial condo in downtown Bangor.
      115 Franklin St Unit, Bangor, ME 04401
      View Details
    • $845,000
      3,788 SF

      Bangor Income-Producing Group Home

      Large group home with income potential in Bangor, Maine.
      913 Essex St, Bangor, ME 04401
      View Details
    • New
      $410,000
      3,264 SF

      Historic Greek Revival with Income Potential

      Historic Bangor residence with in-law apartment and recent upgrades.
      115 Essex St, Bangor, ME 04401
      View Details
    • $850,000
      6,170 SF

      Passive Solar Office/Medical Building

      Efficient office/medical building with versatile floor plan and ample parking.
      1570 Broadway, Bangor, ME 04401
      View Details
    • $250,000
      3,010 SF

      State Street Mixed-Use Opportunity

      Mixed-use building with retail space and a two-bedroom apartment.
      163 State Street Ave, Bangor, ME 04401
      View Details
    • New
      $724,900
      6,030 SF

      Iconic Mixed-Use Investment Opportunity

      Five-unit mixed-use property in historic Bangor location.
      77 Broadway, Bangor, ME 04401
      View Details
    • New
      $724,900
      6,030 SF

      Historic Mixed-Use Investment Opportunity

      Five-unit property with commercial space and residential apartments in Bangor, Maine.
      77 Broadway, Bangor, ME 04401
      View Details
    • New
      $349,900
      0.12 Acres

      Bangor Multi-Unit Investment Opportunity

      Fully rented 3-unit building in town with consistent rental income.
      34 Winter St, Bangor, ME 04401
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - 125 Acres, Mixed-Use Potential, Prime Location
    Where is this commercial real estate located?
    The property is located at 1600 Union St Bangor, ME.
    What is the asking price?
    The asking price for this property is $4,999,999.
    (207) 944-1672
    Request Owner's contact information
    1600 Union St Bangor, ME 04401
    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.
    1600 Union St
    Bangor, ME 04401
    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
    1600 Union St Bangor, ME 04401
    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

    We can help!
    Listing Contact
    Philip Adams Jr
    (207) 944-1672 (207) 990-3929
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!