Historic Mixed-Use Building with Restored
For Sale
$949,999
133-135 Broadway, Bangor, ME 04401
COMMERCIAL - Bangor, ME
Property Size7,422 SF
Lot Size0.44 Acres
Price / SF$127
Days on Market72
Property Features for 133-135 Broadway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M & SD
Rooms
Basement
Parking features
Off Street
Interior features
Storage
Basement
Unfinished, Full, Partial
Accessibility
Accessible Approach with Ramp
Lot features
Public Transport Access, Near Turnpike/ Interstate, Near Airport, Bus Line, Historic District, Near Shopping, Shopping Mall
Standard status
Active
Size
7,422 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
11061
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Zoned, Natural Gas, Electric (Heating), Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1870
Flooring type
Wood, Laminate, Carpet
Building materials
Wood Frame, Wood Siding
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Realty of Maine
(207) 942-6310
Listed By:
Jennifer Herbold
(207) 478-4230
Added: Jun 2
Changed: Aug 4
Last Checked: Aug 12 at 3:06AM
MLS# 1645787
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.
Historic mixed-use commercial/residential building offering restored original wood floors and woodwork throughout, plus storage. The property was built in 1870 and features mixed flooring including wood, carpet, and laminate. A former law office layout is available for use or rent, with multiple private offices, multiple conference rooms, and private bathrooms.
The building includes off-street parking via a private parking lot and provides accessible approach with a ramp. Heating is newly updated with heat pumps throughout, supported by a new heating system and a backup boiler as a secondary heat source.
The site is 0.44 acres with a total property size of 7,422 square feet. Utilities are supported by public water and public sewer, and the building is covered by a shingle roof. Zoned M & SD.
The building includes off-street parking via a private parking lot and provides accessible approach with a ramp. Heating is newly updated with heat pumps throughout, supported by a new heating system and a backup boiler as a secondary heat source.
The site is 0.44 acres with a total property size of 7,422 square feet. Utilities are supported by public water and public sewer, and the building is covered by a shingle roof. Zoned M & SD.
Key Highlights
- 0.44‑acre site with 7,422 SF historic mixed‑use building
- Restored original wood floors and woodwork throughout
- Former law office layout: multiple private offices, conference rooms, and private bathrooms
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
$62,559
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
6.59%
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%
$1,251,180
$1.3M
Cap Rate 7%
$893,700
$893.7K
Cap Rate 9%
$695,100
$695.1K
Market Conditions
NOI Build-Up for 7,422 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
$120.2K $16.20/SF
− Vacancy
−$6.5K −$0.87/SF
EGI
$113.7K $15.33/SF
− OpEx
−$51.2K −$6.90/SF
NOI
$62.6K $8.43/SF
Area
Penobscot County, ME
Vacancy
5.40%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,251,180
Cap Rate 7%
$893,700
Cap Rate 9%
$695,100
Alternative Uses
Best Use
Office B
$1.50M
$1.31M – $1.75M
NOI $104,918 @ 7.0% cap · market cap 11.04%
Second Best
Apartment 5plus
$893.7K
$782.0K – $1.04M
NOI $62,559 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $167,797 @ 7.0% cap · market cap 17.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
24
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic mixed-use building in zoning M & SD with restored original wood floors and a private off-street parking lot.
Where is this mixed-use property located?
The property is located at 133-135 Broadway Bangor, ME.
What is the asking price?
The asking price for this property is $949,999.
What are key features of this property?
This property features: 0.44‑acre site with 7,422 SF historic mixed‑use building; Restored original wood floors and woodwork throughout; Former law office layout: multiple private offices, conference rooms, and private bathrooms
