Flex Property with Cold
New
For Sale
$1,250,000
1380 Hammond St, Bangor, ME 04401
Multiple buildings combine professional offices, heated workspace, dedicated cold storage, loading access, and substantial on-site parking.
Property Size7,250 SF
Price / SF$172.41
Days on Market4
Property Features for 1380 Hammond St
General Information
Standard status
Active
Size
7,250 SF
Property subtype
Commercial
Building Details
Year Built
2008
Listing Agency:
(207) 310-8592
Listed By:
Carol Kline
Source:
Klinerealtygroup
Added: Oct 29
Changed: Oct 30
Last Checked: Oct 30 at 2:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Carol Kline
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Investment Insights
Based on property information with market context.
This 7,250-square-foot flex property, built in 2008, brings office and service areas together with warehouse and storage space. The main building has approximately 3,000 square feet of finished offices, including seven private offices, two reception areas, a full bathroom, and a kitchenette. An attached 1,392-square-foot heated garage and warehouse adds work and storage capacity. A separate 40-by-50-foot cold storage building offers approximately 2,000 square feet, 16-foot walls, and power. The main building has central heating and air conditioning, and the property includes natural gas service and an on-demand generator.
A built-in exterior loading dock accommodates tractor-trailer access. The parking area provides space for more than 20 vehicles and/or equipment. Located on Hammond Street in Bangor, Maine, the property has a varied mix of office, heated warehouse, cold storage, loading, and parking areas.
A built-in exterior loading dock accommodates tractor-trailer access. The parking area provides space for more than 20 vehicles and/or equipment. Located on Hammond Street in Bangor, Maine, the property has a varied mix of office, heated warehouse, cold storage, loading, and parking areas.
Key Highlights
- 7,250‑square‑foot property with office, warehouse, and storage components
- Approximately 3,000 square feet of finished office space, with 7 private offices and 2 reception areas
- Attached 1,392‑square‑foot heated garage and warehouse
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,525
Cap Rate
5.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,250,500
$1.3M
Cap Rate 7%
$893,214
$893.2K
Cap Rate 9%
$694,722
$694.7K
Market Conditions
NOI Build-Up for 7,250 SF
Gross rent
$101.8K $14.04/SF
− Vacancy
−$5.6K −$0.77/SF
EGI
$96.2K $13.27/SF
− OpEx
−$33.7K −$4.64/SF
NOI
$62.5K $8.62/SF
Area
Penobscot County, ME
Vacancy
5.50%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,250,500
Cap Rate 7%
$893,214
Cap Rate 9%
$694,722
Alternative Uses
Best Use
Flex RnD
$893.2K
$781.6K – $1.04M
NOI $62,525 @ 7.0% cap · market cap 5.00%
Second Best
Warehouse
$687.7K
$601.8K – $802.4K
NOI $48,141 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$2.34M
$2.05M – $2.73M
NOI $163,908 @ 7.0% cap · market cap 13.11%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Well-served
Demand for This Use
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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
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - Multiple buildings combine professional offices, heated workspace, dedicated cold storage, loading access, and substantial on-site parking.
Where is this flex space located?
The property is located at 1380 Hammond St Bangor, ME.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 7,250‑square‑foot property with office, warehouse, and storage components; Approximately 3,000 square feet of finished office space, with 7 private offices and 2 reception areas; Attached 1,392‑square‑foot heated garage and warehouse
