Building Details

Year built 2008

Listing Agency: NextHome Experience Show Phone

Listed By: Isaac Raymond · License #BA919629,PersonLicenseNumber Show Phone

Added: Oct 6 Last Checked: Oct 6 at 7:06PM

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MLS# 1683297

Copyright © 2026 NextHome, Inc. 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.

This 2008 mixed-use commercial property spans approximately 7,250 square feet and 1.93 acres. The main building has about 3,000 square feet of finished office area, arranged with seven private offices, two reception areas, a full bathroom, and a kitchenette. An attached 1,392-square-foot heated garage and warehouse adds workspace and equipment storage. A separate cold-storage building provides approximately 2,000 square feet, with 16-foot walls and power.

An outdoor loading dock accommodates tractor-trailer access, and the parking area holds well over 20 vehicles and/or equipment. The main building has central heating and air conditioning; additional features include natural gas service, an on-demand generator, and a hot-air blower in the attached warehouse.

Key Highlights

• Approximately 7,250 square feet on 1.93 acres
• Main building includes approximately 3,000 square feet of finished office space, with 7 private offices and 2 reception areas
• Attached 1,392‑square‑foot heated garage/warehouse

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$102,487

Cap Rate

8.20%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,049,740 $2.0M

Cap Rate 7%

$1,464,100 $1.5M

Cap Rate 9%

$1,138,744 $1.1M

Market Conditions

NOI Build-Up for 7,250 SF

Gross rent

$156.6K $21.60/SF

− Vacancy

−$20.0K −$2.75/SF

EGI

$136.6K $18.85/SF

− OpEx

−$34.2K −$4.71/SF

NOI

$102.5K $14.14/SF

Area

Penobscot County, ME

Vacancy

12.74%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,049,740

Cap Rate 7%

$1,464,100

Cap Rate 9%

$1,138,744

Alternative Uses

Best Use

Office B

$1.46M

$1.28M – $1.71M (±1% cap)

NOI $102,487 @ 7.0% cap · market cap 8.20%

Second Best

Mixed Use

$742.2K

$649.4K – $865.9K (±1% cap)

NOI $51,955 @ 7.0% cap · market cap 4.16%

Theoretical Best

Office A

$2.34M

$2.05M – $2.73M (±1% cap)

NOI $163,908 @ 7.0% cap · market cap 13.11%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Perry & Morrill, Inc Construction Company

Suggested Use

Top Pick Furniture & Home Goods Grocery & Convenience Store Garden Center Barber Shop Computer & Electronic Repair Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

208

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Multiple buildings combine finished offices, heated workspace, cold storage, loading access, and on-site parking.

Where is this mixed-use property located?

The property is located at 1380 Hammond Street 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: Approximately 7,250 square feet on 1.93 acres; Main building includes approximately 3,000 square feet of finished office space, with 7 private offices and 2 reception areas; Attached 1,392‑square‑foot heated garage/warehouse