Mixed-Use Property with Office
15 Phillips Road, Bangor, ME 04401
For Sale
Contact for pricing
Ranch-style living space is paired with a detached garage and finished lower-level office area.
Property Size1,300 SF
Price / SF$384.54
Days on Market42
Property Features for 15 Phillips Road
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Space & Availability
Floor
Condition
Additional Details
Property Use
Building Details
Buildings
Listing Agency:
Realty of Maine Bangor
Listed By:
Kurtis Marsh · License ME BA913028
Source:
Crexi
Added: Sep 30
Changed: Nov 10
Last Checked: Nov 10 at 7:41AM
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 Realty of Maine Bangor
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Investment Insights
Based on property information with market context.
The property combines more than 2,000 square feet of ranch-style living space with a detached three-car garage. Its finished lower level provides approximately 1,300 square feet of office space. The property has previously been used as both a residence and an office, offering a live-work configuration. Walking trails are located beside the property. Buyers should consult the Town of Glenburn about permitted and approved uses.
Key Highlights
- More than 2,000 square feet of ranch‑style living space
- Approximately 1,300 square feet of finished lower‑level office space
- Detached three‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,377
Cap Rate
3.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$367,540
$367.5K
Cap Rate 7%
$262,529
$262.5K
Cap Rate 9%
$204,189
$204.2K
Market Conditions
NOI Build-Up for 1,300 SF
Gross rent
$28.1K $21.60/SF
− Vacancy
−$3.6K −$2.75/SF
EGI
$24.5K $18.85/SF
− OpEx
−$6.1K −$4.71/SF
NOI
$18.4K $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%
$367,540
Cap Rate 7%
$262,529
Cap Rate 9%
$204,189
Alternative Uses
Best Use
Office B
$262.5K
$229.7K – $306.3K
NOI $18,377 @ 7.0% cap · market cap 3.68%
Second Best
Mixed Use
$133.1K
$116.5K – $155.3K
NOI $9,316 @ 7.0% cap · market cap 1.86%
Theoretical Best
Office A
$419.9K
$367.4K – $489.8K
NOI $29,390 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
17
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
$229,600
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Penobscot County, ME
Properties on Market for Mixed-use properties in Penobscot County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ranch-style living space is paired with a detached garage and finished lower-level office area.
Where is this mixed-use property located?
The property is located at 15 Phillips Road Bangor, ME.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: More than 2,000 square feet of ranch‑style living space; Approximately 1,300 square feet of finished lower‑level office space; Detached three‑car garage
