Flex Space with
For Sale
$420,000
1555 Hammond Street, Bangor, ME 04401
Versatile commercial building combines office, product display, and garage areas within one property.
Property Size2,295 SF
Days on Market248
Property Features for 1555 Hammond Street
General Information
Standard status
Active
Size
2,295 SF
Property subtype
Commercial
Zoning
GC&S
Taxes and HOA fees
Annual Taxes
$3,168
Building Details
Building Size
2,295 SF
Year Built
1955
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
(207) 745-4490
Listed By:
Ansley Moore
(207) 745-4490
Source:
Startpoint
Added: Dec 5, 2025
Changed: Aug 10
Last Checked: Aug 10 at 12:05PM
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 Better Homes & Gardens Real Estate/The Masiello Group
Investment Insights
Based on property information with market context.
The property is an updated flex building at 1555 Hammond Street in Bangor, Maine. Built in 1955, it provides a combination of office space, showroom area, and garage space within a single commercial facility. The showroom is configured for product presentation, while the office area supports administrative functions and client meetings. Garage space adds room for storage, equipment, or vehicle access.
The building carries GC&S zoning and offers a flexible layout for operations that require office, display, and storage components together. Its visible setting along Hammond Street supports exposure to passing traffic, as stated in the property information.
The building carries GC&S zoning and offers a flexible layout for operations that require office, display, and storage components together. Its visible setting along Hammond Street supports exposure to passing traffic, as stated in the property information.
Key Highlights
- Updated flex building with office, showroom, and garage areas
- GC&S zoning
- Showroom area designed for product presentation
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
$32,442
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
7.72%
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%
$648,840
$648.8K
Cap Rate 7%
$463,457
$463.5K
Cap Rate 9%
$360,467
$360.5K
Market Conditions
NOI Build-Up for 2,295 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
$49.6K $21.60/SF
− Vacancy
−$6.3K −$2.75/SF
EGI
$43.3K $18.85/SF
− OpEx
−$10.8K −$4.71/SF
NOI
$32.4K $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 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%
$648,840
Cap Rate 7%
$463,457
Cap Rate 9%
$360,467
Alternative Uses
Best Use
Office B
$463.5K
$405.5K – $540.7K
NOI $32,442 @ 7.0% cap · market cap 7.72%
Second Best
Flex RnD
$282.7K
$247.4K – $329.9K
NOI $19,792 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$741.2K
$648.6K – $864.8K
NOI $51,885 @ 7.0% cap · market cap 12.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
193
Businesses Nearby
Well-served
Demand for This Use
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
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial building combines office, product display, and garage areas within one property.
Where is this flex space located?
The property is located at 1555 Hammond Street Bangor, ME.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Updated flex building with office, showroom, and garage areas; GC&S zoning; Showroom area designed for product presentation
