Live-Work Property with Private
For Sale
$625,000
363 Mount Hope Avenue, Bangor, ME 04401
Two-level layout pairs residential living with a separately accessed professional suite and attached garage.
Property Size2,950 SF
Price / SF$211.86
Days on Market80
Property Features for 363 Mount Hope Avenue
General Information
Standard status
Active
Size
2,950 SF
Property subtype
Commercial
Zoning
URD-1
Lease Term
[]
Building Details
Year Built
1976
Buildings
1
Construction
ranch
Listing Agency:
Portside Real Estate Group
(207) 951-4893
Listed By:
Colleen Maguire
Source:
Portsiderealestategroup
Added: Jun 11
Changed: Aug 28
Last Checked: Aug 28 at 7:03AM
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 Portside Real Estate Group
Investment Insights
Based on property information with market context.
This live-work property at 363 Mount Hope Avenue combines an upstairs residence with a dedicated lower-level business suite. The living area includes 3 bedrooms and 2 full baths, while the lower level provides 3+ private rooms, a full bathroom, and a reception area. A separate entrance allows the professional space to function apart from the residential area. The attached two-car garage provides additional storage and convenience.
The property is zoned URD-1 and includes a large lot, paved driveway, and ample parking. Built in 1976, the layout may support home-based professional or business uses, subject to verification with Bangor Code Enforcement. The configuration is suited to office, therapy, consultation, or similar professional operations identified in the property information.
The property is zoned URD-1 and includes a large lot, paved driveway, and ample parking. Built in 1976, the layout may support home-based professional or business uses, subject to verification with Bangor Code Enforcement. The configuration is suited to office, therapy, consultation, or similar professional operations identified in the property information.
Key Highlights
- 3 bedrooms and 2 full baths in the upstairs living area
- Lower‑level suite includes 3+ private rooms and a reception area
- Separate entrance divides professional space from residential living
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
$41,702
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
6.67%
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%
$834,040
$834.0K
Cap Rate 7%
$595,743
$595.7K
Cap Rate 9%
$463,356
$463.4K
Market Conditions
NOI Build-Up for 2,950 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
$63.7K $21.60/SF
− Vacancy
−$8.1K −$2.75/SF
EGI
$55.6K $18.85/SF
− OpEx
−$13.9K −$4.71/SF
NOI
$41.7K $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%
$834,040
Cap Rate 7%
$595,743
Cap Rate 9%
$463,356
Alternative Uses
Best Use
Office B
$595.7K
$521.3K – $695.0K
NOI $41,702 @ 7.0% cap · market cap 6.67%
Second Best
Healthcare Medical
$488.6K
$427.6K – $570.1K
NOI $34,205 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$952.8K
$833.7K – $1.11M
NOI $66,694 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
687
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
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Frequently Asked Questions
What type of property is this?
Live-work space - Two-level layout pairs residential living with a separately accessed professional suite and attached garage.
Where is this live-work space located?
The property is located at 363 Mount Hope Avenue Bangor, ME.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3 bedrooms and 2 full baths in the upstairs living area; Lower‑level suite includes 3+ private rooms and a reception area; Separate entrance divides professional space from residential living
