Live-Work Space with Built-Out
For Sale
$625,000
363 Mount Hope Avenue, Bangor, ME 04401
COMMERCIAL - Bangor, ME
Property Size2,950 SF
Lot Size0.46 Acres
Price / SF$211.86
Days on Market48
Property Features for 363 Mount Hope Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
URD-1
Rooms
Basement
Parking features
Off Street
Basement
Full, Finished, Walk-Out Access, Daylight
Lot features
Public Transport Access, Near Turnpike/ Interstate, Business District, Near Shopping, Suburban
Standard status
Active
Size
2,950 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
5520
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard, Oil, Electric (Heating)
Water source
Public
Building Details
Year built
1976
Flooring type
Linoleum, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
Portside Real Estate Group
(207) 607-5965
Listed By:
Colleen Maguire
(207) 951-4893
Added: Jun 25
Changed: Aug 4
Last Checked: Aug 11 at 7:06PM
MLS# 1668835
Copyright © 2026 Maine Listings. 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.
Live-work opportunity designed for professional use with separate living and working areas. The property is a ranch configuration featuring comfortable upstairs living with three bedrooms and two full bathrooms, along with a fully built-out lower-level suite intended for business use. The lower level includes a professional reception area, a dedicated full bathroom, and 3+ private rooms that can support treatment rooms, private offices, or consultation spaces. A separate private entrance helps the suite operate independently from the living space, supporting privacy for both residents and clients.
Zoned URD-1, the property may support a range of home-based professional and business uses; buyers should confirm permitted uses with Bangor Code Enforcement. The home sits on a 0.46-acre lot with a paved driveway and off-street parking.
Built in 1976 with wood-frame construction and vinyl siding, the property is served by public water and public sewer. Heating includes oil, baseboard, hot water, and electric, with carpet and linoleum flooring and a shingle roof. Showings begin July 6.
Zoned URD-1, the property may support a range of home-based professional and business uses; buyers should confirm permitted uses with Bangor Code Enforcement. The home sits on a 0.46-acre lot with a paved driveway and off-street parking.
Built in 1976 with wood-frame construction and vinyl siding, the property is served by public water and public sewer. Heating includes oil, baseboard, hot water, and electric, with carpet and linoleum flooring and a shingle roof. Showings begin July 6.
Key Highlights
- URD‑1 zoned live‑work property with separate private entrance
- 0.46‑acre lot with paved driveway and off‑street parking
- Upstairs living: 3 bedrooms and 2 full bathrooms
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 - URD-1 live-work property with a built-out lower-level suite, private entrance, and two-car 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: URD‑1 zoned live‑work property with separate private entrance; 0.46‑acre lot with paved driveway and off‑street parking; Upstairs living: 3 bedrooms and 2 full bathrooms
