Live-Work Property with Office
For Sale
$625,000
363 Mount Hope Avenue, Bangor, ME 04401
Commercial Sale, Bangor, ME
Property Size2,950 SF
Lot Size0.46 Acres
Price / SF$211.86
Days on Market125
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
Daylight, Finished, Full, Walk-Out Access
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
Additional Details
Condition
Turnkey
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
5520
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Hot Water(Heating), Baseboard, Oil
Water source
Public
Building Details
Year built
1976
Flooring type
Carpet, Linoleum
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Buildings
1
Listing Agency:
Portside Real Estate Group
(207) 607-5965
Listed By:
Colleen Maguire
(207) 951-4893
Added: Jun 25
Changed: Oct 27
Last Checked: Oct 27 at 10:06PM
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.
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Investment Insights
Based on property information with market context.
This live-work property pairs three upstairs bedrooms and two full bathrooms with a dedicated lower-level business suite. The suite includes 3+ private rooms, a reception area, a full bathroom, and its own entrance. A two-car attached garage and off-street parking provide additional on-site vehicle space.
The property occupies 0.46 acres and is zoned URD-1. Public water and public sewer serve the site. Built in 1976, the residence has a paved driveway and a layout that separates the living area from the lower-level workspace.
The property occupies 0.46 acres and is zoned URD-1. Public water and public sewer serve the site. Built in 1976, the residence has a paved driveway and a layout that separates the living area from the lower-level workspace.
Key Highlights
- Lower‑level suite has 3+ private rooms, a reception area, a full bathroom, and a separate entrance
- Three bedrooms and two full bathrooms on the upper level
- Two‑car attached garage and off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,702
Cap Rate
6.67%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
687
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Live-work space - A separate entrance serves the lower-level business area, apart from the three-bedroom living quarters.
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: Lower‑level suite has 3+ private rooms, a reception area, a full bathroom, and a separate entrance; Three bedrooms and two full bathrooms on the upper level; Two‑car attached garage and off‑street parking
