Freestanding Office
546 Broadway, Bangor, ME 04401
For Sale
$375,000
GC & SD zoning supports a range of commercial and service-oriented business uses.
Property Size1,062 SF
Price / SF$353.11
Days on Market36
Property Features for 546 Broadway
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Additional Details
Condition
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
front glassed all season porch
reception area
kitchenette
conference room
deck
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
(207) 942-6711
Listed By:
Holly Taylor · License ME BR92630
(207) 431-2755
Source:
Integrityhomesrealestategroup
Added: Oct 7
Changed: Nov 11
Last Checked: Nov 10 at 11:36PM
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
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Investment Insights
Based on property information with market context.
Built in 1920, this freestanding office property combines restored wood floors, woodwork, and original doors with extensive newer improvements. The interior includes a reception area, conference room, kitchenette, full bath, half bath, and 6–8 offices. A finished room occupies the former attic, and three entrances serve the building, including a glass-enclosed, all-season front porch. Updates include electrical, furnace, shingles, windows, walls and ceilings, lighting, and a deck.
The property is at the corner of Broadway and I-95 South and North in Bangor, across from Convenient MD. The site has an average daily traffic count of almost 30,000 vehicles and is near St. Joseph Hospital, Northern Lights Hospital, Husson University, the University of Maine, EMTC, and downtown.
On-site parking includes 11+ spaces, with plans for expansion. Additional structures include a 26'6" x 22'6" garage/barn and a 40 x 20 barn. Zoning is GC & SD.
The property is at the corner of Broadway and I-95 South and North in Bangor, across from Convenient MD. The site has an average daily traffic count of almost 30,000 vehicles and is near St. Joseph Hospital, Northern Lights Hospital, Husson University, the University of Maine, EMTC, and downtown.
On-site parking includes 11+ spaces, with plans for expansion. Additional structures include a 26'6" x 22'6" garage/barn and a 40 x 20 barn. Zoning is GC & SD.
Key Highlights
- GC & SD zoning
- Average daily traffic count of almost 30,000 vehicles
- Reception area, conference room, kitchenette, and 6–8 offices
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,013
Cap Rate
4.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$300,260
$300.3K
Cap Rate 7%
$214,471
$214.5K
Cap Rate 9%
$166,811
$166.8K
Market Conditions
NOI Build-Up for 1,062 SF
Gross rent
$22.9K $21.60/SF
− Vacancy
−$2.9K −$2.75/SF
EGI
$20.0K $18.85/SF
− OpEx
−$5.0K −$4.71/SF
NOI
$15.0K $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%
$300,260
Cap Rate 7%
$214,471
Cap Rate 9%
$166,811
Alternative Uses
Best Use
Office B
$214.5K
$187.7K – $250.2K
NOI $15,013 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$343.0K
$300.1K – $400.2K
NOI $24,010 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
528
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
$229,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Bangor, ME
Properties on Market for Office buildings in Bangor
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - GC & SD zoning supports a range of commercial and service-oriented business uses.
Where is this office building located?
The property is located at 546 Broadway Bangor, ME.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: GC & SD zoning; Average daily traffic count of almost 30,000 vehicles; Reception area, conference room, kitchenette, and 6–8 offices
