Renovated Single-Level Office
For Sale
$585,000
557 Hammond Street, Bangor, ME 04401
A reception area, full kitchen, and partial basement support a range of office functions and storage needs.
Property Size3,000 SF
Price / SF$195
Days on Market467
Property Features for 557 Hammond Street
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Condition
Newly Renovated
Property Use
Office
Taxes and HOA fees
Annual Taxes
$6,159
Amenities
large windows
energy-efficient heating systems
ample paved off-street parking
ADA-compliant bathrooms
welcoming reception area
spacious full kitchen
noise-reducing insulation
partial basement storage
beautiful rock walls and planters
Building Details
Building Size
3,000 SF
Year Built
1988
Buildings
1
Stories
1
Listing Agency:
Realty of Maine
(207) 942-6310
Listed By:
Paul Cook
(207) 852-0397
Source:
Integrityhomesrealestategroup
Added: Jul 23, 2025
Changed: Oct 30
Last Checked: Oct 30 at 2:12AM
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 Realty of Maine
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Investment Insights
Based on property information with market context.
This 3,000-square-foot office building in Bangor is arranged on one level and was renovated. Interior features include a reception area, a full kitchen, noise-reducing insulation, and ADA-compliant bathrooms. Large windows bring natural light into the workspace, while an energy-efficient heating system serves the building. A partial basement adds storage space.
The property at 557 Hammond Street has paved off-street parking. Rock walls and planters frame the front exterior. Built in 1988, the building is zoned Commercial.
The property at 557 Hammond Street has paved off-street parking. Rock walls and planters frame the front exterior. Built in 1988, the building is zoned Commercial.
Key Highlights
- 3,000‑square‑foot office building on one level
- Renovated; originally built in 1988
- Reception area and full kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,408
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$848,160
$848.2K
Cap Rate 7%
$605,829
$605.8K
Cap Rate 9%
$471,200
$471.2K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$64.8K $21.60/SF
− Vacancy
−$8.3K −$2.75/SF
EGI
$56.5K $18.85/SF
− OpEx
−$14.1K −$4.71/SF
NOI
$42.4K $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 Rate 5%
$848,160
Cap Rate 7%
$605,829
Cap Rate 9%
$471,200
Alternative Uses
Best Use
Office B
$605.8K
$530.1K – $706.8K
NOI $42,408 @ 7.0% cap · market cap 7.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$968.9K
$847.8K – $1.13M
NOI $67,824 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
356
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?
Office building - A reception area, full kitchen, and partial basement support a range of office functions and storage needs.
Where is this office building located?
The property is located at 557 Hammond Street Bangor, ME.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: 3,000‑square‑foot office building on one level; Renovated; originally built in 1988; Reception area and full kitchen
