Storefront with Basement
585 Hammond Street, Bangor, ME 04401
For Sale
$290,000
NSD zoning and attic space add flexibility to the property’s commercial configuration.
Property Size1,000 SF
Price / SF$290
Days on Market509
Property Features for 585 Hammond Street
General Information
Standard status
Size
Property subtype
Zoning
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Year Renovated
Buildings
Listing Agency:
NextHome Experience
(207) 573-7400
Listed By:
Nicole Drake · License ME BA922288
(207) 745-9614
Source:
Integrityhomesrealestategroup
Added: Jun 21, 2025
Changed: Nov 11
Last Checked: Nov 11 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 NextHome Experience
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Investment Insights
Based on property information with market context.
This Bangor storefront includes a basement described as clean and dry, along with usable attic space. Improvements span several years: a roof was installed in 2015, basement spray foam insulation was added in 2016, and electrical work was completed in 2017. A 2019 renovation included front steps, pavement, siding, and a bathroom update. Custom shelving followed in 2023, and the furnace was replaced in 2024. The building dates to 1920 and carries NSD zoning.
The property is minutes from downtown Bangor, I-95, Bangor International Airport, Husson University, and the University of Maine. A survey was completed in 2018.
The property is minutes from downtown Bangor, I-95, Bangor International Airport, Husson University, and the University of Maine. A survey was completed in 2018.
Key Highlights
- NSD zoning
- Usable attic space and a clean, dry basement
- Furnace replaced in 2024; custom shelving added in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,366
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$167,320
$167.3K
Cap Rate 7%
$119,514
$119.5K
Cap Rate 9%
$92,956
$93.0K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$14.4K $14.40/SF
− Vacancy
−$2.4K −$2.45/SF
EGI
$12.0K $11.95/SF
− OpEx
−$3.6K −$3.59/SF
NOI
$8.4K $8.37/SF
Area
Penobscot County, ME
Vacancy
17.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$167,320
Cap Rate 7%
$119,514
Cap Rate 9%
$92,956
Alternative Uses
Best Use
Retail
$119.5K
$104.6K – $139.4K
NOI $8,366 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$323.0K
$282.6K – $376.8K
NOI $22,608 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
298
Businesses Nearby
5k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 71%
Dining 29%
Gulf Oil
Shops & Services
1,419 visits/mo
0.4 miles
Gambino's
Dining
1,343 visits/mo
0.0 miles
Citgo
Shops & Services
989 visits/mo
0.2 miles
Napa Auto Parts
Shops & Services
887 visits/mo
0.1 miles
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
$229,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Storefront properties in Penobscot County, ME
Properties on Market for Storefront properties in Penobscot County
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Sunnyside Florists-Greenhouses — 117 Buck St, Bangor, ME 04401
- Frederick Flower Fairy — 15 perkins st, bangor, me 04401
- Chapel Hill Floral — 453 Hammond St, Bangor, ME 04401
Frequently Asked Questions
What type of property is this?
Storefront property - NSD zoning and attic space add flexibility to the property’s commercial configuration.
Where is this storefront property located?
The property is located at 585 Hammond Street Bangor, ME.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: NSD zoning; Usable attic space and a clean, dry basement; Furnace replaced in 2024; custom shelving added in 2023
