89 State Street, Bangor, ME 04401

Building Details

Building Size 14,630 SF More

Year Built 1950 More

Stories 1 More

Listing Agency: Realty of Maine j***@realtyofmaine.com Show Phone

Listed By: Patricia Largay Show Phone

Source: Integrityhomesrealestategroup

Added: Jun 22 Changed: Nov 7 Last Checked: Nov 9 at 1:50PM

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

The retail property at 89 State Street includes a front showroom, private offices, and an open interior layout. A rear loading dock supports deliveries, and an active indoor sprinkler system is installed. The site has a paved lot with parking areas at both the front and rear, plus a paved entrance.

Positioned at the corner of Broadway and State Street in Bangor, the property was built in 1950 and is zoned Commercial. More than 50 parking spaces serve the site.

Key Highlights

• Corner location at Broadway and State Street in Bangor
• Over 50 parking spaces across front and rear paved areas
• Front showroom, private offices, and open interior layout

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$122,400

Cap Rate

8.77%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,448,000 $2.4M

Cap Rate 7%

$1,748,571 $1.7M

Cap Rate 9%

$1,360,000 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 14,630 SF

Gross rent

$210.7K $14.40/SF

− Vacancy

−$35.8K −$2.45/SF

EGI

$174.9K $11.95/SF

− OpEx

−$52.5K −$3.59/SF

NOI

$122.4K $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%

$2,448,000

Cap Rate 7%

$1,748,571

Cap Rate 9%

$1,360,000

Alternative Uses

Best Use

Retail

$1.75M

$1.53M – $2.04M (±1% cap)

NOI $122,400 @ 7.0% cap · market cap 8.77%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$4.73M

$4.13M – $5.51M (±1% cap)

NOI $330,755 @ 7.0% cap · market cap 23.71%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Retail space

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Florist Carpet & Flooring Store Catering Service Pet Store & Service Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Sprinkler system

Location Intelligence

Trade Area within ½ mile

2,181

Businesses Nearby

35k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Irving Oil Shops & Services

11,804 visits/mo 0.5 miles

Circle K Shops & Services

7,874 visits/mo 0.5 miles

Dollar General Shops & Services

6,268 visits/mo 0.3 miles

Family Dollar Shops & Services

4,938 visits/mo 0.3 miles

TD Bank Shops & Services

2,813 visits/mo 0.5 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

Market

Average Price Trend$/SF for Retail space in Penobscot County, ME

$95.03 Jul

$88.68 Aug

$77.62 Sep

$78.96 Oct

Properties on Market for Retail space in Penobscot County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - Commercial zoning, dedicated office areas, and on-site parking support a range of retail operations.

Where is this retail space located?

The property is located at 89 State Street Bangor, ME.

What is the asking price?

The asking price for this property is $1,395,000.

What are key features of this property?

This property features: Corner location at Broadway and State Street in Bangor; Over 50 parking spaces across front and rear paved areas; Front showroom, private offices, and open interior layout