Downtown Bangor Professional Office
9 May St, Bangor, ME 04401
Prime office building in Bangor's Downtown Development District.
Type:Office
Property size:
7,400 SFPrice / SF:
$162/SF- Added:
- Mar 10, 2026
- Days on Market:
- 75
- Last Refresh:
- Mar 19 at 10:13 pm
Property Features for 9 May St
General Information
- Standard status
- Active
- Size
- 7,400 SF
- Property subtype
- Office
Building Details
- Year Built
- 1924
Listing agent Stephen Sprague License #BR927284
Listing office Dawson Commercial Brokers
Listing date Mar 10, 2026
Source Crexi
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 Dawson Commercial Brokers
HighLights
- Prime location in Bangor's Downtown Development District with high visibility and traffic.
- Multiple well‑designed office suites with flexible configurations to attract diverse professionals.
- Recent upgrades including remodels in 2007, 2018, and 2025.
- Secure environment with locked entry system and fire‑safe sprinkler system.
- On‑site parking with 10 spaces, plus adjacent city parking options.
- Inviting architecture with abundant natural light.
Overview
Located in the heart of Bangor's Downtown Development District, this professional office building offers high visibility and traffic. The property features inviting architecture and abundant natural light. Recent upgrades include a full remodel in 2007 and facade grant improvements in 2018. Floor 2, Suite #1 and Floor 3 were newly remodeled in 2025 and leased. The building is equipped with a locked entry system, a lobby with elevator and stairwell access, and a fire-safe sprinkler system. It also includes 10 parking spaces, with additional city parking available alongside and in a city permit lot next door. Reflecting the early 20th-century commercial development period, the building offers multiple well-designed office suites with flexible configurations. Floor 2, Suites #2 and Floor 3, Suite #4 are leased and occupied by professional tenants practicing psychology, therapy, and law. Floor 1, Suite 1, comprising 2350 sqft, features a reception and lobby area, a conference room with a kitchen, a copy room, and 5 offices, including 2 large executive corner offices and is currently being advertised for lease. Floor 2, Suite #1, offers 1350 sqft of office space with a reception and lobby area and 4 office/work areas. Floor 2, Suite #2, provides 1000 sqft of office space with a reception/kitchen area, 4 offices, and a storage supplies room. Floor 3, Suite #1, includes 2700 sqft of office space with a reception and lobby area, a kitchen, a conference room, a copy room, and 6 offices, including 2 large executive corner offices. The property's total size is 7400 sqft.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$1.16M
NOI $104,607 @ 9.00% cap · cautious / downside scenario
Moderate
$1.49M
NOI $104,607 @ 7.00% cap · market / base-case scenario
Aggressive
$2.09M
NOI $104,607 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $159.8k | $21.60 |
| − Vacancy | −$20.4k | −$2.75 |
| EGI | $139.5k | $18.85 |
| − OpEx | −$34.9k | −$4.71 |
| NOI | $104.6k | $14.14 |
7,400 SF · lease $21.60/SF/yr · vacancy 12.74% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$1.49M
$1.31M – $1.74M
NOI $104,607 @ 7.0% cap · market cap 8.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,299 @ 7.0% cap · market cap 13.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Mark Lloyd
Loan Service
Law Offices of Joe ...
Law Firm
David R Miller, ...
Law Firm
You & Improved, Inc.
Training Center
Elk River Development ...
Construction Company
Location Insight
- Map
- Local Demand
- City
- Bangor
- County
- Penobscot
- State
- Maine
- Longitude
- -68.772607
- Latitude
- 44.7977049
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Prime office building in Bangor's Downtown Development District.
Where is this office building located?
The property is located at 9 May St Bangor, ME.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Prime location in Bangor's Downtown Development District with high visibility and traffic.; Multiple well‑designed office suites with flexible configurations to attract diverse professionals.; Recent upgrades including remodels in 2007, 2018, and 2025.
