Downtown Bangor Professional Office
For Sale
Contact for pricing
9 May St, Bangor, ME 04401
Prime office building in Bangor's Downtown Development District.
Property Size7,400 SF
Price / SF$157.97
Days on Market215
Property Features for 9 May St
General Information
Standard status
Active
Size
7,400 SF
Total Parking Spaces
10
Property subtype
Office
Zoning
DDD
Building Details
Year Built
1924
Year Renovated
2007
Stories
3
Tenancy
Multi
Listing Agency:
Dawson Commercial Brokers
Listed By:
Stephen Sprague · License #BR927284
(207) 319-8129
Source:
Crexi
Added: Mar 10
Changed: Aug 21
Last Checked: Oct 10 at 1:35AM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$104,607
Cap Rate
8.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,092,140
$2.1M
Cap Rate 7%
$1,494,386
$1.5M
Cap Rate 9%
$1,162,300
$1.2M
Market Conditions
NOI Build-Up for 7,400 SF
Gross rent
$159.8K $21.60/SF
− Vacancy
−$20.4K −$2.75/SF
EGI
$139.5K $18.85/SF
− OpEx
−$34.9K −$4.71/SF
NOI
$104.6K $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%
$2,092,140
Cap Rate 7%
$1,494,386
Cap Rate 9%
$1,162,300
Alternative Uses
Best Use
Office B
$1.49M
$1.31M – $1.74M
NOI $104,607 @ 7.0% cap · market cap 8.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,299 @ 7.0% cap · market cap 14.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,977
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
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 $1,169,000.
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.
