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    Assisted Living Group Home Title is generated by Realmo AI

    913 Essex Street, Bangor, ME 04401

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    For Sale
    $829,900

    MULTI_FAMILY - Other - Bangor, ME

    Property size:
    3,788 SF
    Lot size:
    1.05 Acres
    Price / SF:
    $219/SF
    Added:
    Jun 5, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 6 at 9:06 am

    Property Features for 913 Essex Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    LDR + RR&A
    Bathrooms
    3
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3
    Patio and Porch features
    Porch
    Interior features
    1st Floor Bedroom, Bathtub, One-Floor Living, Pantry, Shower, Storage
    Fencing
    Fenced
    Basement
    Full, Sump Pump
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    Size
    3,788 SF
    Lot size
    1.05 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    8045

    Utilities

    Sewer type
    Septic Tank, Private Sewer
    Heating system
    Baseboard, Zoned, Hot Water(Heating), Oil
    Water source
    Public

    Building Details

    Year built
    1967
    Number of units
    1
    Flooring type
    Vinyl, Wood, Laminate, Linoleum
    Building materials
    Wood Frame, Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Tara Roy

    Listing agent Tara Roy

    Listing office EXP Realty 41 Hutchins Drive Building 3, Rangeley, ME

    Listing date Jun 5, 2026

    MLS# 1646903 Listing URL

    Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Located on 1 acre in Bangor; currently configured for group‑home or supported living use with 8+ bedrooms
    • Includes 3 full bathrooms and 7 half baths, plus 3 large gathering spaces and multiple private offices for staff
    • Established long‑term tenant in place, providing predictable income
    • Major updates: renovated kitchen completed in 2025 and new boiler installed in 2024
    • Accessible approach with ramp and one‑floor living; includes first‑floor bedroom
    • Public water with private sewer (septic tank); fenced backyard and ample off‑street parking

    Overview

    This expansive assisted living and supported living group home is currently configured for group-home or high-occupancy residential use, featuring 8+ bedrooms, three large gathering spaces, and multiple private offices for staff. The home includes three full bathrooms and seven half baths arranged across a layout intended for shared living environments. On-site improvements include a renovated kitchen completed in 2025 and a new boiler installed in 2024.

    Set on 1.05 acres in Bangor, Maine, the property offers ample off-street parking to support daily operations and resident access. A private fenced backyard provides secured outdoor space, an important amenity for group living environments. The central setting is described as convenient for access to shopping, services, medical facilities, and major transportation routes in the Bangor area.

    For tenants, buyers, and operators, the interior arrangement supports staffing and resident programming with dedicated offices and multiple shared spaces. For owner-occupant organizations, the current configuration may reduce upfront buildout needs for supported living operations, while the presence of a long-term tenant is noted for those considering income-producing ownership. Additional details are available to qualified purchasers; contact an agent for more information.
    Property Profile Location Intelligence

    Current Use by Public Records

    Assisted living facilities

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Park East Retirement Villa — 321 Stillwater Ave, Bangor, ME 04401
    • Pleasant Park Manor — 300 Stillwater Ave, Bangor, ME 04401
    • Bangor Long Tern Care — 711 Broadway, Bangor, ME 04401
    • Home Health & Hospice — 900 broadway # 2, bangor, me 04401

    Location Insight

    • Map
    • Local Demand
    City
    Bangor
    County
    Penobscot
    State
    Maine
    Longitude
    -68.770262
    Latitude
    44.832081

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    FAQs

    What type of property is this?
    Assisted living facility - Well-configured supported living facility with group spaces, staff offices, and fenced outdoor area for resident use.
    Where is this assisted living facility located?
    The property is located at 913 Essex Street Bangor, ME.
    What is the asking price?
    The asking price for this property is $829,900.
    What are key features of this property?
    This property features: Located on 1 acre in Bangor; currently configured for group‑home or supported living use with 8+ bedrooms; Includes 3 full bathrooms and 7 half baths, plus 3 large gathering spaces and multiple private offices for staff; Established long‑term tenant in place, providing predictable income
    (207) 991-8272
    We can help!
    Listing Contact
    Tara Roy
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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