720 Broadway Bangor, ME 04401

Property Details for 720 Broadway

Year built

1984

Lot size

1.89 lot acres

Property size

17,800 SF

Zone code

S&PS

Property type

Retail space

APN

BANG M:R41 L:003-C

APU

BANGMR41L003C

Description

This exceptional investment opportunity presents a 17,800 square foot, multi-tenanted commercial building situated on a 1.89-acre lot at 720 Broadway in Bangor, Maine. Currently 100% leased, the property boasts a diverse tenant mix including Advance Auto, Subway, Pine State Nutrition, Game Citadel, and Marijuanaville. The main 16,000 square foot building features a steel frame construction, while an 1,800 square foot addition is built with a wood frame on a concrete slab and a pre-engineered asphalt shingle roof. Recent renovations and updates throughout the building include new HVAC units in each unit, all completed within the past two years. The building is fully sprinklered and exceptionally well-maintained. Significant upside potential exists due to below-market rents on some leases, offering substantial NOI growth opportunities over the next five years through lease renewals. The property benefits from a cross easement with Walgreens Pharmacy, and enjoys a prime location with high visibility alongside other major retailers such as Hannaford Supermarket, T.J. Maxx, U.S. Cellular, and Katahdin Trust. This property offers an investor the chance to capitalize on tax benefits and strong income growth in a highly desirable location. The asking price is $3,299,000.

Location Insight

City

Bangor

County

Penobscot

State

Maine

Longitude

-68.7817

Latitude

44.8248

CBSA code

12620

CBSA name

BANGOR, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments