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Property profile & analytics
OFF-MARKET
Turn key restaurants
120 Griffin Rd Bangor, ME 04401-2925
Individually Owned
19-yr Hold
~
Est. High Equity
Property ID
US42-0008303
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2007
Total area
5,032 SF
Lot
0.9 ac (39,204 SF)
Zoning code
NSD
APN
BANG M:R23 L:012-A
UPID
US42-0008303
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Asian Palace II Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Palace 2 Asian · 19 yrs held
Palace 2 Asian
since 2007
1 recorded transaction
Zoning & alternative use
NSD · Bangor, ME
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
parking structure or any expansion of such parking facility or lot. (4) Filling, grading and earthmoving activities if a land development permit is required under § 165-33 . (5) Any use, including permitted uses, in the NSD, USD, DDD, WDD, ADD (except for airport traffic control and direct aviation support uses), BPD, UID, G & ISD, S & PS, GC & S, T & S and…
Zone name
Neighborhood Service District
General category
MIXED_USE
Zone area
28.23 ac
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Bangor submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bangor submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$10,730
Tax year 2023
Assessed value
$560,300
Assessed 2023
Previous assessed
$519,000
+8.0% YoY
Effective rate
1.92%
On assessed value
Assessed land
$89,500
Assessed improvement
$470,800
Applied tax rate
2,795.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2007
Heating
SPACE
Stories
2
Units
2
Rooms
6
Total area
5,032 SF
Lot
0.9 ac (39,204 SF)
Zoning code
NSD
APN
BANG M:R23 L:012-A
UPID
US42-0008303
Jurisdiction
BANGOR
Zoning & alternative use
NSD · Bangor, MEZoning NSD · permitted uses
NSD · Bangor, ME
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
parking structure or any expansion of such parking facility or lot. (4) Filling, grading and earthmoving activities if a land development permit is required under § 165-33 . (5) Any use, including permitted uses, in the NSD, USD, DDD, WDD, ADD (except for airport traffic control and direct aviation support uses), BPD, UID, G & ISD, S & PS, GC & S, T & S and I & S Districts (as defined in Articles XIII , XIV and XV of this chapter). (6) Any
Zone name
Neighborhood Service District
General category
MIXED_USE
Zone area
28.23 ac
Building & site characteristics
From public records
Year built
2007
Heating
SPACE
Stories
2
Units
2
Rooms
6
Lot
0.9 ac
Current owner
From public records · entity-resolved
Palace 2 Asian
Individual
Mailing address
431 ESSEX ST, BANGOR, ME 04401-3934
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 24, 2007
—
Palace 2 Asian
Chan,xu Rong
Grant Deed
$350,000 · Camden National Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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