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    Property profile & analytics

    289 Broadway Bangor, ME 04401-3925

    • Retail space
    • 5,252 SF
    • 0.16 lot acres
    OFF-MARKET
    Value Estimations
    $575,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US42-0904129
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Superstar Nails / Nail Salon

    Property Details for 289 Broadway

    Year built
    1903
    Lot size
    0.16 lot acres
    Property size
    5,252 SF
    Zone code
    NSD
    Property type
    Retail space
    APN
    BANG M:046 L:057
    APU
    BANGM046L057

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $730,000
      6.5%
      $675,000
      7%
      $630,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $493,000
      Market price range: $182k - $500k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $540,000
      Current use
      COMMERCIAL (GENERAL)
      $585,000
      Change: +8% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bangor
    County
    Penobscot
    State
    Maine
    Longitude
    -68.7698
    Latitude
    44.8124
    CBSA code
    12620
    CBSA name
    BANGOR, ME METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $10,063
    $31,700
    $493,800
    $525,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,380,000
      19,736 SF

      1161 Broadway

      RETAIL STORES (PERSONAL SERVICES) • 19,736 SF
      1161 Broadway, Bangor, ME 04401-2534
      View Details
    • Value Estimation by Request
      364 SF

      601 Hammond St

      RETAIL STORES (PERSONAL SERVICES) • 364 SF
      601 Hammond St, Bangor, ME 04401-4513
      View Details
    • Value Estimation
      $1,020,000
      9,136 SF

      190 Harlow St

      RETAIL STORES (PERSONAL SERVICES) • 9,136 SF
      190 Harlow St, Bangor, ME 04401-9104
      View Details
    • Value Estimation
      $6,875,000
      59,922 SF

      46 Springer Dr

      RETAIL STORES (PERSONAL SERVICES) • 59,922 SF
      46 Springer Dr, Bangor, ME 04401-3621
      View Details
    • Value Estimation by Request
      1,232 SF

      631 Hammond St

      RETAIL STORES (PERSONAL SERVICES) • 1,232 SF
      631 Hammond St, Bangor, ME 04401-4514
      View Details
    • Value Estimation by Request
      3,885 SF

      633 Hogan Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,885 SF
      633 Hogan Rd, Bangor, ME 04401-3603
      View Details

    Similar Nearby for Sale

    • $250,000
      3,010 SF

      Bangor Mixed-Use Investment Opportunity

      State Street mixed-use building with retail and residential potential.
      163 State Street Ave, Bangor, ME 04401
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    • $2,600,000
      25,830 SF

      Bangor Mall Retail Opportunity

      Prime Bangor storefront, 25,830 SF.
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    • $250,000
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      State Street Mixed-Use Opportunity

      Mixed-use building with retail space and a two-bedroom apartment.
      163 State Street Ave, Bangor, ME 04401
      View Details
    • $1,199,000
      18,500 SF

      Versatile Commercial Building in Bangor

      Commercial building with retail, storage, and residential units in Bangor.
      569 Hammond St, Bangor, ME 04401
      View Details
    • $420,000
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      Updated Commercial Building in Bangor

      Modern commercial building with showroom, office, and garage space.
      1555 Hammond St, Bangor, ME 04401
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    • $595,000
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      High-Visibility Commercial Building in Bangor

      Versatile commercial building with high visibility and functional space.
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    Similar Nearby for Lease

    • Contact for pricing
      810 SF

      Retail Space Near I-95

      810 SF retail space with strong national tenancy.
      516 Stillwater Ave, Bangor, ME 04401
      View Details
    • $14 SF/Yr
      8,015 SF

      Retail Space in Stillwater Avenue

      In-line retail space with central AC and garage access.
      1008-1026 Stillwater Ave, Bangor, ME 04401
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space at Airport Mall

      Retail spaces available at a well-located shopping center.
      1129 Union St, Bangor, ME 04401
      View Details
    • Contact for pricing
      1,875 SF

      Retail Space Near Bangor Mall

      Retail spaces available in multi-phased development near Bangor Mall.
      570 Stillwater Ave, Bangor, ME 04401
      View Details
    • $144 SF/Yr
      28,837 SF

      Prime Bangor Commercial Space

      Iconic building, 28,837 sq ft, fully vacant.
      586 Main St, Bangor, ME 04401
      View Details
    • Contact for pricing
      31,154 SF

      Bangor Mall Entrance Retail Space

      31,154 SF retail space at Bangor Mall entrance.
      6 Bangor Mall Blvd, Bangor, ME 04401
      View Details
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    289 Broadway
    Bangor, ME 04401-3925
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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.

    More about this property
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