Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    489 State St Bangor, ME 04401-6616
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    489 State St Bangor, ME 04401-6616

    View on Map
    • Specialty properties
    • 183,335 SF
    • 16.91 lot acres
    Off-Market
    Property ID
    US42-0604955
    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.
    Value Estimations
    $16,975,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Eastern Maine Medical Center: Gill Jr Paul G MD / Physician
    • Carpenter Kevin MD / General Contractor
    • Linn Joel M / Law Firm
    • Mc Garvey Niall M MD / Physician
    • Santilli Laura E / Physician / Medical Clinic

    Property Details for 489 State St

    Lot size
    16.91 lot acres
    Property size
    183,335 SF
    Zone code
    G&ISD
    Property type
    Specialty properties
    APN
    BANG M:059 L:025 U:489-0
    APU
    BANGM059L025U4890

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $16,976,000
      Market price range: $9.22M - $28.9M

    • Alternative Use

      Use
      Estimation
      CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
      $16,975,000
      Current use
      AUTO REPAIR, GARAGE
      $17,760,000
      Change: +5% Conversion: Difficult
      RESTAURANT
      $17,285,000
      Change: +2% Conversion: Difficult
      OFFICE BUILDING
      $15,790,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Bangor
    County
    Penobscot
    State
    Maine
    Longitude
    -68.7501
    Latitude
    44.8088
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $10,110,000
      146,924 SF

      297 Ctr St

      CHARITABLE ORGANIZATION • 146,924 SF
      297 Ctr St, Bangor, ME 04401-3893
      View Details
    • Value Estimation by Request

      489 State St, Unit 3

      CHARITABLE ORGANIZATION
      489 State St, Bangor, ME 04401-6616
      View Details
    • Value Estimation
      $665,000
      5,444 SF

      489 State St, Unit 5

      CHARITABLE ORGANIZATION • 5,444 SF
      489 State St, Bangor, ME 04401-6616
      View Details
    • Value Estimation by Request
      13.73 Acres

      Stillwater Ave

      CHARITABLE ORGANIZATION • 13.73 Acres
      Stillwater Ave, Bangor, ME 04401
      View Details
    • Value Estimation by Request
      4,731 SF

      325 Ctr St

      CHARITABLE ORGANIZATION • 4,731 SF
      325 Ctr St, Bangor, ME 04401-3855
      View Details
    • Value Estimation by Request
      3,676 SF

      53 Charles St

      CHARITABLE ORGANIZATION • 3,676 SF
      53 Charles St, Bangor, ME 04401-4675
      View Details

    Similar Nearby for Sale

    • $49,000
      354,578.00 Acres

      Glenburn, ME Land Opportunity

      8.14 acre lot suitable for building or future development.
      7-46-9 Clewley Rd, Glenburn, ME 04401
      View Details
    • $314,900
      0.11 Acres

      Bangor Multifamily Investment Opportunity

      Two-unit property in Bangor, ideal for investors or owner-occupants.
      144 3Rd St, Bangor, ME 04401
      View Details
    • $975,000
      16,496 SF

      Downtown Bangor Mixed-Use Gem

      High-Income Potential, 16,000+ sq ft
      190 Harlow St St, Bangor, ME 04401
      View Details
    • $349,000
      39.86 Acres

      Versatile Land Parcel in Bangor

      40-acre land parcel with development opportunities in Bangor, Maine.
      1677 Ohio St, Bangor, ME 04401
      View Details
    • $595,000
      5,568 SF

      Bangor Commercial Building with Visibility

      Commercial building with high visibility, functional space, and pylon sign.
      1567 Hammond St, Bangor, ME 04401
      View Details
    • $59,000
      2.29 Acres

      Wooded Lot in Bangor, Maine

      Wooded, surveyed lot ready for building near Bangor amenities.
      95 #8 Pne Ledge Rd, Bangor, ME 04401
      View Details

    Similar Nearby for Lease

    • Sponsored
      New
      Contact for pricing

      ME, Bangor - Main Street

      Discover many ways to work your way in ME, Bangor - Main Street
      700 Main St, Bangor, ME 04401
      View Details
    • 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
    • Contact for pricing
      12,500 SF

      Flexible Office Space Available

      Non-profit incubator and office space for rent.
      262 Harlow St, Bangor, ME 04401
      View Details
    • Contact for pricing

      Land Lease on Bangor Mall

      Prime development site available for lease near Bangor Mall.
      109 Bangor Mall Blvd, 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
    • Contact for pricing
      1,273 SF

      Downtown Bangor Office Space Available

      Class A office space with parking and panoramic views.
      23 Water St, Bangor, ME 04401
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    489 State St
    Bangor, ME 04401-6616
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!