Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    700 Mt Hope Ave, Unit 24 Bangor, ME 04401-5691
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    700 Mt Hope Ave, Unit 24 Bangor, ME 04401-5691

    View on Map
    • Office properties & Spaces
    • 2,048 SF
    • 0.59 lot acres
    Off-Market
    Last Sale Jul 25, 2023
    $695,000
    Property ID
    US42-0419176
    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
    $760,000
    Show details
    Cap Rate Potential
    3.2%
    Office properties & Spaces
    Location Intelligence

    Current Use by Public Records

    • Tyler Technologies / (Bike/Boat/Book/etc) Store / Corporate Office
    • David Chase Law / Law Firm
    • Mac Donald William E / Law Firm
    • Tensegrity Health & Aesthetics / Medical Clinic / Skin Care Clinic
    • Macdonald Chase & Dufour: Holland Elaine M / Law Firm

    Property Details for 700 Mt Hope Ave

    Year built
    1988
    Lot size
    0.59 lot acres
    Property size
    2,048 SF
    Zone code
    S&PS
    Property type
    Office properties & Spaces
    APN
    BANG M:R70 L:015 U:700-24
    APU
    BANGMR70L015U70024

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $980,000
      ML approach
      $950,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $515,000
      6.5%
      $475,000
      7%
      $440,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Bangor
    County
    Penobscot
    State
    Maine
    Longitude
    -68.7363
    Latitude
    44.8269
    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
    $4,022
    $62,100
    $147,900
    $210,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,426 SF

      34 Penn Plz53b

      CONDOMINIUM OFFICES • 2,426 SF
      34 Penn Plz53b, Bangor, ME 04401-3620
      View Details
    • Value Estimation by Request
      4,313 SF

      115 Franklin St Ste 1b

      CONDOMINIUM OFFICES • 4,313 SF
      115 Franklin St Ste 1b, Bangor, ME 04401-4973
      View Details
    • Value Estimation by Request
      16,701 SF

      152 Main St

      Restaurants • 16,701 SF
      152 Main St, Bangor, ME 04401
      View Details
    • Value Estimation
      $1,720,000
      12,699 SF

      417 State St Ste, Unit 141

      CONDOMINIUM OFFICES • 12,699 SF
      417 State St Ste, Bangor, ME 04401-6634
      View Details
    • Value Estimation
      $685,000
      4,998 SF

      417 State St Ste 142b

      CONDOMINIUM OFFICES • 4,998 SF
      417 State St Ste 142b, Bangor, ME 04401-6630
      View Details
    • Value Estimation by Request
      2,422 SF

      417 State St, Unit 301

      CONDOMINIUM OFFICES • 2,422 SF
      417 State St, Bangor, ME 04401-6630
      View Details

    Similar Nearby for Sale

    • New
      $659,900
      6,030 SF

      Historic Mixed-Use Investment Opportunity

      Five-unit property with commercial space and residential apartments in Bangor.
      77 Broadway, Bangor, ME 04401
      View Details
    • New
      $659,900
      6,030 SF

      Historic Mixed-Use Investment Opportunity

      Five-unit property in Bangor's historic district with income potential.
      77 Broadway, Bangor, ME 04401
      View Details
    • $850,000
      6,170 SF

      Passive Solar Office/Medical Building

      Unique office/medical building with passive solar design and versatile floorplan.
      1570 Broadway, Bangor, ME 04401
      View Details
    • $595,000
      5,568 SF

      High-Visibility Commercial Building in Bangor

      Versatile commercial building with high visibility and functional space.
      1567 Hammond St, Bangor, ME 04401
      View Details
    • Contact for pricing
      1,062 SF

      Prime Mixed-Use Opportunity on Broadway

      Meticulously updated mixed-use building with high visibility and modern infrastructure.
      546 Broadway, Bangor, ME 04401
      View Details
    • $250,000
      3,010 SF

      Bangor Mixed-Use Investment Opportunity

      Versatile commercial building with apartment and off-street parking.
      163 State Street Ave, Bangor, ME 04401
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Bangor Mall Pad Site Available

      0.48 acre pad site for lease at Bangor Mall.
      663 Stillwater Ave & Bangor Mall Blvd, 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
      1,650 SF

      Freestanding Office Building For Rent

      Freestanding office building with ample parking and natural light.
      56 Banair Rd, 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
      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
    • $15 SF/Yr
      3,927 SF

      Renovated Class A Office Space

      Class A office space for rent with planned renovations.
      700 Main 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.
    700 Mt Hope Ave, Unit 24
    Bangor, ME 04401-5691
    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!