Property summary
This exceptional 5-acre commercial property at 961 Union Street in Bangor, Maine, presents a unique investment opportunity. Boasting 280 feet of frontage on Union Street, this high-traffic location offers unparalleled visibility and accessibility. The property includes a substantial 7,200 square foot storage building equipped with four convenient loading docks, ideal for various commercial uses. The existing structure provides immediate income potential or a solid foundation for redevelopment. The expansive acreage allows for a multitude of development possibilities, from expanding the existing building to constructing new structures. Its proximity to the Bangor airport further enhances its appeal. The zoning currently permits commercial use, but the potential for a zone change opens up exciting possibilities for residential development, including hotels, retail spaces, or multi-unit residential buildings. This rare, large in-town lot offers a blank canvas for creative entrepreneurs and developers seeking a prime location in a thriving Maine city. The possibilities are truly limitless. This is a rare opportunity to acquire a significant piece of Bangor real estate with exceptional potential for growth and return on investment.
Property profile
VerifiedCap rate & NOI
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
S&PS · Bangor, MEZoning
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Zoning designation
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The district profile from the municipal source: what is on file for S&PS in Bangor, ME.
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