133 BroadwayBangor, ME 04401

Property Details for 133 Broadway

Year built

1870

Lot size

0.44 AC

Property size (Sq ft)

7,422 SF

Zone code

M&SD

Property type

Office properties

Property subtype

Office buildings

APN

BANG M:048 L:150

APU

BANGM048L150

Description

This exceptional mixed-use property at 133 Broadway in Bangor, Maine, presents a unique investment opportunity. The 7,422 square foot building boasts a rich history, beautifully preserved with original hardwood floors and woodwork. The property includes a former law office, readily available for use or lease, featuring multiple private offices, several conference rooms, and private bathrooms. A convenient private parking lot is also included on the 0.44-acre lot. Currently, the building generates six-figure annual cash flow from a combination of professional tenants and a licensed Airbnb apartment. Significant upside potential exists through the addition of further tenants. The building is equipped with a modern heating system, incorporating a new backup boiler and heat pumps throughout, ensuring efficient and reliable climate control. This meticulously maintained property offers a blend of historical charm and modern functionality, making it an ideal investment for discerning buyers seeking a strong return on investment in a desirable Maine location. The existing tenant base provides immediate income, while the ample space and versatile layout allow for expansion and customization to suit various business needs. This is a rare opportunity to acquire a substantial, income-producing property in the heart of Bangor.

• CAP approach

  CAP return

  Valuation

  6%

  $1,227,078

  6.5%

  $1,132,688

  7%

  $1,051,781

• Comparable approach

  Method

  Valuation

  Relative Method

  $969,758

  Geo Method

  $969,758

• Alternative Use

  Use

  Valuation

  Residential

  $1,404,533

  Hospitality

  $1,286,544

  Educational

  $1,070,390

  Medical

  $1,107,202

  Retail

  $1,665,051

Location Insight

City

Bangor

County

Penobscot

State

Maine

Latitude

44.8068

Longitude

-68.7681

CBSA code

12620

CBSA name

BANGOR, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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