1570 BroadwayBangor, ME 04401

Property Details for 1570 Broadway

Year built

1979

Lot size

1.83 AC

Property size (Sq ft)

6,170 SF

Zone code

G&ISD

Property type

Office properties

Property subtype

Office buildings

APN

BANG M:R31 L:014

APU

BANGMR31L014

Description

This remarkable, passive solar-designed office/medical building offers a unique and efficient heating system. The building's innovative design utilizes natural airflow and solar energy (approximately 40,000+ BTUs) for heating, supplemented by heat pumps and a propane fireplace in the spacious Great Room. The versatile floor plan includes bathrooms on both floors, large open conference areas, numerous individual office suites, and ample storage throughout. Two fire escapes enhance second-floor safety. Conveniently situated at the edge of Bangor's retail and shopping district, the property boasts two entrances/exits and over 40 parking spaces. Currently zoned G&ISD, its location offers potential for expansion given its proximity to the Shopping & Personal Services District across Broadway. City records indicate a building size of approximately 6,510 square feet (4,578 sq ft on the first floor and 1,932 sq ft on the second floor). The 1.83-acre lot (Map/Lot: R31-14) presents an exceptional opportunity. The sale includes the potential to acquire two additional adjacent lots (Map/Lot R31-14C & 14D), each approximately 1.96 acres and zoned RRA, for a total of approximately 5.75 acres. This presents a significant expansion opportunity for the right buyer.

• CAP approach

  CAP return

  Valuation

  6%

  $1,020,085

  6.5%

  $941,617

  7%

  $874,359

• Comparable approach

  Method

  Valuation

  Relative Method

  $806,172

  Geo Method

  $806,172

• Alternative Use

  Use

  Valuation

  Residential

  $1,167,605

  Hospitality

  $1,069,520

  Educational

  $889,828

  Medical

  $920,431

  Retail

  $1,384,177

Location Insight

City

Bangor

County

Penobscot

State

Maine

Latitude

44.846

Longitude

-68.8033

CBSA code

12620

CBSA name

BANGOR, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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