700 Mount Hope AveBangor, ME 04401

Property Details for 700 Mount Hope Ave

Year built

1984

Lot size

2.85 AC

Property size (Sq ft)

8,920 SF

Zone code

S&PS

Property type

Office properties

APN

BANG M:R70 L:015 U:700-1&2

APU

BANGMR70L015U70012

Description

This exceptional 9,928 square foot freestanding office building presents a unique investment opportunity in Bangor, Maine. Constructed in 1984 and renovated in 2003, the property boasts a substantial footprint situated on a generous 2.85-acre lot. The building is part of the professionally managed Evergreen Woods office condominium complex, ensuring a well-maintained and desirable environment. The complex enjoys a diverse tenant base, including medical, dental, legal, counseling, and primary care practices, creating a thriving and collaborative atmosphere. Its strategic location offers convenient access to major transportation arteries, being just one mile from Interstate 95 (exit 187), providing excellent accessibility for employees and clients alike. The building's 8,920 square feet of usable space offers ample room for a variety of business needs, making it an ideal location for established businesses seeking expansion or new ventures looking for a prestigious address. The property's size and location within a well-established office complex make it a highly attractive proposition for investors and businesses seeking a prominent presence in the Bangor area. This is a rare opportunity to acquire a substantial and well-maintained office building in a prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,474,742

  6.5%

  $1,361,301

  7%

  $1,264,065

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,165,487

  Geo Method

  $1,165,487

• Alternative Use

  Use

  Valuation

  Residential

  $1,688,013

  Hospitality

  $1,546,211

  Educational

  $1,286,429

  Medical

  $1,330,672

  Retail

  $2,001,112

Location Insight

City

Bangor

County

Penobscot

State

Maine

Latitude

44.8269

Longitude

-68.7363

CBSA code

12620

CBSA name

BANGOR, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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