21 Washington StBangor, ME 04401

Property Details for 21 Washington St

Year built

1969

Lot size

2.64 AC

Property size (Sq ft)

10,000 SF

Zone code

DDD

Property type

Retail space

APN

BANG M:050 L:017-21

APU

BANGM050L01721

Description

This exceptional commercial property, located at 21 Washington Street in Bangor, Maine's vibrant Downtown Development District, presents a unique investment opportunity. Situated within Penobscot Plaza, this single-tenant, 9,672 square foot office building offers unparalleled visibility and accessibility. Built in 1969 and extensively renovated in 2016, the property features a spacious main showroom (approximately 103 feet by 55 feet) with impressive 18-foot ceilings. Additional space includes a former cooler area (13 feet by 73 feet), a back hallway, ample storage, an office, two upstairs bathrooms, a main-level ADA-compliant bathroom, and a convenient lunchroom. A large receiving door enhances logistical efficiency. The property sits on a 0.23-acre lot and includes 15 paved parking spaces, a significant advantage in a bustling downtown location. The building is classified as Class B and is conveniently located within walking distance of the Darling's Waterfront Pavilion. Zoned for the Downtown Development District, this property offers a versatile space suitable for a variety of office uses. The building is a single-story structure with a 16-foot ceiling height. This is a rare opportunity to acquire a well-maintained, established commercial property in a prime Bangor location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,430,349

  6.5%

  $2,243,399

  7%

  $2,083,156

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,292,632

  Geo Method

  $3,292,632

• Alternative Use

  Use

  Valuation

  Residential

  $1,892,391

  Hospitality

  $1,733,420

  Educational

  $1,442,185

  Medical

  $1,491,784

  Retail

  $2,243,399

Location Insight

City

Bangor

County

Penobscot

State

Maine

Latitude

44.7991

Longitude

-68.7679

CBSA code

12620

CBSA name

BANGOR, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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