720 Broadway

Bangor, ME 04401
Square Ft.
17,800
$3,299,000
100% leased multi-tenanted building located on busy Broadway. Tenants include Advance Auto, Subway, Pine State Nutrition, Game Citadel and Marijuanaville. Main building is a 16,000/sf steel frame with an 1,800/sf addition which is a wood frame structure on a concrete slab with pre-engineered roof structure finished with an asphalt shingle roof. Some of the rents being charged are below market rates. NOI can easily be increased over the next five years with lease renewals increasing NOI. Owner has completely renovated and updated building and property. Building is fully sprinklered. Each unit has its own HVAC units. All units have been updated within the past two years or so. Building and property have both been well maintained. Cross easement to and from Walgreens Pharmacy. Neighboring tenants include Walgreens Pharmacy, Hannaford Supermarket, T.J. Maxx, U.S. Cellular and Katahdin Trust. This is truly an opportunity for an investor looking for tax benefits and growth in income. Location is phenomenal with high traffic visibility.
Market LogoCourtesy of SVN The Masiello Group 207-596-6095
Listing Snapshot
Days Online
115
Last Updated
Property Type
Investment
Square Ft.
17,800
Lot Size
1.89 Acres
Year Built
1984
MLS Number
1612720
Additional Details
Basement
Basement: "None"
Building
Building Area Total: 17,800, Building Features: "Sprinkler - Wet", Construction Materials: "Metal Clad", "Steel Frame", "Wood Frame", Year Built: 1984, 1 story
Cooling
Cooling Included, Cooling: "Central Air"
Floors
Flooring: "Vinyl", "Concrete"
Foundation
Foundation Details: "Concrete Perimeter", "Slab"
Heating
Heating: "Forced Air", "Direct Vent Furnace", Heating Included
Lot
Features: "Near Turnpike/Interstate", "Business District", "Retail Strip", 1.89 acres, Area: 1.89, 82,328 square feet
Parking
Features: "21+ Spaces", "On Site", "Paved"
Property
Business Type: "Freestanding Building", "Retail", Parcel Number: BANG-000041R-000000-000003-C000000, Property Sub Type: Investment, Zoning: S & PS
Roof
Roof: "Metal", "Shingle"
Sewer
Sewer: "Public Sewer"
Taxes
Annual Amount: $32,140, Tax Lot: 3-C
Utilities
Electric: "Circuit Breakers", Water Source: "Public"
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30 Days Snapshot Of 04401
$297k
-6%
(avg) sold price
25
-26%
homes sold
40
0%
(avg) days on market
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Fred Andrews
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Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.