Bangor region 13+ cap Prime Office/ Commercial Building

Office for Sale
Catylist Listing ID: 30852269
Property Subtypes: Executive Suites, Office Building, General
Building Size (RSF): 20,090 SF
Gross Building Area: See Agent
Sale Price: $950,000
Unit Price: $47.29 PSF
Property Use Type: Investment, Vacant/Owner-User
Building Name: 15 Iron Rd
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/25/2023

Overview / Comments

Former Pan Am Railroad corporate offices. Now Priced at a 13 cap+/- Great location. Close of major highways, airport. There are four leases in effect: USDA leases 7500 sf and pays $91000/year modified gross. Tenant recently extended lease with increased terms. New leases signed with. Railroad cell tower $2000/month and the US Boarder Patrol now pays $1500/month In addition the garage operator pays $450/month for the small garage. The Property offers significant upside potential with 10,000 sf of available space to be rented. The property also includes a 2+/- acre lot which can be sold or developed.

Additional Details

Nearest MSA: Bangor
County: Penobscot
Tax ID/APN: 015-034-000
Property Visibility: Excellent
Site Description: property type: Off Ind Flex Parking: Ample on-site HVAC: HVAC Const.Type: Steel framed, masonry
Total Number of Buildings: 4
Number of Stories: 2
Construction/Siding: Brick, Stone
Parking Type: Surface
Parking Description: On site paved
Sprinklers: None
Heat Type: Natural Gas
Zoning Description: Commercial/ Business
Water Service: Well
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 9,374 42,282
Median Age: 42.93 37.2
Households: 4,095 18,319


Photograph of Listing Agent

Robert Baldacci

FO Bailey Real Estate
NECPE Member
Photograph of Listing Agent

David J Jones

F.O. Bailey Real Estate
NECPE Member
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