38 School St

Fedcap

Address: 38 School Street, Bangor, ME 04401 Purchase Price: $1,675,000 Landlord/Seller Entity: ACME LLC Assessors Reference: Map R41, Lot 25 Zoning Description: Shopping and Personal Service District (S/PS) Building Size: 11,000± SF Total Land Size: 0.84± acres Year Built: 1960 Stories: 1 Construction Type and Exterior Siding: Steel frame construction with pre-finished metal siding; metal roof with standing seam finish Roof Type and Material: Gable roof, standing seam metal Parking: 40± paved surface spaces (3.64 per 1,000 SF GBA) Sprinkler System: 100% Wet System HVAC: Natural gas blowers; package units providing heating and central A/C Tenancy Type: Single-tenant Tenant Overview: Fedcap, Inc. Fedcap, Inc. is a nonprofit organization focused on workforce development, education, and social services across the U.S. The organization partners with state and local governments to provide employment readiness, vocational training, and rehabilitation programs to underserved populations. Its presence in Bangor represents an expansion of professional office and support service space in a market historically dominated by healthcare and education employers. Under the terms of the lease, Fedcap occupies the entire 11,000± SF building on a 7-year (86-month) lease term, beginning November 1, 2024, at a base rental rate of $12/SF NNN with 3% annual escalations. Tenant improvements total $550,000 ($50/SF), reimbursed to the landlord at 8% interest via monthly payments over the lease term Listing Description: A prime investment opportunity located less than half a mile from I-95 (Exit 185) in one of Bangor’s most active retail corridors. The property sits just off Broadway, surrounded by major national tenants including Hannaford, Planet Fitness, HomeGoods, TJ Maxx, and Starbucks. The 11,000± SF single-story steel-frame structure, formerly a retail/industrial facility, has completed a full interior renovation to accommodate Fedcap’s office operations. The improvements include upgraded building systems, ADA compliance, and high-efficiency natural gas HVAC. With excellent visibility, ample on-site parking, and immediate proximity to Bangor’s primary commercial arterials, 38 School Street offers investors a stabilized, long-term leased asset in a thriving submarket characterized by limited office supply and strong tenant demand.