277 STATE ST BANGOR ME 04401-5439
Historic Office Building | 17,450 sqft | 100% Leased
Marketing description
The Crosby House at 277 State Street, a fully leased historic office investment opportunity located in the heart of Bangor’s established professional and business district.
The Crosby House represents a rare opportunity to acquire a stabilized, income-producing asset combining historic character, durable occupancy, and measurable future income growth. Positioned along one of Bangor’s most recognizable commercial corridors, the property provides immediate cash flow supported by a diverse tenant base and long-term investment fundamentals.
Currently operating at 100% occupancy, the asset offers investors dependable in-place income while presenting a clear opportunity to enhance returns through strategic lease management. Several suites are leased below prevailing market rates, creating embedded upside through future lease renewals and mark-to-market rent adjustments.
Investment highlights
Investment Highlights
• Historic office building with established identity and strong street presence
• 100% leased providing immediate and stable cash flow
• Offered at an attractive 7.0% capitalization rate
• Embedded rental growth through select below-market lease positions
• Diverse tenant profile supporting income stability
• Located within Bangor’s core professional office corridor with convenient access to downtown amenities, healthcare, legal, financial, and business services
• Opportunity to increase Net Operating Income through active asset management while preserving occupancy
The Crosby House offers investors the ability to acquire a stabilized office asset with historical significance, strong current performance, and identifiable value creation potential—an increasingly scarce combination in today’s office investment market.
Offering materials, financials, and rent roll available upon request.
Currently operating at 100% occupancy, the asset offers investors dependable in-place income while presenting a clear opportunity to enhance returns through strategic lease management. Several suites are leased below prevailing market rates, creating embedded upside through future lease renewals and mark-to-market rent adjustments.
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