Auburn Mall 550 Center St 344,369 SF 83% Leased Retail Building Auburn, ME 04210 $18,000,000 ($52.27/SF)

EXECUTIVE SUMMARY

• Rare opportunity to purchase an enclosed Mall with redevelopment potential and additional outparcels at substantially below replacement cost.
• Classic department store anchored Mall with J.C. Penney and other notable tenants including Books-A-Million, Bath & Body Works, Game Zone, Spencer's, and GNC to name a few.
• Tremendous redevelopment upside given pending vacancy of the other 60,000 sf anchor, currently occupied by TD Bank.
• The Auburn Mall is in the heart of the retail landscape for central Maine. Lewiston/Auburn is the second largest populated area in the state with approximately 314,373 people within a 25-mile radius and an average household income of $78,009.
• Larger retail tenants in the immediate area include Walmart, Target, Lowe’s, Home Depot, Kohl's, Hobby Lobby and Shaw’s.
• Tenants notably missing from the area include Costco, Market Basket, Hannaford, and Aldi's to name a few.
• The Auburn Mall is a well-maintained center ideally located to serve the communities of Lewiston and Auburn and the larger central Maine area.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
344,369 SF
Building Class
B
Year Built/Renovated
1979/1992
Price
$18,000,000
Price Per SF
$52.27
Percent Leased
83%
Tenancy
Multiple
Building Height
1 Story
Slab To Slab
14’
Building FAR
0.23
Lot Size
33.80 AC
Zoning
C - Commercial
Parking
1,776 Spaces (5.16 Spaces per 1,000 SF Leased)
Frontage
521’ on Center St

AMENITIES

  • Enclosed Mall

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • POSITION
  • AVAILABLE
  • End Cap
  • 59,941 SF
  • Retail
  • End Cap
  • Now
Space Size Space Use Position Available
End Cap 59,941 SF Retail End Cap Now

End Cap

Size
59,941 SF
Space Use
Retail
Position
End Cap
Available
Now

NEARBY MAJOR RETAILERS

Orangetheory Fitness
Applebee's
KeyBank
Starbucks
Shaw's
Ninety Nine Restaurant & Pub
Planet Fitness
Heidi's Brooklyn Deli
Buffalo Wild Wings
Longhorn Steakhouse

PROPERTY TAXES

  • Listing ID: 32693246

  • Date on Market: 8/5/2024

  • Last Updated:

  • Address: 550 Center St, Auburn, ME 04210