The Market Place 675 Main St 53,419 SF 100% Leased Retail Building Lewiston, ME 04240 $4,350,000 ($81.43/SF) 10.05% Cap Rate
INVESTMENT HIGHLIGHTS
- Retail/Mixed-Use Investment
- 10% CAP
- 16 Tenants & 1 Land Lease
EXECUTIVE SUMMARY
• Asking Price: $4,350,000
• Expenses: $157,727.57
• NOI: $437,036.43
• 10% CAP
We are pleased to offer the Marketplace Mall, a highly visible retail center, for sale. The site consists of a 53,149± SF strip center on 5.32± acres, and an additional land leased building. The center has 22 units with 16 tenants, and only one vacant unit. The tenants include a mix of retail, service, office and industrial users. The land lease is with Sam’s Italian Foods, a popular regional restaurant. This investment opportunity is highly visible, located along Route 202/Main Street. The Marketplace Mall is located at a lighted intersection on an immensely busy retail and commuter corridor of Lewiston. This route flows directly into both downtown Lewiston and Auburn, and is in close proximity to Bates College.
• Expenses: $157,727.57
• NOI: $437,036.43
• 10% CAP
We are pleased to offer the Marketplace Mall, a highly visible retail center, for sale. The site consists of a 53,149± SF strip center on 5.32± acres, and an additional land leased building. The center has 22 units with 16 tenants, and only one vacant unit. The tenants include a mix of retail, service, office and industrial users. The land lease is with Sam’s Italian Foods, a popular regional restaurant. This investment opportunity is highly visible, located along Route 202/Main Street. The Marketplace Mall is located at a lighted intersection on an immensely busy retail and commuter corridor of Lewiston. This route flows directly into both downtown Lewiston and Auburn, and is in close proximity to Bates College.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
53,419 SF
Building Class
B
Year Built
1955
Price
$4,350,000
Price Per SF
$81.43
Cap Rate
10.05%
NOI
$437,036
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Slab To Slab
9’
Building FAR
0.23
Lot Size
5.32 AC
Zoning
CB & NCA
Parking
100 Spaces (1.87 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signalized Intersection
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
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- Services
- -
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$9.99
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Jan 0000
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| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
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Services | - | $9.99 | Jan 0000 |
