Premier Office Investment Opportunity
Office
for Sale
| Catylist Listing ID: |
30841278 |
| Property Subtypes: |
Mixed Use, Office Building
|
| Building Size (RSF): |
45,817 SF
|
| Gross Building Area: |
See Agent |
| Sale Price: |
$5,450,000 |
| Unit Price: |
$118.95 PSF |
| Property Use Type: |
Investment |
| Building Name: |
Lewiston Gateway |
| Class of Space: |
Class A |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
4/26/2024 |
Overview / Comments
|
A tremendous opportunity to acquire a prime investment portfolio in Maine’s second largest MSA. This portfolio features stabilized revenue from leased office space, parking and a ground lease, while also offering incredible upside potential. The cornerstone building of the Lewiston Gateway is a 28,000± SF 4-story brick building that is over 75% leased. Additionally, the portfolio includes land leased to the City of Lewiston improved by a parking garage, a three-story, 18,000± SF vacant class A building and a 0.61± acre parking lot that can be redeveloped.
|
Additional Details
| Nearest MSA: |
Lewiston-Auburn |
| County: |
Androscoggin |
| Taxing Authority: |
Lewiston |
| Tax ID/APN: |
01050_196/000/009 |
| Zoning: |
CV (CENTREVILLE) |
| Property Located Between: |
Less than 2 miles from I-95 exit 80 |
| Property Visibility: |
Excellent |
| Highway Access: |
Less than 2 miles from I-95 exit 80 |
| Area Description: |
At the entrance to Lewiston’s commercial district referred to as “Lewiston Gateway”. |
| Total Number of Buildings: |
2 |
| Year Built: |
2004 |
| Construction/Siding: |
Brick |
| Parking Description: |
500 Canal Street - Adjacent lots and garage parking
491 Lisbon Street - Dedicated lot onsite with 20 spaces |
| Heat Type: |
Natural Gas |
| Heat Source: |
Central |
| Interior Description: |
Gas-fired heat
Central A/C |
| Zoning Description: |
CV (Centreville) |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Legal Description: |
Map 196, Lot 9 |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
20,526 |
48,932 |
61,525 |
| Median Age: |
32.52 |
37.14 |
38.51 |
| Households: |
8,847 |
20,804 |
25,977 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither New England Commercial Property Exchange nor
Moody's assume any liability for errors or omissions.
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