518 US Route One

Retail-Commercial for Sale
Sale Pending/Contingent
Also listed as Office
Catylist Listing ID: 29738119
Property Subtypes: Free-Standing Building, Street Retail
Status: Pending/Contingent
Building Size (RSF): 26,906 SF
Gross Building Area: See Agent
Gross Land Area: 5 Acres
Sale Price: $945,000
Unit Price: $35.12 PSF
Property Use Type: Vacant/Owner-User
Building Name: 518 US Route One
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/24/2017

Overview / Comments

26,906+/- sf, mixed-use plaza

Excellent visibility and exposure to US Route One

Significant opportunities to improve NOI

Ideal for buyer looking to reposition investment property

Building One:

Constructed in 1981, the wood frame building consists of 8,050+/- sf spread over two floors. The first floor consists of 4,050 sf and the second floor consists of 4,000 sf. The building dimensions are approximately 40 feet by 100 feet. Building One is located to the rear of the property and currently contains a day care, a variety of offices spaces, and one residential apartment on the second floor.

Building Two:

Constructed in 1989, Building Two is also wood frame construction and it consists of 18,856+/- sf spread over two levels. The first floor consists of 6,340 sf and the second floor consists of 12,516 sf. The building dimensions are approximately 60 feet by 200 feet on the top level and 30 feet by 200 feet on the bottom level. Each floor has direct access to a parking lot. Building Two is located in the front portion of the property with excellent visibility from US Route One. It is currently occupied by Domino’s in a portion of the first floor, with a nursery and a multi-use office on the second floor.

Attachments & Media

Financials

Finance Data Year 2016
Real Estate Taxes - Annual($) $27,538 (Annual)

Additional Details

Nearest MSA: Portland-South Portland
County: York
Submarket/Township: Kittery/York/Eliot
Taxing Authority: Town of Kittery
Tax ID/APN: 67/2
Zoning: MIXED USE
Market Type: Medium
Road Type: Paved
Property Visibility: Excellent
Highway Access: Close to Maine Turnpike
Site Description: 26,906+/- sf, mixed-use plaza Excellent visibility and exposure to US Route One
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 2
Construction/Siding: Wood Frame
Parking Description: Ample on-site parking
Zoning Description: Mixed-use
Lot Frontage: 401

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 960 11,106 35,725
Median Age: 42.61 43.46 43.99
Households: 388 4,740 16,463

Source

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