Augusta Plaza

Shopping Center for Sale
Catylist Listing ID: 30748942
Property Subtypes: Fashion/Specialty, Grocery-Anchored, Mixed Use, Strip Center
Building Size (RSF): 140,000 SF
Gross Building Area: See Agent
Gross Land Area: 10 Acres
Sale Price: $4,000,000
Unit Price: $28.57 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/2/2024

Overview / Comments

Pleased to present the sale of the Augusta
Plaza at 56-58 Western Avenue in Augusta, Maine (the “Property”
or “Center”). This 140,000+/- SF shopping center boasts an excellent
location off exit 109A from I-95 in Maine’s Capital City next to the
State of Maine government campus and a variety of shopping and
restaurants. The Center is situated on 10± paved acres accessed off a
traffic light on Western Avenue.
There is currently both an end-cap anchor opportunity (85,808+/- SF)
and a variety of junior anchor suites available which make this an
ideal purchase for companies who prefer to own their real estate and
also face a high barrier to entry into markets such as Augusta. Those
same availabilities make the opportunity ideal for redevelopment or
repositioning within the market.
One of the strongest attributes of the Augusta Plaza is its location. The
10± acre developed parcel is directly adjacent to the State of Maine
government campus and the Federal Building, with direct traffic light
access off of Western Ave (traffic counts in excess of 20,000+/- AADT).
Hannaford, Target, Lowe’s, Walgreens and Shaw’s are located on the
same retail strip in close proximity to the Property.

Additional Details

Nearest MSA: Augusta-Waterville
County: Kennebec
Tax ID/APN: 11020_00027 00195 00000
Zoning: CB
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention, Casino
Property Visibility: Excellent
Number of Stories: 2
Property Condition: Excellent
Parking Description: Surface
Total Parking Spaces: 392
Lot Frontage: 1

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,487 18,925 29,336
Median Age: 41.85 44.21 43.87
Households: 3,782 8,802 13,174


Photograph of Listing Agent

Timothy J. Millett, CCIM

Porta & Company NECPE Member
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