Catylist ID:
#30791790
Village Plaza
Retail-Commercial
for Sale
Also listed as Industrial, Vacant Land
| Catylist Listing ID: | 30791790 |
| Property Subtypes: | Car Wash, Day Care Facility, Free-Standing Building, Mixed Use, Restaurant, Retail-Pad, Street Retail, Tavern/Bar/Nightclub, Other |
| Condo? | Yes |
| Building Size (RSF): | 10,112 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 9.60 Acres |
| Sale Price: | $1,750,000 |
| Property Use Type: | Net Leased Investment (NNN), Investment |
| Building Name: | Village Plaza |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 8.0% |
| Last Updated: | 4/13/2024 |
Overview / Comments
|
Ideal 1031 investment opportunity with the fully-leased 9,984 +/- SF Phase 1 building and conditional approvals in place for Phases 2 and 3. It's a yield & value-add play; earn 8.32% stabilized unlevered return with conditionally approved plans for the two other buildings in place along with infrastructure. Cost to build Phase 1 and secure conditional approvals for the other buildings and associated land costs today would far exceed its list price. Town of Waterboro is business-friendly and would consider changes to the building dimensions if a buyer is interested. Light industrial (flex space) building would be an ideal use for Phase 2 and 3, among other uses. There is a dearth of such space in the area. Other permitted uses include retail, office and residential. Financial analysis/existing conditions report is available. Family Dollar and Ace Hardware are located to the right of the Village Plaza. |
Attachments & Media
Additional Details
| Nearest MSA: | Portland-South Portland |
| County: | York |
| Submarket/Township: | Biddeford/Saco |
| Submarket Type: | Central Business District |
| Tax ID/APN: | 1686 |
| Is Condo?: | Yes |
| Zoning: | VILLAGE |
| Site Description: | Level site with superior visibility and access. |
| Tenancy: | Multiple Tenants |
| Total Number of Buildings: | 3 |
| Year Built: | 2018 |
| Part of Planned Development?: | Yes |
| Lot Frontage: | 500 |
| Sewer Type: | Septic |
| Land Ownership: | Three building condominium association names Village Plaza. |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 925 | 3,396 | 7,777 |
| Median Age: | 39.07 | 44.45 | 42.66 |
| Households: | 350 | 1,342 | 3,142 |
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