Rumford Plaza
Shopping Center
for Sale
Call for Offers
| Catylist Listing ID: |
30809659 |
| Property Subtypes: |
Community Center, Fashion/Specialty, Neighborhood Center, Net Leased
|
| Building Size (RSF): |
80,375 SF
|
| Gross Building Area: |
See Agent |
| Sale Price: |
$3,300,000 |
| Unit Price: |
$41.06 PSF |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Net Leased Investment (NNN), Investment |
| Sale Terms: |
Cash to Seller |
| Call for Offers: |
Yes |
| Cap Rate: |
8.18% |
| Average Occupancy Rate: |
100 |
| Last Updated: |
3/27/2023 |
Overview / Comments
The 80,375 +/- square foot Rumford Plaza offers a rare combination yield and value add play with an impressive tenant roll including Tractor Supply Company, Dollar Tree, Marden's and Motor Supply Company.
Its a yield play with its list price providing an unlevered 8.18% cap rate based on the leasing the newly available 3,400 square feet of retail space @ $7.00/SF NNN. .
It's a value play given the rising costs for land, construction and financing to construct an 80,000+ square foot shopping center. It's available @ $41.06/SF, a fraction of its replacement cost. There is no competition in its market area.
Lastly, it's a value-add play given there is sufficient land to construct a mixed-use commercial and residential building in the massive 340 +/- space parking lot. The city of Rumford is motivated to work with qualified buyer-developers to streamline approvals for new development.
2021 common area expenses ($1.70/SF), including FY22 real estate taxes of $53,718, are reimbursed by the NNN tenants.
|
Financials
| Finance Data Year |
2022 |
| Real Estate Taxes - Annual($) |
$53,718 (Annual) |
Additional Details
| Nearest MSA: |
Lewiston-Auburn |
| County: |
Oxford |
| Submarket Type: |
Other |
| Tax ID/APN: |
1987 |
| Zoning: |
BUSINESS |
| Lot Frontage: |
200 |
Demographic Statistics
| Proximity: |
3 miles |
5 miles |
| Total Population: |
4,985 |
8,711 |
| Median Age: |
42.7 |
44.8 |
| Households: |
2,243 |
3,911 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither New England Commercial Property Exchange nor
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