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.


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
Lot Frontage: 200

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,985 8,711
Median Age: 42.7 44.8
Households: 2,243 3,911


Photograph of Listing Agent

Michael Rogers

Bean Group NECPE Member
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