Catylist ID: #30737538
Retail-Commercial for Sale
|Catylist Listing ID:||30737538|
|Property Subtypes:||Free-Standing Building|
|Building Size (RSF):||11,180 SF|
|Gross Building Area:||See Agent|
|Unit Price:||$380.14 PSF|
|In Opportunity Zone?||Yes|
|Property Use Type:||Net Leased Investment (NNN)|
Overview / Comments
Subject property is located at 461 Main St in Saco Maine. Current tenant is Walgreens with a 20 year initial lease term and (4) 5 year renewal options. Walgreens is the only national Drug Store in Saco, ME!
Building was built in 1997 and is 11,180 +/- SF on 2.22 AC of land.
Subject property is located on Route 1 with high traffic counts. To the south of the property on Route 1 the average daily traffic count is 22,440 and to the north on Route 1 the average daily traffic count is 23,590!
Landlord is responsible for the roof and structure of the building.
Walgreen’s recently exercised their second renewal option (a year early, showing their strong commitment to the site), extending the lease until 2027.
Rent is as follows:
**Projection is based on 2022 rent increase. (Seller is pledging the difference in rent, $12,298, until the new rent begins in approximately 12 months.
Option 1 (2017-2022)- $210,743 Annually
Option 2 (2022-2027) – $223,041 Annually
Option 3 (2027-2032) -$234,221 Annually
Option 4 (2032-2037) – $245,401 Annually
*Walgreens has a restriction on 2-mile radius of property for drugstore, beauty and health products.
Mile 1- 6,019 Mile 1- $38,494
Mile 2- 31,269 Mile 2- $40,227
Mile 3- 48,288 Mile 3- $45,289
Attachments & Media
|Nearest MSA:||Portland-South Portland|
|Tax ID/APN:||Map 33, lot 24|
|Total Number of Buildings:||1|
|Lot Frontage:||239 FT|
|Proximity:||1 mile||3 miles||5 miles|
John GendronGendron Commercial Brokers of Boston NECPE Member
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