Catylist ID: #30631971
35 Main Street
Retail-Commercial for Sale
|Catylist Listing ID:||30631971|
|Property Subtypes:||Street Retail|
|Building Size (RSF):||37,663 SF|
|Gross Building Area:||38,090 SF|
|Gross Land Area:||0.46 Acres|
|Unit Price:||$157.98 PSF|
|Property Use Type:||Net Leased Investment (NNN)|
|Building Name:||Gap & American Eagle Building|
|Usable Size (USF):||37,663 SF|
|Sale Terms:||Cash to Seller|
Overview / Comments
Porta & Company is pleased to offer for sale the Gap & American Eagle building located at 35 Main Street in downtown Freeport, Maine.
The property consists of a premier two-story retail building totaling in 37,663± RSF located on 0.46± acres with ample parking triple net leased to Gap, guaranteed by Gap, Inc, and American Eagle Outfitters, guaranteed by American Eagle Outfitters, Inc.
In 2019, the property produced a NOI of over $1,000,000. Due to the pandemic, ownership and Gap, Inc. executed a gross sales memorandum. Therefore, NOI will be reduced for a period of time and then revert back to a triple net lease.
There is a vacant space between Gap and American Eagle that provides for a value add opportunity to investors.
The property is an incredible asset for an investor looking to place capital in an established and renowned shopping district with over 3 million visitors annually and home to the L.L. Bean flag ship store.
Please contact broker for a tour, financial, and lease details.
Attachments & Media
|Tenant Business Name||American Eagle Outfitters|
|Tenant Business Name||Gap|
|Nearest MSA:||Portland-South Portland|
|Zoning:||VILLAGE CENTER - 1|
|Retail Clientele:||General, Family, Business, Traveler, Tourist|
|Largest Nearby Street:||Route 1|
|Highway Access:||Prominently located right off Interstate 295|
|Area Description:||The building is located in a premier outlet shopping destination which fills a geographic void for outlet shopping between Kittery, Portland and Augusta.|
|Total Number of Buildings:||1|
|Number of Stories:||2|
|Parking Description:||Free public parking lots directly behind and adjacent to the space|
|Heat Type:||Natural Gas|
|Proximity:||1 mile||3 miles||5 miles|
Mackenzie SimpsonPorta & Company NECPE Member
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