Turnkey Investment Property

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30867807
Property Subtypes: Free-Standing Building, Street Retail, Other
Status: Pending/Contingent
Building Size (RSF): 8,815 SF
Gross Building Area: See Agent
Gross Land Area: 3.39 Acres
Sale Price: $995,000
Unit Price: $112.88 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/28/2024

Overview / Comments

Turnkey investment property with three thriving businesses
Renovated in 2019 with separate heat pump HVAC in all units
Oversized paved parking lot in rear with redevelopment potential
Tenants responsible for plowing and separately metered electric under current leases
Sale Price: $995,000 (7.97% cap rate)

Financials

Finance Data Year 2024
Real Estate Taxes - Annual($) $7,089 (Annual)
Net Operating Income $79,334 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Augusta-Waterville
County: Knox
Submarket/Township: ME-Other
Submarket Type: Central Business District
Taxing Authority: Town of Rockport
Tax ID/APN: Map 20, Lot 182
Zoning: MIXED BUSINESS/RESIDENTIAL
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Other
Property Visibility: Good
Largest Nearby Street: Pascal Avenue
Traffic/Vehicle Count: 12,510
Highway Access: Maine Turnpike (Via Route 1)
Airports: Bangor International Airport
Tenancy: Multiple Tenants
Total Number of Buildings: 3
Number of Stories: 1
Property Condition: Good
Year Built: 1970
Year Renovated: 2020
Roof Type: Gable
Construction/Siding: Wood Frame
Parking Type: Surface
Parking Description: Ample, on-site parking
Heat Source: Heat Pump
Zoning Description: 50% Mixed Business/Residential (designated as "growth zone" by Town of Rockport) 50% Coastal Residential (903)
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 669 5,539 14,120
Median Age: 49.95 51.99 48.41
Households: 304 2,624 6,573

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