Catylist ID:
#30847714
Office/Retail Investment Opportunity
Office
for Sale
Sale Pending
Also listed as Retail-Commercial
| Catylist Listing ID: | 30847714 |
| Property Subtypes: | Mixed Use, Office Building |
| Status: | Pending |
| Building Size (RSF): | 17,303 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 0.10 Acres |
| Sale Price: | $1,829,000 |
| Unit Price: | $105.70 PSF |
| Property Use Type: | Investment |
| Class of Space: | Class B |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 8/27/2023 |
Overview / Comments
|
Located in the very center of downtown Camden, Maine, this 4-story, brick retail/office building is perhaps the most notable building in this midcoast town. The 17,303 sf building is home to nineteen (19) local office users and a first floor manufacturer/retailer. The property has consistently shown low vacancy and is now 95% occupied with only one office suite available. Priced at approximately $105/sf, this professionally-managed building is a high-return asset with low risk spread over the 19 tenants. • Excellent location in downtown Camden • 95% occupied with 19 tenants • NOI: $127,363 • 7.0% Cap Rate • Professionally managed, ideal for “hands off” investor • Sale Price: $1,829,000 (approx. $105/SF) FOR MORE INFORMATION, PLEASE COMPLETE THE ATTACHED CONFIDENTIALITY AGREEMENT. |
Attachments & Media
Financials
| Finance Data Year | 2023 |
|---|---|
| Real Estate Taxes - Annual($) | $20,794 (Annual) |
| Tax Value Land | $465,700 |
| Tax Value Improvements | $1,109,600 |
| Assessed Value - Total($) | $1,575,300 (Annual) |
| Net Operating Income | $127,363 (Annual) |
Additional Details
| Nearest MSA: | Augusta-Waterville |
| County: | Knox |
| Submarket Type: | Central Business District |
| Taxing Authority: | Town of Camden |
| Tax ID/APN: | 120156000000 |
| Zoning: | B-1 |
| Property Visibility: | Excellent |
| Highway Access: | U.S. Route 1 and I-295 |
| Airports: | Augusta State Airport |
| Site Description: | Downtown Business District |
| Total Number of Buildings: | 1 |
| Number of Stories: | 4 |
| Year Built: | 1830 |
| Roof Type: | Flat |
| Construction/Siding: | Brick, Concrete |
| Parking Type: | Surface |
| Parking Description: | Parking available in nearby lot at $450/year per space. |
| Heat Type: | Oil, Hot Water |
| Air Conditioning: | Window Unit |
| Zoning Description: | Downtown Business District |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 2,411 | 5,519 | 8,180 |
| Median Age: | 55.25 | 52.82 | 51.33 |
| Households: | 1,257 | 2,686 | 3,804 |
Contact
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