Premiere Investment Opportunity - Grocery Anchored Center

Shopping Center for Sale
Catylist Listing ID: 30183808
Property Subtypes: Community Center, Grocery-Anchored, Neighborhood Center, Net Leased, Power Center, Strip Center
Building Size (RSF): 85,000 SF
Gross Building Area: See Agent
Gross Land Area: 22.22 Acres
Sale Price: $9,995,000
Unit Price: $117.59 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: The Shops At Long Bank
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/19/2018

Overview / Comments

Malone Commercial Brokers is pleased to offer for sale, The Shops at Long Bank — a grocery-anchored shopping center located on US Route 1 in Kennebunk, Maine.

The shopping center, built in 2007, is comprised of 85,000± SF; this includes a 60,648± SF Hannaford Supermarket and a 3,500 SF Biddeford Savings Bank which are both on Ground Leases and 21,466± SF of space in the other buildings. All but one 1,399± SF retail space is leased but the seller will consider a one year lease-back at $11 per SF (not including CAM charges - see broker for more details).

The property benefits from an outstanding location in Kennebunk — the heart of Maine’s Southern seaside resort area. Located on US route 1, it is just 5 minutes from Exit 25 off the Maine Turnpike (I-95). The I-95 corridor makes it easy to access major markets whether by train, plane, truck or automobile.

Other Highlights:
- Hannaford Anchored Center
- Very well-maintained, attractive looking complex
- Convenient ingress/egress at a lighted intersection
- Desirable tenant mix of service-retail, medical, restaurant and bank

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $62,777 (Annual)

Additional Details

Nearest MSA: Portland-South Portland
County: York
Tax ID/APN: Map 38 B/L 019, 032, 031
Zoning: SUBURBAN COMMERCIAL
Property Located Between: Wells, ME and Arundel, ME
Property Visibility: Excellent
Largest Nearby Street: Route 1
Feet of Frontage: 720
Total Number of Buildings: 5
Number of Stories: 1
Property Condition: Excellent
Year Built: 2007
Construction/Siding: Brick, Steel Frame, Wood Frame
Parking Type: Surface
Parking Description: ample parking
Sprinklers: Wet, Dry
Heat Type: Propane
Heat Source: Central
Air Conditioning: Engineered System
Lot Frontage: 720
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,908 8,053 23,794
Median Age: 53.05 50.19 48.27
Households: 1,454 3,680 10,073

Contact

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