Fully-Leased, Single Tenant State Office Building

Office for Sale
Catylist Listing ID: 30871840
Property Subtypes: Office Building
Building Size (RSF): 48,771 SF
Gross Building Area: See Agent
Gross Land Area: 9.50 Acres
Sale Price: $5,100,000
Unit Price: $104.57 PSF
Property Use Type: Investment
Building Name: Fully-Leased, Single Tenant State Office Building
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/15/2024

Overview / Comments

48,771+/- SF, fully-leased state office building on 9.5+/- acres

• Less than a mile to downtown Gardiner and directly off Maine Avenue/Rte 201.

• Approximately $1,500,000 in renovations completed in 2022 & 2023

• Renovations include new interior paint, carpet, windows, etc.

• Fully leased through 12/31/2033 to Department of Professional & Financial
Regulation

• Estimated NOI: $370,386

• Cap Rate: 7.3%

• Sale Price: $5,100,000

Additional Details

Nearest MSA: Augusta-Waterville
County: Kennebec
Taxing Authority: City of Gardiner
Tax ID/APN: Map 38, Lot 05
Zoning: HDR
Property Visibility: Excellent
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1960
Year Renovated: 2023
Roof Type: Flat
Construction/Siding: Block
Parking Type: Surface
Parking Description: Ample, on-site parking
Heat Type: Propane, Hot Water
Zoning Description: HDR - High Density Residential
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 14610/315

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,961 11,260 23,824
Median Age: 41.89 43.08 43.84
Households: 1,766 4,878 10,092

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