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1010-1016 Rt. 2

Rumford, ME 04276
  • $3,300,000
  • STATUS: Active
  • MLS #: 1535211
UPDATED: 41 min ago
$3,300,000
  • 0
    BEDS
  • 9.86
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 80,956
    SQFT
Neighborhood:
Type:
Commercial-Lease
Built:
1968
County:
Area:

School Ratings & Info

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Description

The 80,375 +/- square foot Rumford Plaza offers a rare combination yield and value add play with an impressive tenant roll including Tractor Supply Company, Dollar Tree, Marden's and Motor Supply Company. Its a yield play with its list price providing an unlevered 8.18% cap rate based on the leasing the newly available 3,400 square feet of retail space @ $7.00/SF NNN. . It's a value play given the rising costs for land, construction and financing to construct an 80,000+ square foot shopping center. It's available @ $41.06/SF, a fraction of its replacement cost. There is no competition in its market area.Lastly, it's a value-add play given there is sufficient land to construct a mixed-use commercial and residential building in the massive 340 +/- space parking lot. The city of Rumford is motivated to work with qualified buyer-developers to streamline approvals for new development. 2021 common area expenses ($1.70/SF), including FY22 real estate taxes of $53,718, are reimbursed by the NNN tenants.

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Listing data is derived in whole or in part from the Maine IDX & is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.
© 2022 Maine Real Estate Information System, Inc. All Rights Reserved. Data last updated: 2022-11-27T23:48:36.05.
www.yoursouthernmaineagent.com/homes/130583047
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1010-1016 Rt. 2 Rumford, ME 04276

  • Price: $3,300,000
  • Status: Active
  • On Site: Days
  • Updated: 41 min ago
  • MLS #: 1535211
0
Beds
0
Baths
0
½ Baths
9.86
Acres
80,956
SQFT
$41
$/SQFT
1968
Built
Neighborhood:
Rumford
County:
Oxford
Area:
Rumford
Property Description
The 80,375 +/- square foot Rumford Plaza offers a rare combination yield and value add play with an impressive tenant roll including Tractor Supply Company, Dollar Tree, Marden's and Motor Supply Company. Its a yield play with its list price providing an unlevered 8.18% cap rate based on the leasing the newly available 3,400 square feet of retail space @ $7.00/SF NNN. . It's a value play given the rising costs for land, construction and financing to construct an 80,000+ square foot shopping center. It's available @ $41.06/SF, a fraction of its replacement cost. There is no competition in its market area.Lastly, it's a value-add play given there is sufficient land to construct a mixed-use commercial and residential building in the massive 340 +/- space parking lot. The city of Rumford is motivated to work with qualified buyer-developers to streamline approvals for new development. 2021 common area expenses ($1.70/SF), including FY22 real estate taxes of $53,718, are reimbursed by the NNN tenants.
Exterior Features

Exterior Block Foundation Materials Poured Concrete Parking 21+ SpacesOff StreetOn SitePaved Roof Membrane

Interior Features

Basement None Gas Bottled Heat Fuel Gas Bottled Heat System Forced AirMulti-Zones

Property Features

Building Features Loading Docks 1 - 4Overhead Doors Electric Circuit BreakersUnderground Full Tax Amount Amount 2122.00 Leased Land No Leases Yes Location Retail StripSuburban Property Uses DevelopmentDistributionNet LeasedRetailStrip Mall Sewer Public Sewer Surveyed Yes Tax Year 53718 Water Public Zoning Business Zoning Overlay Unknown

Listing provided courtesy of Bean Group: [IDXCONTACTINFORMATION].

© 2022 Maine Real Estate Information System, Inc. All Rights Reserved.

Mortgage Calculator is provided by BoomTown.

Listing data is derived in whole or in part from the Maine IDX & is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.
© 2022 Maine Real Estate Information System, Inc. All Rights Reserved. Data last updated: 2022-11-27T23:48:36.05.
 
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Keller Williams Realty
50 Sewall Street
Portland ME, 04102
Mortgage Calculator tool is provided by BoomTown.