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175 High StEllsworth, ME 04605

Three Centers, High Occupancy, Strong Tenants

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional retail investment opportunity comprises three strategically located shopping centers in Maine, New Hampshire, and Rhode Island, totaling 253,503 square feet. The portfolio boasts a remarkable 98% occupancy rate, anchored by major national tenants including Shaw's Supermarket, Stop & Shop (master lease), Marshalls, Tractor Supply, Dollar Tree, and Family Dollar. The Ellsworth, ME location (101,608 sq ft, 100% occupancy, $1,109,070 in-place NOI) features Shaw's Supermarket, Reny's, and Wendy's. The Gorham, NH center (71,000 sq ft, 97% occupancy, $381,324 in-place NOI) includes Tractor Supply, Marshalls, and Dollar Tree. Finally, the Warwick, RI property (80,895 sq ft, 96% occupancy, $701,460 in-place NOI) is anchored by a Stop & Shop master lease, along with Family Dollar and Goodwill. The portfolio offers a weighted average lease term of 6.2 years and presents significant value-add opportunities, with a low cost basis and limited capital requirements. This stabilized investment is situated in high-barrier-to-entry markets, providing a compelling return on investment. The properties are offered for sale individually, as a sub-portfolio, or as the complete portfolio.

Highlights

  • ±253,503 square feet across three shopping centers in high-barrier-to-entry markets.
  • 98% occupied with ~93% of income from national credit tenants (Shaw's, Stop & Shop, Marshalls, Tractor Supply, Dollar Tree, Family Dollar).
  • 6.2-year weighted average lease term (WALT).
  • Value-add opportunities exist at all three properties.
  • Low cost basis and limited capital requirements.

Property Details for 175 High St

Property type
Lifestyle centers, Power centers
Square Feet
253,503 SF

Location Insight

City
Ellsworth
County
Hancock
State
Maine
Latitude
44.535015778606
Longitude
-68.412808137913
175 High St, Ellsworth, Maine

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175 High St
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