For Sale
$4,000,000

56 Western AveAugusta, ME 04330

Prime Augusta, ME retail center

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional Augusta, Maine retail center, totaling 149,897 square feet across three buildings, sits on a 10-acre lot with 392 parking spaces. Located at a signalized intersection on Western Avenue, it boasts daily traffic counts exceeding 20,000 vehicles. The property features an 85,808 square foot anchor space opportunity, along with various junior anchor suites. Its strategic location is adjacent to the State of Maine government campus and the Federal Building, and is near other major retailers like Hannaford, Target, Lowe's, Walgreens, and Shaw's. The property is zoned CB - Local Business District. The asking price is $4,000,000, representing a price per square foot of $40.03. Existing tenants provide significant cash flow, offering a potential $2.26/SF NNN effective rent for owner-users or a 15%+ cap rate for developers. This two-story property presents a compelling investment opportunity due to its size, location, and strong tenant base. The property's APN is 11020_00027 00195 00000 and is located at 56 & 60 Western Ave, Augusta, ME 04330.

Highlights

  • Three-building, 149,897 square foot retail center on a 10-acre lot at a signalized intersection in Augusta, ME.
  • 85,808 square foot anchor space available.
  • 392 parking spaces.
  • Over 20,000 vehicles per day traffic count.
  • Strong cash flow from existing tenants.
  • $2.26/SF NNN effective rent for owner-users, or a 15%+ cap rate for developers.

Property Details for 56 Western Ave

Property type
Retail properties, Restaurants
Square Feet
149,897 SF
Stories
2
Lot Size (sq. ft)
435,600 SF

Location Insight

City
Augusta
County
Kennebec
State
Maine
Latitude
44.3113301
Longitude
-69.7867641
56 Western Ave, Augusta, Maine

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56 Western Ave
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