For Sale
$6,162,791

403 Water StAugusta, ME 04330

High-yield Walgreens, Augusta, ME.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 14,065 square foot Walgreens located at 403 Water St, Augusta, ME, 04330. The property boasts a strong 8.60% cap rate and a substantial net operating income (NOI) of $530,000. This absolute NNN (triple net) lease with Walgreens, a highly reputable tenant, ensures minimal landlord responsibilities. The lease has a remaining term of 8.7 years, extending to July 31, 2033, providing long-term financial stability. Built in 2007, this 100% occupied property sits on a 1.37-acre lot and benefits from its prime location. Situated just two blocks north of Maine's State Capitol Buildings, encompassing two campuses totaling 1.59 million square feet, the property enjoys high foot traffic and visibility. The proximity to Maine General Health's Augusta Hospital, the largest private employer in the region, further enhances its desirability. Augusta's designation as an Opportunity Zone adds to the investment's appeal. This strategically located property offers a compelling combination of strong tenant occupancy, a favorable lease structure, and significant growth potential within a thriving community. The property's location near government offices, a major hospital, and the city's downtown area ensures consistent customer traffic and long-term value. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with a secure, long-term lease.

Highlights

  • $6,162,791 asking price for a Walgreens-occupied retail property.
  • Absolute NNN net lease with 8.7 years remaining until 2033.
  • 14,065 square feet on a 1.37-acre lot, built in 2007.
  • 8.60% cap rate with a $530,000 NOI and 100% occupancy.
  • Located in Augusta, ME, near Maine's State Capitol buildings and Maine General Health's Augusta Hospital.

Property Details for 403 Water St

Property type
Retail properties, Retail space
Square Feet
14,065 SF
Year Built
2007
Lot Size (sq. ft)
59,677 SF

Location Insight

City
Augusta
County
Kennebec
State
Maine
Latitude
44.311043449795
Longitude
-69.77853719953
403 Water St, Augusta, Maine

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403 Water St
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