For Sale
$39,867,188

100 Cabela BlvdScarborough, ME 04074

Maine Cabela's: Net Lease, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 130,000-square-foot Cabela's storefront in Scarborough, Maine. Located at 100 Cabela Boulevard, this property sits on a 42-acre lot and is part of the Gateway Shoppes commercial condominium. The property features a 26.1-year absolute NNN lease with Cabela's, commencing May 12, 2008, and expiring May 31, 2034. With over 9.5 years remaining on the primary lease term, this investment offers significant long-term stability. The current net operating income (NOI) stands at $2,551,500, with a 10% rental escalation scheduled every five years, beginning in 2028. The asking price is $39,867,188, representing a 6.40% cap rate and a price per square foot of $306.67. The property boasts 100% occupancy and benefits from excellent visibility and access from Interstate 95 and Route One. Its proximity to downtown Portland (less than 9 miles), the Scarborough Fishing and Game Association, Scarborough Gun Club, and a Wildlife Management Area further enhances its appeal. This is the only Cabela's or Bass Pro Shops location in the entire state of Maine, consistently ranking in the top 90th percentile nationwide for visitor traffic, with customers traveling up to 100 miles to shop. The lease includes a continuous operation clause and a full corporate guarantee from Bass Pro Outdoor World. This is a rare opportunity to acquire a high-performing, long-term net lease investment in a prime location.

Highlights

  • 25-Year Absolute Triple Net Lease with over 9 years remaining, including 10% rent escalations every five years.
  • Full corporate guarantee from Bass Pro Shops.
  • Sole Cabela's/Bass Pro Shops location in Maine, ranking in the top 90th percentile nationally for foot traffic.
  • Excellent visibility and access from I-95 and Route 1, less than 9 miles from downtown Portland.
  • Proximity to outdoor recreation areas including Scarborough Fishing & Game Association, Scarborough Gun Club, and a Wildlife Management Area.

Property Details for 100 Cabela Blvd

Property type
Retail properties, Retail space
Square Feet
130,000 SF
Year Built
2008
Lot Size (sq. ft)
1,829,520 SF

Location Insight

City
Scarborough
County
Cumberland
State
Maine
Latitude
43.6029698
Longitude
-70.3716737
100 Cabela Blvd, Scarborough, Maine

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100 Cabela Blvd
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