For Sale
$1,537,237

2 Broadway Lincoln, ME 04457

Walgreens Net Lease, High Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
135
Exceptional investment opportunity: a 12,967 square foot freestanding retail building in Lincoln, Maine, currently 100% occupied by Walgreens under a net lease expiring October 30, 2027. This Class B property boasts a strong net operating income (NOI) of $122,979, yielding an attractive 8.00% capitalization rate at an asking price of $1,537,237. The single-story building, constructed in 1998, sits on a 3.2-acre lot within Commercial Zone 2 and includes 50 parking spaces. Its prime location at a lighted intersection in Lincoln's retail district ensures high visibility and accessibility. Key features include a convenient drive-thru and excellent signage opportunities. The property's Assessed Property Number (APN) is 137/018. This is a single-tenant investment with a proven track record, offering a stable and predictable income stream for the foreseeable future. The property is located at 2 W Broadway, Lincoln, ME 04457. This is a rare opportunity to acquire a well-located, high-performing retail asset with a national tenant. The property's size and location make it an ideal investment for those seeking strong returns and long-term stability.

Highlights

  • 12,967 SF Walgreens-leased retail building; lease expires 10/31/2027.
  • Drive-thru and prominent signage at a lighted intersection in Lincoln's central retail area.
  • Strong NOI of $122,979.
  • Offered at $1,537,237, representing an 8% cap rate.

Property Details for 2 Broadway

Property type
Retail properties, Retail space
Square Feet
12,967 SF
Class
B
Year Built
1998
Buildings
1
Stories
1
Lot Size (sq. ft)
139,392 SF

Location Insight

City
Lincoln
County
Penobscot
State
Maine
Latitude
45.3617651
Longitude
-68.5053664

FAQs

What type of property is this?
Retail property - Walgreens Net Lease, High Cap Rate
Where is the retail property located?
The property is located at 2 Broadway Lincoln, ME.
What is the asking price?
The asking price for this property is $1,537,237.
What are key features of this property?
This property features: 12,967 SF Walgreens-leased retail building; lease expires 10/31/2027.; Drive-thru and prominent signage at a lighted intersection in Lincoln's central retail area.; Strong NOI of $122,979.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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2 Broadway
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