1029-1041 Main StWaterboro, ME 04087

  • Retail properties
  • 10,112 SF
For Sale
$1,750,000 View listing

Property Details for 1029-1041 Main St

Year built
2019
Lot size
9.60 AC
Property size (Sq ft)
10,112 SF
Property type
Retail properties
Property subtype
Lifestyle centers

Description

This exceptional Class A, 10,112 square foot retail center in Waterboro, Maine presents a compelling 1031 exchange opportunity. The fully-leased, multi-tenant property boasts a strong 8.52% cap rate and a substantial net operating income (NOI) of $149,096, with a remaining lease term of 5 years. Currently housing three tenants in a 100% occupied building constructed in 2019, this property sits on a 9.6-acre lot (APN 1686) in the Village zoning district, offering significant potential for future development. Conditional approvals are in place for Phases 2 and 3, allowing for expansion into light industrial, storage, professional, retail, office, or residential uses, addressing a current market shortage of such spaces. The asking price is $1,750,000, translating to a land value of $175.28 per square foot. The property's strategic location on Main Street (1029-1041), near established businesses like Family Dollar and Ace Hardware, ensures high visibility and accessibility. The cost to replicate this property significantly exceeds the asking price, making this a truly valuable investment opportunity with both immediate yield and long-term upside potential. The Town of Waterboro's business-friendly approach further enhances the investment prospects, potentially accommodating adjustments to building dimensions to suit a buyer's vision. This NNN leased property offers a secure, high-return investment with significant future development possibilities.

1029-1041 Main St, Waterboro, Maine

Location Insight

City
Waterboro
County
York
State
Maine
Latitude
43.5444
Longitude
-70.7257

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
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.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].