419 Hill StBiddeford, ME 04005

Property Details for 419 Hill St

Year built

1985

Construction

STEEL FRAME

Lot size

3.44 AC

Property size (Sq ft)

28,119 SF

Zone code

I2

Property type

Industrial properties

Property subtype

Life science properties

APN

BIDD M:74 L:9

APU

BIDDM74L9

Description

This exceptional investment opportunity presents a 28,119 square foot industrial warehouse located at 419 Hill Street in Biddeford, Maine. The property, built in 1984 and extensively renovated in 1995 and 2022, boasts a 9% cap rate and a strong net operating income (NOI) of $340,111.37. Currently leased under a triple-net (NNN) lease with a single tenant for a 10-year term commencing October 30, 2020, and expiring December 30, 2029, this property offers significant long-term stability. The warehouse features 14-foot ceilings, one loading dock, and three dock-high doors. The 3.44-acre lot provides ample space, and parking is available at a rate of 100,000 spaces per 1,000 square feet. Significant improvements include a full building sprinkler system (installed 2021), a new dedicated water line (2021), all new electrical in 2021 (including backup generators and a state-of-the-art security system), and a roof section replacement in 2021. The property is zoned Industrial (I-2) and offers potential for expansion by an additional 20,000 square feet. The asking price is $3,800,000. This fully renovated, state-of-the-art facility presents a compelling investment opportunity with a proven track record and significant upside potential. The tenant has a strong financial profile and personal guarantee.

• Alternative Use

  Use

  Valuation

  Residential

  $5,321,214

  Hospitality

  $4,874,204

  Educational

  $4,055,280

  Medical

  $4,194,748

  Retail

  $6,308,214

Location Insight

City

Biddeford

County

York

State

Maine

Latitude

43.4655

Longitude

-70.4774

CBSA code

38860

CBSA name

PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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