2 Delorme DrYarmouth, ME 04096

Property Details for 2 Delorme Dr

Year built

1997

Construction

STEEL FRAME

Lot size

10.86 AC

Property size (Sq ft)

93,752 SF

Zone code

21

Property type

Office properties

Property subtype

Office buildings

APN

YMTH M:035 L:002

APU

YMTHM035L002

Description

This exceptional investment opportunity presents a fully leased, Class A mixed-use office building totaling 119,665 square feet, situated on approximately 5.6 to 41.2 acres of land in Yarmouth, Maine. The property, built in 1997 and featuring a modern lobby with Class A finishes, boasts a three-story building with a 100% occupancy rate. The property includes a newly completed Magno Terra Cafe, a fitness center, and a training gym, enhancing its appeal and functionality. Strategically located off Exit 17 of I-295, this highly visible property enjoys excellent access to downtown Portland (approximately 10 minutes away). The primary tenant is Garmin (GRMN), a publicly traded company listed on the New York Stock Exchange, providing a stable and secure income stream. This value-add opportunity includes the potential for further development on additional land parcels (three separate parcels available for purchase), offering significant potential for increased income and return on investment. The property is zoned C - Commercial and features one building. The legal description is APN 035-002, and the ownership is held by Global Village Limited Liability. This is a truly exceptional opportunity for investors seeking a high-quality, fully leased asset in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $15,500,006

  6.5%

  $14,307,698

  7%

  $13,285,719

• Comparable approach

  Method

  Valuation

  Relative Method

  $12,249,636

  Geo Method

  $12,249,636

• Alternative Use

  Use

  Valuation

  Residential

  $17,741,546

  Hospitality

  $16,251,160

  Educational

  $13,520,774

  Medical

  $13,985,775

  Retail

  $21,032,316

Location Insight

City

Yarmouth

County

Cumberland

State

Maine

Latitude

43.8075

Longitude

-70.1635

CBSA code

38860

CBSA name

PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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