187 Washington StAuburn, ME 04210

  • Office properties
  • 7,380 SF
For Lease
$5/SF/YR View listing

Property Details for 187 Washington St

Year built
1920
Construction
FRAME
Lot size
0.50 AC
Property size (Sq ft)
7,380 SF
Property type
Office properties
Property subtype
Office buildings
APN
AUBN M:210 L:015
APU
AUBNM210L015

Description

This exceptional 8,856-square-foot executive office building, located at 187 Washington Street in Auburn, Maine, presents a unique opportunity for owner-occupancy or investment. Situated on a 0.66-acre lot, this three-story building, constructed in 1920, boasts high visibility on Route 202, providing easy access to downtown Auburn and the Maine Turnpike. The entire building is currently vacant, offering immediate occupancy for a single tenant. The property is zoned as Commercial Form Based Code Gateway Development District (CFBCGD) within Androscoggin County, and includes ample parking with 20 spaces available. The building's substantial size and prime location make it ideal for a variety of businesses seeking a prominent presence in a thriving Maine community. This is a rare chance to acquire a substantial, well-located office building in a desirable area. The property's vacant status allows for complete customization to suit a new tenant's specific needs and preferences. With its convenient access to major transportation routes and the vibrant downtown area, this property offers unparalleled convenience and exposure. The 04210 zip code ensures easy access to a range of amenities and services. Consider the potential of this significant commercial property in a growing market.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,220,134
    6.5%
    $1,126,278
    7%
    $1,045,830
  • Comparable approach

    Method
    Valuation
    Relative Method
    $964,271
    Geo Method
    $964,271
  • Alternative Use

    Use
    Valuation
    Residential
    $1,396,585
    Hospitality
    $1,279,264
    Educational
    $1,064,333
    Medical
    $1,100,937
    Retail
    $1,655,629
187 Washington St, Auburn, Maine

Location Insight

City
Auburn
County
Androscoggin
State
Maine
Latitude
44.0834
Longitude
-70.2335
CBSA code
30340
CBSA name
LEWISTON-AUBURN, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$8,745
$68,300
$316,100
$384,400
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-
-
-

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