74 Winthrop StAugusta, ME 04330
- Office properties
- 4,674 SF
Property Details for 74 Winthrop St
- Year built
- 1828
- Construction
- FRAME
- Lot size
- 0.35 AC
- Property size (Sq ft)
- 4,674 SF
- Property type
- Office properties
- Property subtype
- Office buildings
- APN
- AUGU M:00027 B:00002 L:00000
- APU
- AUGUM00027B00002L00000
Description
This well-maintained 6,868 square foot office building at 74 Winthrop Street in Augusta, ME presents a compelling investment opportunity. Situated on a 0.35-acre lot, the property boasts convenient access to downtown Augusta, Western Avenue, the Interstate, and the Augusta airport. The building features 13 offices, all currently leased with a strong rental history generating an annual income of $79,080. The building has been under the same ownership for nearly 45 years, showcasing its enduring appeal and stable tenancy. Many long-term tenants occupy the space, indicating a reliable income stream. The building offers a mix of office spaces, including a spacious second-floor corner suite. Several offices feature high ceilings and hardwood flooring, contributing to the building's elegant character. The property benefits from ample parking and convenient access from both Winthrop and Court Streets. Natural gas heating further enhances the building's efficiency and cost-effectiveness. This property is ideal for both owner-occupiers seeking a prestigious location and investors looking for a stable, income-producing asset. The building's attractive features, combined with its prime location and strong rental history, make it a highly desirable investment.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $772,752
- 6.5%
- $713,309
- 7%
- $662,359
-
Comparable approach
- Method
- Valuation
- Relative Method
- $610,705
- Geo Method
- $610,705
-
Alternative Use
- Use
- Valuation
- Residential
- $884,504
- Hospitality
- $810,201
- Educational
- $674,077
- Medical
- $697,260
- Retail
- $1,048,565
Location Insight
- City
- Augusta
- County
- Kennebec
- State
- Maine
- Latitude
- 44.3153
- Longitude
- -69.7804
- CBSA code
- 12300
- CBSA name
- AUGUSTA-WATERVILLE, ME MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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