74 Winthrop StAugusta, ME 04330

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 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.

• 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

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