74 Winthrop StAugusta, ME 04330

  • Office properties
  • 4,674 SF
For Sale
$425,000 View listing

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
74 Winthrop St, Augusta, Maine

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

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
$8,780
$152,300
$230,100
$382,400
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-
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