131 Court StBath, ME 04530

Property Details for 131 Court St

Year built

2017

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.79 AC

Property size (Sq ft)

12,012 SF

Zone code

C4

Property type

Retail space

APN

BTTH M:28 L:081

APU

BTTHM28L081

Description

This exceptional investment opportunity presents a fee-simple, single-tenant retail property leased to CVS Pharmacy. Located at 131 Court St, Bath, ME 04530, this 12,012 square foot building sits on a 1.79-acre lot (77,972 sq ft) and boasts a convenient drive-thru pharmacy. The property, built in 2018, benefits from a high-traffic location on Highway 1, experiencing over 33,000 vehicles daily. The absolute NNN lease, with a corporate guarantee from CVS Health Corporation, ensures zero landlord responsibilities. The lease commenced October 17, 2019, and has a remaining term of 20.2 years, expiring January 31, 2045, with ten 5-year options. The property features 63 parking spaces and is zoned C4. The asking price is $7,487,627, translating to $623.35 per square foot. The current Net Operating Income (NOI) stands at $425,121. This zero cash flow investment offers significant passive loss benefits, ideal for tax-deferred exchanges. The existing loan fully amortizes at lease expiration, minimizing equity requirements. This is a truly passive investment with a strong corporate tenant and a long-term lease. The property's strong financials and location make it a compelling addition to any portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $2,919,335

  6.5%

  $2,694,771

  7%

  $2,502,288

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,955,110

  Geo Method

  $3,955,110

• Alternative Use

  Use

  Valuation

  Residential

  $2,273,140

  Hospitality

  $2,082,184

  Educational

  $1,732,353

  Medical

  $1,791,931

  Retail

  $2,694,771

Location Insight

City

Bath

County

Sagadahoc

State

Maine

Latitude

43.9096

Longitude

-69.8258

CBSA code

38860

CBSA name

PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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