128 Bucksport RdEllsworth, ME 04605

Property Details for 128 Bucksport Rd

Year built

2008

Lot size

2.11 AC

Property size (Sq ft)

10,050 SF

Zone code

UTIF

Property type

Showrooms

APN

ELLH M:133 B:014 L:001 U:000

APU

ELLHM133B014L001U000

Description

This 10,082 sq ft medical office building in Ellsworth, Maine, offers a compelling investment opportunity. Situated on 2.11 acres at 128 Bucksport Rd, the property boasts a 100% occupancy rate with a strong, creditworthy tenant, Covenant Physician Partners, Inc., a 100% owner of both the eye practice and ASC. The absolute NNN lease features a 6.4-year remaining term with three 5-year renewal options and 2% annual rent bumps. Built in 2008, the single-story building provides services including ophthalmology and ambulatory surgery, with a Certificate of Need (CON). The property benefits from a high-traffic location on US Route 1, near Northern Light Maine Coast Hospital, and serves a large patient base within a 120-mile radius. The strong lease terms, high occupancy, and strategic location combine to create a stable, high-yield investment with a 7.65% cap rate and a NOI of $334,536. The asking price is $4,375,000 ($433.94/sq ft). The property's location in Ellsworth, a rapidly growing area with a strong average household income, further enhances its investment potential. The tenant recently extended the lease, demonstrating long-term commitment to the location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,442,501

  6.5%

  $2,254,616

  7%

  $2,093,572

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,309,095

  Geo Method

  $3,309,095

• Alternative Use

  Use

  Valuation

  Residential

  $1,901,853

  Hospitality

  $1,742,087

  Educational

  $1,449,396

  Medical

  $1,499,243

  Retail

  $2,254,616

Location Insight

City

Ellsworth

County

Hancock

State

Maine

Latitude

44.5379

Longitude

-68.4381

Property Tax & Assessments

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