24 Chase Ave - Medical FOR SALE


Waterville, ME 04901 | 
$1,695,000 USD
207-248-6044
24 Chase Ave, Waterville, ME for Sale
$1,695,000 USD
Medical - FOR SALE
1/25
null | 8.35% Cap Rate

24 Chase Ave
Waterville, ME 04901


HIGHLIGHTS

  • 100 percent occupied with in-place income at a 7.46 percent capitalization rate
  • ±5.66 acres provides ample parking, campus flexibility, and room for future expansion
  • Modified gross lease running through October 31, 2029, with annual escalations tied to the current Consumer Price Index (CPI)

OVERVIEW

The offering of 24 Chase Avenue in Waterville, Maine is the opportunity to acquire a 10,803-square-foot medical office building on approximately 5.66 acres, fully occupied by MaineGeneral Health. Known as the Seton Center, the building houses outpatient and specialty medical services and is offered at a 7.46 percent capitalization rate, delivering stabilized income from an essential, deeply rooted healthcare tenant. The property is occupied by MaineGeneral Health, the largest nonprofit health system in central Maine and the largest private employer in the Kennebec Valley, under a modified gross lease that runs through October 31, 2029. The building functions as part of MaineGeneral's established Waterville footprint, a clinical setting that is costly and disruptive to relocate, which underpins long-term occupancy and a high probability of renewal. For an investor seeking durable, recession-resistant income, 24 Chase Avenue offers single-tenant medical office cash flow backed by a mission-critical regional health system with a long-standing presence at this location. It is a defensive, essential-use asset of a type that institutional and private buyers consistently favor for its stability.

FOR SALE DETAILS

PRICE

$1,695,000 USD

PRICE/SF

$159 USD /SF

CAP RATE

8.35%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

24 Chase Avenue, Waterville

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1988

SPRINKLERS

-

PARKING SPACES

29

LAND DETAILS

LAND ACRES

5.66 AC

LAND SF

246,550 SF

ZONING

INST

APN/PARCEL ID

WAVL-000042-000000-000069

ASK ABOUT THIS PROPERTY

Matt PouliotPouliot Real EstateMore Info
207-248-6044

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Matt PouliotPouliot Real EstateMore Info
207-248-6044

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.