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.