317 Main St - Drug Store FOR SALE


Farmington, ME 04938
$3,890,083 USD
619-297-0055
317 Main St, Farmington, ME for Sale
$3,890,083 USD
Drug Store - FOR SALE
1/3
null | 12% Cap Rate

317 Main St
Farmington, ME 04938


HIGHLIGHTS

  • Absolute NNN lease with zero landlord obligations whatsoever with six (5-year) renewal options and 10% rent increases in the 1st and 3rd options.
  • No other Walgreens within 13 miles and no CVS location within 26 miles.
  • Located on a key north-south corridor leading to Quebec, approximately 80 miles from the Canadian border via Coburn Gore crossing.
  • Close proximity to the University of Maine at Farmington, serving 1,837 students and 149 faculty and staff.

OVERVIEW

We are offering for sale the Walgreens property located at 317 Main Street, Farmington, ME 04938 (the “Property”). The asset is subject to an absolute net lease with no landlord responsibilities and includes six (5-year) renewal options with 10% rent increases scheduled in the first and third option periods. The Property operates with limited drugstore competition, as there are no other Walgreens within 13 miles and no CVS locations within 26 miles, positioning it as the primary pharmacy provider for the surrounding area. It is also the only national drugstore near Franklin Memorial Hospital, the region’s sole full-service medical facility. The site is located along Route 27, a corridor that connects to the Canada–U.S. border at Coburn Gore, approximately 80 miles north. It is also near the University of Maine at Farmington, which enrolls 1,837 students and employs 149 faculty and staff. Listed in conjunction with Brian Brockman, Bang Realty - New England Inc, 513-898-1551, wg@bangrealty.com, ME DRE Lic. DB921170.

FOR SALE DETAILS

PRICE

$3,890,083 USD

PRICE/SF

$263 USD /SF

CAP RATE

12%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Limited Competition I 10% Incr in Options

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.36 AC

LAND SF

59,242 SF

ZONING

SEASON

APN/PARCEL ID

FARN-000000-U000014-000043

ASK ABOUT THIS PROPERTY

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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