49-55 Topsham Fair Mall Rd - Freestanding FOR SALE


Topsham, ME 04086
$12,841,892 USD
781-776-4003
49-55 Topsham Fair Mall Rd, Topsham, ME for Sale
$12,841,892 USD
Freestanding - FOR SALE
1/7
null | 7.5% Cap Rate

49-55 Topsham Fair Mall Rd
Topsham, ME 04086


HIGHLIGHTS

  • The Asset
  • Operating Expense Protection
  • Prime Retail Location
  • Area Drivers
  • Residential Development
  • Significant Area Employers

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to acquire the Topsham Fair Mall I, which is comprised of a multi-tenant retail center located at 49-55 Topsham Fair Mall Road in Topsham, Maine (the “Property”). Located in the heart of Topsham’s commercial district, the mall was constructed in 1986 and has been well maintained and renovated over the years. The Topsham Fair Mall consists of 74,432 square feet on a combined 8.05-acres of land. The Property is 100% leased to seventeen (17) tenants and is anchored by New England Fitness and The Furniture Gallery, with the remainder of the space leased to local and regional retailers, restaurants and service tenants that cater to the needs of the area residents. The Topsham Fair Mall I offers a stable and secure asset with established tenants and long-term leases that feature scheduled rent increases and expense reimbursements. The Topsham Fair Mall area is mid-coast Maine’s largest retail concentration, located immediately adjacent to the exit 31 interchange with Route 196 (Lewiston Road), known as the ‘Coastal Connector’, which carries one of the highest traffic volumes in Maine and is the primary regional artery connecting to Route 1 and the Maine Coast for both regional workers and seasonal residents and tourists. The Topsham Fair Mall is part of an overall retail and commercial development comprising approximately 850,000 square feet. The entire development is 100% occupied, there having been no vacancies (apart from the recent JoAnn’s bankruptcy-caused closure, now replaced by The Furniture Gallery) in the entire Mall area for several years. The Property is surrounded by national retailers including Target, Home Depot, Dick’s, Petco, Hannaford’s and a newer 81,000 square foot Market Basket (two major supermarkets doing well-over a combined $125 million in sales) that drive traffic to the area and is convenient to Topsham and Brunswick’s residential neighborhoods and schools providing a built-in customer base. These are Target, Home Depot, Market Basket, Dicks’s and Petco’s only locations in the entire mid-coast region. Additionally, Smitty’s Cinema is the sole multi-screen theater in the region. All of the ‘regional’ and the majority of the ‘local’ customers destined for these major ‘big box’ stores must pass by the Property both coming and going, affording exceptional exposure and accessibility. The Topsham Fair Mall is seconds from Interstate 295, 1-mile from US Route 201, 2-miles from US Route 1, and 2.8-miles from Bowdoin College.

FOR SALE DETAILS

PRICE

$12,841,892 USD

PRICE/SF

$173 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Topsham Fair Mall

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1985

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

6.69 AC

LAND SF

291,416 SF

ZONING

NO

APN/PARCEL ID

TOPM-000005B-000000-000009-AR000000

ASK ABOUT THIS PROPERTY

Robert HorvathHorvath & TremblayMore Info
781-776-4003

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Robert HorvathHorvath & TremblayMore Info
781-776-4003

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