507 Main St - Freestanding FOR SALE


Saco, ME 04072
$3,612,179 USD
781-776-4003
507 Main St, Saco, ME for Sale
$3,612,179 USD
Freestanding - FOR SALE
1/9
null | 6.15% Cap Rate

507 Main St
Saco, ME 04072


HIGHLIGHTS

  • Long Term Leases
  • Attractive Rent Increases
  • Minimal Landlord Responsibilities
  • Dynamic Tenant Roster
  • Strategic Retail Location
  • Great Trade Area

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to acquire the fee simple interest in the three-tenant plaza located at 507 Main Street in Saco, Maine (the “Property”). The newer constructed, three-tenant plaza is improved with Chipotle, Jersey Mike’s and Playa Bowls and contains 5,363 square feet on a 1.66-acre parcel. Chipotle has 7 years left on its lease with four (4), 5-year renewal options, Jersey Mike’s has 7+ years remaining on its lease with three (3), 5-year renewal options, and Playa Bowls has a new 10-year lease with two (2), 5-year renewal options. All three leases call for attractive rent increases throughout the primary lease terms and at the start of each of the renewal option periods. The Plaza is well located at the signalized intersection of Main Street (US Route 1) and Smith Lane and enjoys outstanding visibility, frontage and access. Positioned just north of Downtown Biddeford and Saco, the Property is 0.5 miles from Interstate 195 and 2 miles from Interstate 95, providing convenient access to Portland and Saco Bay, and connectivity throughout southern Maine. The site is also convenient to nearby residential neighborhoods, multifamily housing, and area schools, providing a built-in customer base. Saco is located in York County, approximately 15 miles south of Portland.

FOR SALE DETAILS

PRICE

$3,612,179 USD

PRICE/SF

$674 USD /SF

CAP RATE

6.15%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chipotle, Playa Bowls & Jersey Mike's

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Fast Food, Freestanding, undefined

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.66 AC

LAND SF

72,310 SF

ZONING

B-2C

APN/PARCEL ID

SACO-000033-000002-000001

ASK ABOUT THIS PROPERTY

Robert HorvathHorvath & TremblayMore Info
781-776-4003

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

Robert HorvathHorvath & TremblayMore Info
781-776-4003

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