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.