550 Center St - Freestanding FOR SALE


Auburn, ME 04210
$9,500,000 USD
207-329-8203
550 Center St, Auburn, ME for Sale
$9,500,000 USD
Freestanding - FOR SALE
1/14
null | Request Cap Rate

550 Center St
Auburn, ME 04210


OVERVIEW

The Boulos Company is pleased to offer a rare opportunity to purchase, and perhaps redevelop, one of the largest retail sites just north of Portland, Maine, in the second largest population area in the state of Maine. The Auburn Mall is one of four enclosed malls in the State. The Mall consists of approximately, 30 acres improved with a 344,369± GBA enclosed Mall plus one existing outparcel with approximately 318,786 total leasable square feet. The Mall is anchored by J.C. Penney, who occupies 97,133± SF, who has been the primary anchor of the mall since it was developed in 1979. The Mall has a secondary anchored box of 59,941±SF which was most recently occupied by TD Bank. TD vacated their space in December 2024. This vacancy provides an opportunity to redevelop the west end of the Auburn Mall parcel including the TD box and some adjacent enclosed mall space. Notable tenants within the Mall include, J.C. Penney, Bath & Body Works, Game Zone, Spencer's, Photo Finish, Super Shoes, GNC, Thatcher's Restaurant, and Miller Fitness. In addition to the enclosed Mall, itself, the Mall property includes one outparcel and a former bank branch of 3,752± SF located to the rear of the property. The former bank branch is leased to a cannabis retailer who is currently a TAW. Site plan approvals are in place for the development of four additional outparcels along Center Street and Mt. Auburn Ave. A redevelopment of the west end area of the Auburn Mall could make way for a number of notable retailers and grocery stores such as Costco, Market Basket, Hannaford, Aldi's, and others. Other notable surrounding retailers in the area include Walmart, Target, Lowe’s, Home Depot, Kohl’s, Hobby Lobby and Shaw’s Supermarket, to name a few. Don’t miss this rare opportunity to acquire one of the largest and most viable retail sites within southern Maine.

FOR SALE DETAILS

PRICE

$9,500,000 USD

PRICE/SF

$28 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Auburn Mall

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1979

SPRINKLERS

-

PARKING SPACES

1776

LAND DETAILS

CROSS STREETS

SEC Center St & Mt Auburn Ave

LAND ACRES

30 AC

LAND SF

1,306,800 SF

ZONING

C

APN/PARCEL ID

AUBN-000280-000000-000010

ASK ABOUT THIS PROPERTY

Craig YoungThe Boulos CompanyMore Info
207-329-8203

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Craig YoungThe Boulos CompanyMore Info
207-329-8203

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