698 Minot Ave - Drug Store FOR SALE
Auburn, ME 04210 |
$2,245,000 USD
415-274-2714
698 Minot Ave
Auburn, ME 04210
HIGHLIGHTS
- The offering is a single-tenant Walgreens store located in Auburn, which is ~30 miles northeast of Portland, ME
- Walgreens is currently paying a low base rent of $165,000, and an investor benefits from a contractual rent bump effective 06/01/2027
- Walgreens executed an early 10-year extension back in 2019, which takes the current term through 05/31/2032
- There are five, 5-year extension options with 5% rental increases at the start of each option
- Minimal landlord expense obligations; the roof was resurfaced in 2025
- This is the only Walgreens store in the city of Auburn, and there is zero national pharmacy competition in the immediate area
OVERVIEW
Walgreens with longstanding operational history and low in-place rent. The subject property is drive-through enabled, and is located on a signalized intersection with multiple points of ingress and egress. This Walgreens offers a passive income stream with zero national pharmacy competition in the immediate trade area.
FOR SALE DETAILS
PRICE
$2,245,000 USD
PRICE/SF
$201 USD /SF
CAP RATE
7.35%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Walgreens
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Drug Store
ADD'L SUBTYPES
Freestanding, Storefront, Storefront Retail/Office
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1996
SPRINKLERS
-
PARKING SPACES
30
LAND DETAILS
LAND ACRES
1.52 AC
LAND SF
66,211 SF
ZONING
-
APN/PARCEL ID
AUBN-000208-000000-000143
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415-274-2714
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415-274-2714
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