Single-Tenant Absolute Net in Maine Industrial FOR SALE


Pittsfield, ME | 
$6,400,000 USD
, Pittsfield, ME for Sale
$6,400,000 USD
Industrial - FOR SALE
1/4
null | 8.1% Cap Rate

Single-Tenant Absolute Net in Maine
Pittsfield, ME


HIGHLIGHTS

  • ±18.5-year, net-leased industrial investment opportunity
  • 2.50% annual rental escalations
  • Absolute Net lease structure | Zero landlord responsibilities
  • Tenant: Walpole Outdoors, LLC | 24 locations in 12 states
  • Supply-constrained industrial submarket | Zero construction and minimal vacancy within 10-mile radius
  • Immediate access to Interstate-95 (I-95)

OVERVIEW

Marcus & Millichap is pleased to present the sale offering of 202, 400 and 409 Industrial Park Street, a three-building single-tenant absolute net leased industrial investment opportunity in Pittsfield, Maine. The opportunity is located within a supply-constrained market boasting minimal vacancy and offers immediate access to Interstate-95. The buildings sit approximately 35 miles west of Bangor, Maine, less than a 40-minute drive. The purchase of this offering presents an investor with the opportunity to own an industrial asset with zero landlord responsibilities in a supply-constrained market with. At the current list price of $6,400,000 the investment offering will generate an in-place net operating income of $518,582 in Year 1, which equates to a capitalization rate of 8.10%. LEASE STRUCTURE » 20-Year Absolute Net Lease » Commence: August 26, 2024 » Expiration: August 25, 2044 » 2.50% Annual Rental Escalations » Four (4) 5-Year Renewal Options

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