7.65% Cap - $100k NOI Leased Thru 2030

For Sale

138 Main Street, Norway, ME 04268

This Norway property for sale is located at 138 Main Street. The current listed sale price for 7.65% Cap - $100k NOI Leased Thru 2030 is $1,307,693. 7.65% Cap - $100k NOI Leased Thru 2030 is situated on a lot that is 1 acre in size.

Contacts

broker

Taylor Saulnier, CCIM

MANSARD Commercial Properties

Property Details

  • Property Type Retail - Freestanding
  • Property Size 16,363 SF
  • Lot Size 1 Acre
  • Additional Rent Contact for pricing
  • Property Tenancy Single Tenant
  • Date Updated Aug 16, 2024
Featuring 475' of frontage on Main street with a traffic count of 17,042+/- vehicles a day. Located inside the Norway retail corridor with major tenants such as McDonald’s, Walgreens, Dunkin, Verizon, Stephens Memorial Hospital & moreMANSARD is pleased to offer for sale 138 Main Street in Norway, Maine. This asset is 100% leased by Aubuchon Hardware who is currently paying $100,039 annual rent with attractive 2% rent increases every year. The current lease runs through December 2030, with two five-year options to extend, providing potential rent through the year 2040+/-. Aubuchon Hardware has operated onsite since 2004, providing a vital and reliable place for residents to shop. This investment opportunity is perfect for a regional investor seeking dependable passive income from a long term tenant. The tenant benefits from this strategic location with limited area competition and low operating costs; with an under market rent of just $6.11/sf.

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Highlights

  • 16,363 SF - 100% Leased by Aubuchon Hardware Since 2004
  • $100,039 NOI - Leased Thru 12/31/2030 - 2% Annual Increases
  • Two, 5 Year Options to Renew thru 2035 & 2040 w/ a High Renewal Probability
  • Limited Landlord Responsibilities Providing Headache Free Ownership
  • Strong Regional Tenant - Aubuchon Operates 119 Locations in the North East
  • Attractive Under Market Rent of $6.11/SF - Limited Area Competition

Getting around

  • 39/100

    Walk Score ®

  • 19/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Norway, ME
  • Neighborhood Norway
  • Zip Code 04268
  • Market Portland ME

Points of Interest

  • Gulf

    0.19 miles

  • Irving

    0.43 miles

  • Cumberland Farms

    0.52 miles

  • Citgo

    1.12 miles

  • Circle K Gas Station

    1.41 miles

  • Sunoco

    8.60 miles

  • Shell

    8.73 miles

  • Trail Head Parking Lot

    7.28 miles

  • Amato's

    0.21 miles

  • Dunkin'

    0.35 miles

  • Taste of Eden Vegan Cafe

    0.46 miles

  • Luchador Tacos

    0.57 miles

  • Pizza Hut

    0.72 miles

  • Mayflower Chinese Restaurnant

    0.79 miles

  • Burger King

    0.85 miles

  • Applebee's

    0.86 miles

  • Yianni's House of Pizza

    0.89 miles

  • Ocean Pearl

    0.94 miles

  • Hannaford

    0.81 miles

  • Save-A-Lot

    0.84 miles

  • Walmart Supercenter

    2.54 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Taylor Saulnier, CCIM

MANSARD Commercial Properties