Commercial/Residential Investment Property

Retail-Commercial for Sale
Catylist Listing ID: 30124947
Property Subtypes: Convenience Store, Day Care Facility, Free-Standing Building, Mixed Use, Restaurant, Retail-Pad, Street Retail, Other
Building Size (RSF): 11,472 SF
Gross Building Area: See Agent
Gross Land Area: 0.92 Acres
Sale Price: $645,000
Unit Price: $56.22 PSF
Ceiling: 10 ft.
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 9.5%
Last Updated: 8/1/2017

Overview / Comments

We are pleased to offer for sale this versatile and very well maintained investment property on Business Rt. 1 just north of Damariscotta village. It is currently fully leased and consists of 3 commercial and 4 residential units with a 9.5% cap rate. There is also potential for additional residential units on the second floor. Neighboring businesses include Round Top Ice Cream, Central Lincoln Co. YMCA, Hammond Lumber, McDonald's and Hannaford Supermarket. Property sits on 0.92 acres and has a traffic count of 8990.

Attachments & Media

Additional Details

Nearest MSA: Augusta-Waterville
County: Lincoln
Tax ID/APN: DAMA-000008-000000-000012
Zoning: COMMERCIAL
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Other
Property Located Between: Route 1 and Damariscotta village
Property Visibility: Excellent
Largest Nearby Street: Route 1
Feet of Frontage: 148
Traffic/Vehicle Count: 8,990
Highway Access: Located on Business Route 1--easy access to Route 1
Site Description: Level and open
Area Description: Damariscotta is a pretty and very popular tourist resort town on the coast of Maine. It had a population of 2,218 at the 2010 census.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 3
Property Condition: Excellent
Year Built: 1998
Roof Type: Gable
Construction/Siding: Aluminum Siding, Vinyl Siding, Wood Frame
Total Parking Spaces: 25
Parking Type: Surface
Parking Description: Ample paved parking on-site.
Heat Type: Hot Water
Lot Frontage: 148
Lot Depth: 80
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,604 7,573
Median Age: 50.25 49.3
Households: 2,123 3,433
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