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Shopping Community

Mount Blue Shopping Center

632 Wilton Rd, Farmington, ME 04938

Listing Price: $6,500,000

Cap Rate
8.00%
Gross SF
97,408
Rentable SF
97,408
Price/Gross SF
$66.73
Lot Size
13.20 acres
Year Built
1982

Investment Overview

The Marcus & Millichap team of Patton | Wiles | Fuller is pleased to present for sale Mount Blue Shopping Center in Farmington, Maine, a 98% occupied, 97,408 SF grocery-anchored shopping center anchored. This center is shadowed by Walmart Supercenter, which is 35 minutes to the next closest Walmart. 82% of tenancy is comprised of national retailers such as Big Lots, Save-A-Lot, Dollar Tree, Rent-A-Center, US Cellular, etc. This investment provides a 13.2% Cash/Cash Return (20.7% Total Return) at projected list-price with new bank financing. Cheap anchor rents in this center: Big Lots ($5.25/SF Gross), Save A Lot ($3.50/SF NNN), Sears ($4.25/SF NNN). There is a pad site development opportunity along Wilton Road; 3,000 SF building up to 12 feet in height approved. Property is located next to Franklin Memorial Hospital (65-Bed Hospital with Medical/Surgical/Pediatric/Diagnostic Services); 35 minutes to next closest hospital. Low average rent of $5.65/SF NNN; priced well below replacement cost at $67/SF. Farmington, Maine is the county seat of Franklin County; home to University of Maine at Farmington (1,600 Students). 16,310 cars/day along Wilton Road, area’s primary retail corridor including Taco Bell, Pizza Hut, AutoZone, Burger King, Dunkin Donuts, Tractor Supply Co., etc.

Investment Highlights

  • 98% Occupied, 97,408 SF Grocery-Anchored Shopping Center in Farmington, ME
  • Shadowed by Walmart Supercenter (35 Minutes to Next Closest Walmart)
  • 82% of Tenancy Comprised of National Retailers (Big Lots, Save-A-Lot, Dollar Tree, Rent-A-Center, US Cellular, etc.)
  • 13.2% Cash/Cash Return (20.7% Total Return) Projected at List-Price with New Bank Financing
  • Cheap Anchor Rents: Big Lots ($5.25/SF Gross), Save A Lot ($3.50/SF NNN), Sears ($4.25/SF NNN)
  • Pad Site Development Opportunity – 3,000 SF Building Up To 12 Feet In Height Approved
  • Located Next to Franklin Memorial Hospital (65-Bed Hospital with Medical/ Surgical/Pediatric/Diagnostic Services) – 35 Minutes to Next Closest Hospital
  • Low Average Rent of $5.65/SF NNN; Priced Well Below Replacement Cost at $67/SF

Exclusively Listed By

Broker of Record

  • James M. Koury

    Senior Managing Director Investments

    (617) 896-7220

    License(s) ME: DB904355

    Maine

Financing By

Shopping Community

Mount Blue Shopping Center

Listing Price: $6,500,000

Cap Rate
8.00%
Gross SF
97,408
Rentable SF
97,408
Price/Gross SF
$66.73
Lot Size
13.20 acres
Year Built
1982

Investment Highlights

  • 98% Occupied, 97,408 SF Grocery-Anchored Shopping Center in Farmington, ME
  • Shadowed by Walmart Supercenter (35 Minutes to Next Closest Walmart)
  • 82% of Tenancy Comprised of National Retailers (Big Lots, Save-A-Lot, Dollar Tree, Rent-A-Center, US Cellular, etc.)
  • 13.2% Cash/Cash Return (20.7% Total Return) Projected at List-Price with New Bank Financing
  • Cheap Anchor Rents: Big Lots ($5.25/SF Gross), Save A Lot ($3.50/SF NNN), Sears ($4.25/SF NNN)
  • Pad Site Development Opportunity – 3,000 SF Building Up To 12 Feet In Height Approved
  • Located Next to Franklin Memorial Hospital (65-Bed Hospital with Medical/ Surgical/Pediatric/Diagnostic Services) – 35 Minutes to Next Closest Hospital
  • Low Average Rent of $5.65/SF NNN; Priced Well Below Replacement Cost at $67/SF

Investment Overview

The Marcus & Millichap team of Patton | Wiles | Fuller is pleased to present for sale Mount Blue Shopping Center in Farmington, Maine, a 98% occupied, 97,408 SF grocery-anchored shopping center anchored. This center is shadowed by Walmart Supercenter, which is 35 minutes to the next closest Walmart. 82% of tenancy is comprised of national retailers such as Big Lots, Save-A-Lot, Dollar Tree, Rent-A-Center, US Cellular, etc. This investment provides a 13.2% Cash/Cash Return (20.7% Total Return) at projected list-price with new bank financing. Cheap anchor rents in this center: Big Lots ($5.25/SF Gross), Save A Lot ($3.50/SF NNN), Sears ($4.25/SF NNN). There is a pad site development opportunity along Wilton Road; 3,000 SF building up to 12 feet in height approved. Property is located next to Franklin Memorial Hospital (65-Bed Hospital with Medical/Surgical/Pediatric/Diagnostic Services); 35 minutes to next closest hospital. Low average rent of $5.65/SF NNN; priced well below replacement cost at $67/SF. Farmington, Maine is the county seat of Franklin County; home to University of Maine at Farmington (1,600 Students). 16,310 cars/day along Wilton Road, area’s primary retail corridor including Taco Bell, Pizza Hut, AutoZone, Burger King, Dunkin Donuts, Tractor Supply Co., etc.

Exclusively Listed By

Broker of Record

  • James M. Koury

    Senior Managing Director Investments

    (617) 896-7220

    License(s): ME: DB904355

    Maine

Financing By

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