Listed by The Boulos Company Portland
$5,100,000
76 Northern Ave
Details
Property Type Office
Sub Type Traditional Office, Investment
Square Footage 48,771
Units 1
Cap Rate 7.30%
NOI $370,386
Occupancy 100%
Tenancy Single
Class B
Year Built 1960
Year Renovated 2022/2023
Buildings 1
Stories 1
Acreage 9.500
Zoning HDR - High Density Residential
Investment Type Core
Office | 7.30% CAP | 48,771 SqFt
Marketing description
The Boulos Company has been retained to exclusively market 76 Northern Avenue, a fully-leased state office building in Gardiner, ME. The Department of Professional & Financial Regulation includes agencies such as Office of Securities, Bureau of Insurance, Bureau of Financial Institutions and the Bureau of Consumer Credit Protection.
Fully-Leased, Single Tenant State Office Building
Less than a mile to downtown Gardiner and directly off Maine Avenue/Rte 201.
Investment highlights
- 48,771± SF, fully-leased state office building on 9.5± acres
- Less than a mile t o downtown Gardiner and directly off Maine Avenue/Rte 201.
- Approximately $1,500,000 in renovations completed in 2022 & 2023
- Renovations include new interior paint, carpet, windows, etc.
- Fully leased through 12/31/2033
- Estimated NOI: $370,386
- Cap Rate: 7.3%
- Parking: Ample on-site parking
Listing Contacts
Listed by The Boulos Company Portland
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$370,386.00
$30,865.50/mo
Valuation Metrics
0
DSCR
7.26%
Cap Rate
7.26%
ROI
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