80 Valley CircleRumford, ME 04276MLS Number 1425666

  • Price: $3,340,885
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Federal 30-year interest rate: 2.87% last updated on Sep 17, 2020
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80 Valley Circle Rumford ME 0427680 Valley Circle Rumford ME 0427680 Valley Circle Rumford ME 0427680 Valley Circle Rumford ME 0427680 Valley Circle Rumford ME 0427680 Valley Circle Rumford ME 0427680 Valley Circle Rumford ME 0427680 Valley Circle Rumford ME 04276
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  • 9.86Acreage
Rumford Plaza offers a rare combination value & yield play with an impressive tenant roll of Marden's (54% of space), Tractor Supply Company, Dollar Tree, Motion Industries and Carparts Stores.The shopping center is 100% leased with high barriers to entry as land and construction costs make new shopping centers cost prohibitive and a dearth of available properties capable of handling big box retailers Marden's and Tractor Supply.Marden's is a second-generation family-owned company with 14 locations throughout Maine. The Rumford store dominates its market; the nearest Marden's is 43 miles away. They have been a tenant since 2007.Tractor Supply Company is the largest operator of rural lifestyle retail stores in America with 1,863 stores. It sports a valuation of $15.2 Billion and had 2019 NOI of $562 Million. They have been a tenant since 2013.Dollar Tree has 15,288 stores (39 in Maine) in North America. Fiscal year 2020 sales increased 52% since 2016 to $23.61 Billion. NOI is $827 Million. S&P rates it investment (BBB-) grade. They have been a tenant since 2005.Motion Industries, subsidiary of Genuine Parts Industries ('19 revenues of $19.4 Billion), distributes industrial replacement parts and materials throughout the region. They have been a tenant since 2009. Carparts Stores recently leased the former Olympia Sports 5,880 square foot space. Carparts has 20 stores in Maine, New Hampshire and Massachusetts and is part of the 4,000 +/- strong-Alliance buying group. Their new tenancy is a bullish signal of confidence in the local economy.Listed at $41.51/SF, a fraction of its replacement and land cost, yields a cap rate of 8.0% upon executing lease extensions for Marden's and Motion Industries (both in process) and Dollar Tree this October 31, 2020.2019 CAM was low at $1.48/SF.Rumford Plaza is an investment opportunity providing a steady yield with long-term growth potential. It's an ideal 1031 exchange.
Listed by Bean Group

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Coldwell Banker American Heritage Real Estate
Coldwell Banker American Heritage Real Estate
Office: 207-942-6773
510 Broadway
Bangor, ME 04401

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More Info

Location Information

  • Building Number80
  • StreetValley Circle

Property

  • Acreage9.86
  • Sq Ft Finished Total80,475
  • Leased LandNo

Property Information

  • Property UsesCommercial, Medical, Neighborhood Center, Net Leased, Other, Restaurant, Retail, Strip Mall
  • Zoning OverlayNo

Tax Information

  • Tax Year19

Location

  • StateME
  • TownRumford
  • Zip04276
  • LocationBusiness District
  • CountyOxford
  • Map212

Other

  • Parking Spaces21+ Spaces, Paved
  • View Count37

Basic Information

  • List Price$3,340,885
  • MLS Number1425666
  • Address80 Valley Circle
  • Broker NameBean Group
  • Modification Date09/10/2020
  • Agent ID003210
  • Broker ID2484
  • MLS StatusActive

Photos

  • Number of Photos8
  • Last Img Trans Date09/10/2020

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